(EGLX) Could Be Entering Breakout Territory As It Trades Above Key Lines Of Potential Support (Nasdaq Profile)

August 11th

Good Morning,

EGLX continues its early green burst this AM and is entering interesting territory.

Hitting a new day high of $5.26, EGLX appears to be heating up and could be eying down its 50-Day SMA just over $5.50.

If it's able to push through that level today, EGLX could really pick up steam.

As of this moment, it's currently trading above these key lines (according to Barchart):

  • 5-Day Simple Moving Average (SMA)
  • 20-Day SMA
  • 200-Day SMA
  • 5-Day Exponential Moving Average (EMA)
  • 13-Day EMA

After Tuesday afternoon's huge press release regarding the company doing 400%+ more revenue in Q2 2021 compared to Q1 2020, it's no wonder why EGLX is seeing so much attention today.

As this info continues to circulate, it'll be important that EGLX is at the top of your watch-list.

Check out my initial report below on EGLX now.


In case you've been on another planet, the popularity of the video game world has skyrocketed in recent several years.

And it may just be the beginning...

Some experts say the industry could reach a value of $295.6Bn by 2026. (1)

The Fin-an-cial Post reports nearly half of the world’s approximately 7.7 billion people are gamers. (2)

The NPD Group reports overall total con-sume-r spending on video gaming in the U.S. was $14Bn in Q2 of 2021, an increase of 2% compared to Q2 2020. (3)

Those are some wild figures, but did you see what happened last week?

One cas-ino company indicated their plans to buy up Score Media and Gaming for approx. $2Bn.

And did you see what was announced Monday?

DraftKings Inc. announced that they have entered into a definitive agreement to acquire Golden Nugget Online Gaming with an implied equity value of approximately $1.56Bn!

With so much money flying around, shouldn't you be looking for an online gaming related company with a ton of potential upside?

Good news for you; I've been keeping a close eye on another gaming company that has a market cap roughly 1/3 of Score Media and Gaming and less than half of Golden Nugget Online Gaming.

For Wednesday, August 11th, 2021, there is only one Nasdaq profile to have on your radar:


United States NASDAQ: (EGLX) Canada TSX: (EGLX)

Enthusiast Gaming is building what could be the largest media platform for video game and eSports fans to connect and engage worldwide. Reaching over an estimated 300 million gamers every month, the Company is a member of the ‘Comscore 100’ ranking of the top Internet Properties in the US and the largest in the Gaming Information category on mobile devices.

Plus, according to CEO Adrian Montgomery:

One out of every two American males between 18 and 34 visits an Enthusiast Gaming property every month, which is a pretty powerful statistic and a statistic a lot of traditional media companies would be envious of.” (4)

Combining the elements of its four core pillars; Media, Talent, eSports, and Experiential, Enthusiast Gaming provides a unique engagement opp. resulting in more points of connection than any other video game and esports platform, with unparalleled access to the influential and lucrative GenZ and Millennial audience. (5)

  • The Company’s Media segment comprises nearly 100+ gaming-related websites and about 1,000+ YouTube channels that generated approximately 42 billion views of content in 2020.
  • The Talent division works with roughly 550+ leading gamers and influencers to create new and unique content.
  • Luminosity Gaming, the Company’s esports division, ranked as the #1 watched esports organization on Twitch, competes across several game titles, including the Vancouver Titans Overwatch team and the Seattle Surge Call of Duty team and works with over 50 leading streamers and athletes, including xQc, Nick Eh 30, Chica and more.
  • Enthusiast Gaming’s Experiential business owns and operates Canada’s largest gaming expo, EGLX, and the largest B2B mobile gaming event in Europe, Pocket Gamer Connects. Not to mention, it also hosts over 50 live and virtual events annually. (5)

There’s Also Growing Buzz About Enthusiast Gaming’s Competitive Advantage

The second a gamer puts down their controller, Enthusiast Gaming Holdings Inc. owns their forthcoming gaming experience. Suppose a gamer is playing a game such as Call of Duty online with friends, for example. In that case, the Enthusiast Gaming experience begins the second the game ends.


With Enthusiast Gaming, millions of gamers are: (6)

  • Reading an article or joining a gaming forum on one of its 100+ unique gaming sites.
  • Watching a YouTube video on one of its approximately 1,000 channels.
  • Watching live-streamed content from one of its 500+ influencers across Twitch, YouTube, Twitter, Instagram, and TikTok.
  • Attending a live or virtual event to connect with other gamers. These include custom activations, tournaments, merchandise, and player and celebrity challenges.
  • Gamers can even participate in seven professional eSports teams, gaming experiences with a Call of Duty team, and even the Overwatch league.

And just yesterday, the company provided an update on their Q2 fin-an-cials that was simply out of this world...

