Market Overview

Simplicity Esports and Gaming Company Acquires Three More Esports Gaming Centers and Signs Percentage Rent Leases with Landlords

Share:

Boca Raton, Florida, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB:WINR) ("Simplicity Esports"), announced today that it has acquired three additional franchisee owned esports gaming centers, two of which are in Texas, and one in Montana. These gaming centers, combined with other acquisition targets previously announced, generated over $2,700,000 in combined revenues in 2019. These acquisitions give Simplicity a total of 12 corporate owned gaming centers, in addition to numerous other franchisee owned gaming centers.

Roman Franklin, President of Simplicity Esports, stated, "I am thrilled to announce three more gaming center acquisitions. These acquisitions, along with existing corporate owned gaming centers, gives us ownership of 12 of the top 25 revenue producing gaming centers across our nationwide footprint during the month of February 2020. The percentage rent leases significantly reduce fixed operating costs for each gaming center, and we expect the gaming centers to be cash flow positive within 30 days of acquisition."

These acquisitions allow Simplicity Esports to report the full revenues generated by these gaming centers on a consolidated basis.

In addition to these acquisitions, Simplicity Esports has executed non-binding letters of intent for the acquisition of four additional esports gaming centers with new percentage rent leases from landlords. The four additional acquisitions are expected to close by December 15, 2020.

About Simplicity Esports and Gaming Company:

Simplicity Esports and Gaming Company (WINR) is an established brand within the esports industry, competing and streaming in popular games across different genres, including Apex Legends®, PUBG Mobile®, Overwatch®, League of Legends®, and various EA Sports® titles. Simplicity Esports also organizes and hosts various online play from home tournaments in the U.S. and Brazil. Simplicity Esports also operates as an owner and franchisor of the largest footprint of Esports Gaming Centers in North America, that provide the public an opportunity to experience and enjoy gaming and esports in a social setting, regardless of skill or experience. Additionally, Simplicity Esports is an organizer and host of paid entry, online, play from home tournaments.

Apex Legends®, PUBG Mobile®, Overwatch®, League of Legends®, Fortnite®, EA Sports® and Free Fire® are registered trademarks of their respective owners.

Forward-Looking Statements:

This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond Simplicity Esports' control, including those set forth in the Risk Factors section of Simplicity Esports' Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on August 31, 2020 and our subsequent SEC filings, as amended or updated from time to time. Copies of Simplicity Esports' filings with the SEC are available on the SEC's website at www.sec.gov. Simplicity Esports undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Simplicity Esports Contact:

Roman Franklin
President
Roman@SimplicityEsports.com
561-819-8586


Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com