Enthusiast Gaming completes merger with Luminosity Gaming

Enthusiast Gaming Holdings has completed a merger with Aquilini GameCo, the parent company of Luminosity Gaming.

The merger makes Enthusiast Gaming Holdings one of the largest publicly-traded companies in esports. It will trade on the TSX Venture Exchange (TSXV) from September 9th as ‘EGLX.’

Enthusiast Gaming Merger
Image credit: Enthusiast Gaming

Menashe Kestenbaum, President of Enthusiast Gaming had this to say regarding the merger: “Our vision when we founded Enthusiast was to build the largest, vertically integrated esports and gaming company in the world. The merger with Aquilini GameCo and Luminosity was a strategic decision that positions us as a dominant player in the gaming industry and unlocks access to Luminosity’s 60 million dedicated esports fans and one of the largest esports franchises.”

The newly-merged assets include teams in Fortnite, Counter-Strike: Global Offensive, SMITE, and Madden, over 50 esports influencers, 85 gaming media websites, and over 900 YouTube and Twitch channels. The company is also in long-term agreements with Overwatch League franchise Vancouver Titans and Vancouver Arena Limited Partnership.

Enthusiast Gaming entered an arrangement agreement with 755 Capital Corp.  and Aquilini GameCo in May. The completion of the merger will see Luminosity Gaming’s audience utilised in Enthusiast Gaming’s monetisation and advertisement platform.

The senior management team for the merged company includes Menashe Kestenbaum as President, Steve Maida as President of Esports, Eric Bernofsky as COO and SVP Finance, Alex Macdonald as CFO, and Meir Bulua as CIO.

Esports Insider says: Now the deal has come to fruition, it is likely that we will see changes to Luminosity Gaming. With Enthusiast Gaming wielding a wealth of experience in advertising, we expect to see new sponsorship and advertising opportunities for both parties moving forward.

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