No. 1 Potential Immediate Term EGLX Catalyst - Major Q2 Earnings Update

Enthusiast Gaming Reports Second Quarter 2021 Results

Consolidated revenue of $37.1Mn, including record direct sales of $4.4Mn

Paid subscribers grew to a record 155,000

TORONTO, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) (TSX:EGLX), (“Enthusiast Gaming” or the “Company”), today announced financial results for the three and six months ended June 30, 2021. All amounts are stated in Canadian dollars unless otherwise indicated.

Second Quarter 2021 Fin-an-cial and Operating Highlights

  • Revenue of $37.1Mn for the three months ended June 30, 2021 vs the three months ended June 30, 2020 (“Q2 2020”) revenue of $7.0Mn
  • Gross pro-fit of $8.0Mn vs Q2 2020 gross pro-fit of $3.2Mn
  • Direct advertising sales of $4.4Mn compared to direct advertising sales of $0.6Mn in Q2 2020
  • The Company’s common shares commenced trading on the Nasdaq
  • Raised gross proceeds of $60.1Mn (USD$49.5Mn) in a public offering
  • Completed acquisitions of popular web properties Tabstats and Icy Veins
  • Paid subscribers of approximately 155,000 as at June 30, 2021, as compared to approximately 111,000 subscribers as at June 30, 2020
  • Net and comprehensive loss of $12.8Mn, or $0.11 on a per common share basis
  • Esports division, Luminosity Gaming, ranked as the most watched team on Twitch for each month of the second quarter

After listing on the Nasdaq, completing two major acquisitions and raising $60.1Mn (USD$49.5Mn) to further accelerate our accretive M&A strategy, this has been an exemplary quarter for Enthusiast Gaming,” commented Adrian Montgomery, CEO of Enthusiast Gaming. “We expect to see sequential revenue growth and margin improvements throughout the remainder of the year, driven by momentum in direct sales and our pipeline of acquisitions. While we continue to grow our subscription business from current and newly acquired properties, the game-changer for this vertical is expected to come from Project GG and its premium subscription offering, which will launch as an exclusive alpha to select gamers in late September. Our team’s ability to continue acquiring accretive properties, attract quality partners, and deliver fresh content to our fan communities continues to exceed expectations.

Certain information provided in this news release is extracted from the unaudited condensed consolidated interim fin-an-cial statements (the “Fin-an-cial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the three months ended June 30, 2021 and should be read in conjunction with them. It is only in the context of the information and disclosures contained in the Fin-an-cial Statements and MD&A that an investor can properly analyze this information. The Fin-an-cial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.

Read the full article here.


No. 2 Potential Immediate Term EGLX Catalyst - Strong Analyst Coverage With $10 Price Target

TipRanks recently released an article titled, 3 "Strong Buy" Sto-cks Under $10 That Can Rip Higher.

Enthusiast Gaming Holdings (EGLX) was a main feature of this write up and for good reason. In it, the website reveals H.C. Wainright 5-star analyst, Scott Buck, "sees a clear path ahead for the company’s continued growth."

Here are some more highlights from the article:

  • The company’s owned and operated digital media platform includes more than 100 gaming related websites and more than 1,000 YouTube channels. This significant portfolio of digital properties is coupled with gaming and live event content creating a flywheel in which the company can monetize its digital assets. As monetization improves, revenue growth and gross margin expansion should serve as a meaningful catalyst in attracting new in-vest-ors,” Buck opined.
  • The analyst added, “While the CV-19 pandemic likely accelerated growth in gaming during 2020, we believe there is a foundation of secular growth which is likely to continue for several years.
  • To this end, Buck rates EGLX a Buy and his $10 price target suggests an 80% one-year upside.


No. 3 Potential Immediate Term EGLX Catalyst - A Partnership With A Key Branch Of The U.S. Armed Forces

Enthusiast Gaming Partners with America’s Navy to Increase Awareness with Gen Z Audiences

Partnership to leverage Enthusiast Gaming’s custom esports content and distribution across integrated platform of digital assets

TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ:EGLX) (TSX:EGLX), a media and content platform for video game and esports fans to connect and engage, today announced it has signed an integrated media and esports partnership with America’s Navy. The partnership will include the creation of multiple unique gaming activations incorporating the Company’s talent roster of gamers, creators, and athletes to increase awareness of Navy life and the wide range of professional opp's the Navy offers, including those in high-demand STEM fields.

America’s Navy will be fully integrated into all aspects of the Company’s proprietary flywheel with placement and promotion across its exclusive digital media assets, including YouTube, social media channels, owned and operated video sites, and digital display media. The partnership will also include four custom competitive events featuring the Navy’s esports team, Goats & Glory, battling it out against Enthusiast Gaming’s team Luminosity players, all of which will be livestreamed on Twitch.

In addition, the Navy will be the title sponsor of Luminosity Gaming’s flagship production Luminosity Live, which is viewed by gaming and esports fans all over the world and featuring interactive branded STEM-inspired esports and gaming activations and experiences highlighting the parallels of gaming and esports to that of the STEM skills of Navy Sailors. The major event will feature a face-off between Luminosity Gaming pro-athlete ambassadors and Goats & Glory. The event will also feature live coverage from the Navy esports team’s new training facility in Memphis, Tennessee, which will also serve as their official esports competition stadium.

