Simplicity Esports and Gaming Company has entered a definitive agreement that will see it acquire PLAYlive Nation, a company that owns a network of 44 gaming centres.
An all stock transaction is set to take place by the August 8th, though it’s subject to closing conditions.
PLAYlive Nation’s centres are said to serve over 150,000 unique customers on an annual basis, providing locations to compete on both console and PC across the United States.
Jed Kaplan, CEO of Simplicity Esports and Gaming Company discussed the acquisition in a release: “I am proud to announce the acquisition of PLAYlive which further demonstrates management’s commitment to reach our aforementioned goal to operate 50 Esports Gaming Centers. PLAYlive combined with existing Simplicity Esports Gaming Centers, represents the largest brick and mortar footprint of Esports Gaming Centers, affiliated with an esports organization in North America.
“We intend to leverage our vast footprint to further implement our brick and click approach connecting esports fans, players, gamers and influencers on a large scale, thereby representing attractive opportunities for corporate partnerships. Simplicity Esports will host competitive tournaments, grass roots community leagues, and special events connecting both professional and casual gamers with our brand.”
Simplicity Esports and Gaming Company identified locations for five gaming centres in March, with the first opening in Boca Raton in April. SMAAASH Entertainment acquired the company in 2018, bringing in Kaplan as its Co-CEO.
Duncan Wood, CEO of PLAYlive Nation added: “Joining forces with the first pure play publicly traded esports organization in North America is extremely exciting. The combination of our companies will create an industry leader and define the future of Esports Gaming Centers. My confidence in Simplicity Esports’ management’s ability to increase shareholder value, is reflected in my receiving restricted shares of common stock as consideration for the transaction.”
Esports Insider says: It’s clear that Simplicity Esports and Gaming Company believes massively in the future of physical locations for gaming, which some still cast doubt on due to the digital nature of video games. With that being said, the industry can use Simplicity’s attempt as a barometer to this approach in today’s gaming climate.
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