Gaming and esports media company Enthusiast Gaming are looking to attract more American investors by filing to list on the Nasdaq.
Enthusiast are already listed on the Toronto Stock Exchange and the OTCQB, an American mid-tier equity market that typically attracts early-stage companies.
They filed their registration statement to the US Securities and Exchange Commission (SEC) on April 13 in hopes of making it on the Nasdaq, so they can afford to continue acquiring companies.
The company is behind major esports brands such as team brand Luminosity Gaming, Call of Duty franchise Seattle Surge, and Overwatch franchise Vancouver Titans. They’re much more widespread in the larger gaming industry though, having built and acquired over 100 gaming websites and 1,000 YouTube channels since launching in 2014.
Enthusiast claim that reach extends to “over 300 million gamers every month” through their various media platforms and “generated 42 billion views” in 2020 across their YouTube channels.
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Other brands in their portfolio include publications Destructoid, PC Invasion, and Escapist. They’re also well known for EGLX, a gaming expo that combines “esports, music, fashion, and lifestyle.”
Enthusiast Gaming are the third esports-related company to express intentions of dual-listing on different national exchanges in 2021. Danish esports organization Astralis and David Beckham-owned Guild Esports are also looking to access investors stateside through OTC financial markets.
— Enthusiast Gaming (@WeAreEnthusiast) April 13, 2021
“While we are very much a global company, the US remains our most prominent source of audience and revenue,” said Enthusiast CEO Adrian Montgomery.
“Naturally, a US registration is a significant milestone for the Company. We are the largest gaming media platform in North America and believe a NASDAQ listing will allow us to enlarge our shareholder base and accelerate our growth strategy, including our M&A roadmap. This registration statement is a final step towards a NASDAQ listing.”