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“The future of gaming content is video, streaming and interactive content with cross-platform viewership capabilities. These high-growth, high-margin segments have been the core drivers in our reaching over 40 billion views annually and expanding our gross margins to over 30%. The sale of these legacy assets will allow us to focus our resources on these core business capabilities as we continue to develop proprietary, product-based media and entertainment offerings that address these markets, such as our Addicting Games platform, EV.IO, Gamers Greatest Talent, Luminosity Gaming, our U.GG desktop app with now over a million downloads, and our first-of-its-kind collaboration with the NFL in NFL Tuesday Night Gaming. Moreover, by securing this sale at strong multiples, we have further strengthened our balance sheet while simultaneously reducing operational costs, giving us ample runway to get to profitability, which we remain on pace for in the near-term.” commented Adrian Montgomery, Chief Executive Officer of Enthusiast Gaming.
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