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GameSquare Esports is on a path to level up in 2021 with targeted gaming and media acquisitions

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  • International esports company headquartered in Toronto
  • Targeting acquisitions in esports, sports and entertainment
  • Owns Code Red, an esports talent agency in the UK

What GameSquare Esports does:

GameSquare Esports Inc (CSE:GSQ) (OTCMKTS:GMSQF) (FRA:29Q1) is an international esports company working to bridge the gap between large global brands and the gaming community.

The Toronto-based company has a plan to acquire assets and entities serving the esports market, as well as sports and entertainment more broadly.

Its crown jewel acquisition so far is Code Red, an esports talent agency in the UK that provided GameSquare with an initial foothold in Europe. Code Red represents on-screen talent, players and influencers and works with brands to develop influencer campaigns and esports marketing strategies.

Code Red has been around the block a few times, having been working in esports since 2003. The company also hosts workshops for corporate clients and educational institutions looking to get involved in the space, covering esports techniques for marketing, esports broadcasting show creation, commentary and hosting. 

GameSquare is led by CEO Justin Kenna, who left his job as the director of finance at Madison + Vine in 2018 to dive headfirst into the world of esports as CFO of the well-known gaming organization FaZe Clan. 

How is it doing:

GameSquare recently added a strategic advisor to its team who is such a star in his field that there’s a series of video games named after him — skateboarding legend Tony Hawk. Hawk, whose charity The Skateboard Project has contributed more than US$10 million to construct stake parks in the US, joined the GameSquare team in May.

In April, GameSquare reported first-quarter revenue of C$1.5 million, a 97% year-over-year increase, as record global esports engagement boosted sales at its core Code Red Esports asset.

The company also noted that revenue from consulting fees during the period grew to $413,435 from $33,191 a year earlier, related partly to increased billings associated with Bud Light Europe.

On March 16, subsequent to the quarter-end, GameSquare closed its acquisition of Reciprocity Corp, a Candian company that owns three esports assets: a CrossFire franchise in China that it owns with its partner LGD Gaming; a 40% interest in a League of Legends team that competes in Latin America; and its wholly-owned subsidiary GCN, a digital media company focused on the gaming and esports audience.

In the same announcement, GameSquare revealed it has “initiated discussions with a number of attractive acquisition targets.”

Another GameSquare subsidiary, Gaming Community Network, agreed in April to an expanded commercial agreement with its partner Dexerto, a leading esports internet property. Dexerto provides GCN with expanded marketing resources and content support around the Collegiate Esports series, which began in May, and the 100-plus universities and colleges competing. 

Inflection points:

  • Continuing to explore potential acquisitions
  • European market growth through CodeRed
  • Taking on roles in additional esports tournaments

What the boss says:

GameSquare Esports president Kevin Wright laid out the company’s thought process around acquisitions when the company reported first-quarter results in April.

“We have a specific set of criteria that we consider, and we are at various stages with companies that would be tremendous additions to the GameSquare family of companies,” Wright said.

“In 2021, we believe that we can add more great companies that operate in the digital agency vertical or are complementary to what we view as one of the most attractive areas of the esports ecosystem.”

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/952033/gamesquare-esports-is-on-a-path-to-level-up-in-2021-with-targeted-gaming-and-media-acquisitions-952033.html


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