We are honoured to be selected as a partner by America’s Navy as part of its efforts to use gaming to engage, educate and connect with the Gen Z demographic,” commented Adrian Montgomery, CEO of Enthusiast Gaming. “We are constantly striving to deliver new and quality content and experiences to our community of gaming and esports fans around the world, and this partnership marks another powerful vote of confidence in our platform of digital media assets and our unique ability to reach Gen Z audiences.

America’s Navy is excited to partner with Enthusiast Gaming and to work with a leading North American video game and esports organization, as we continue to seek new and innovative ways to engage with young men and women,” commented Rear Admiral Dennis Velez, Commander of U.S. Navy Recruiting Command. He continued, “Esports requires teamwork, split-second decision making, and effective communications under pressure, which are all integral to Navy life. Our partnership will help demonstrate that Sailors are just like everyone else – they have hobbies, interests, and families.

Read the full article here.


No. 4 Potential Immediate Term EGLX Catalyst - Renewing Sponsorship Deal With G FUEL

Enthusiast Gaming and G FUEL Renew and Expand Partnership to Launch a New Limited-Edition G FUEL Flavour

18-month sponsorship to feature custom content and talent activations and includes the launch of a new G FUEL flavour

TORONTO, July 27, 2021 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ:EGLX) (TSX:EGLX), a media and content platform for video game and esports fans to connect and engage, today announced its esports organization, Luminosity Gaming, has renewed its sponsorship deal with G FUEL, The Official Energy Drink of Esports®, to promote its line-up of gaming and esports energy and hydration drinks. The extended 18-month partnership will feature new custom content from G FUEL and pro gamers on the Luminosity Gaming roster, the launch of a new limited-edition G FUEL flavour, event activations, giveaways, and more. The G FUEL logo will continue to be prominently displayed on Luminosity Gaming’s jerseys, and as part of the expanded partnership, the logo will also be featured on all official Enthusiast Gaming merchandise.

Since the partnership started in early 2020, Luminosity Gaming and G FUEL have continued to create custom content and deliver unique activations for their fans, such as EGLX Digital 2020. The four-day video game expo had over 20 activations — including the Rising Stars competition in which contestants competed for a $100K Luminosity Gaming sponsorship — and was watched by over 12 million people worldwide.

This sponsorship renewal is an important milestone for Enthusiast Gaming as it is another proof point that we are delivering value to our direct sales clients. We are thrilled to continue to be working alongside G FUEL, an iconic brand for gamers, as we give our fans the envelope-pushing content they have come to know and love us for,” commented Adrian Montgomery, CEO of Enthusiast Gaming.

It’s been a pleasure to work with Luminosity Gaming over the past year and a half and watch it grow to become the most watched esports organization on Twitch,” commented Cliff Morgan, Founder and CEO of G FUEL. “We’re very happy to expand our partnership with them and continue to collaborate on custom content and engage with our ever-growing gaming and esports community in new ways.

Read the full article here.


Enthusiast Gaming Holdings Inc. (EGLX) is Led by a Powerhouse Team


Adrian has been a senior officer and director of several public and private companies in the fields of media, sports and entertainment, finance and industrial services. Most recently, he served as president and CEO of Canucks Sports and Entertainment, one of Canada’s premier sports and entertainment organizations. He is the former president of Tuckamore Capital Management, a conglomerate with over $700Mn of annual revenue, and was also the former CEO of QM Environmental, one of Canada’s largest contracting companies. Mr. Montgomery has been active in the political process throughout his career and has served as a political advisor to Leaders at all levels of government. Mr. Montgomery is also a member of the New York State Bar Association.


Menashe began his career in video games when he was 13, writing for IGN, a large gaming media site, where he eventually became a community leader. After studying and subsequently lecturing in the Institute of Advanced Talmudic Law in Jerusalem for eight years, Menashe returned to his passion for the video game industry and launched his first gaming blog, “Nintendo Enthusiast”, in 2011. In 2014, he returned to Toronto and incorporated Enthusiast. He has personally owned and operated gaming websites to a readership of over 2 million gamers, and has led Enthusiast and grown a writing and community staff team of over 84 people.


Alex is an experienced public company CFO and fin-an-cial professional. He was the CFO of Aquilini GameCo Inc., and led the 2019 mergers and acquisitions between Aquilini GameCo, Enthusiast Gaming Properties, Luminosity Gaming, and J55 Capital, becoming the CFO of the resulting issuer (Enthusiast Gaming). Prior to this he was the CFO of TSXV listed Peeks Social Ltd. (previously Keek Inc.) from 2014-2018, having also served on the board of directors in 2015. He is experienced in overseeing “go-public” transactions, managing growth stage companies, and Canadian expansions into the United States. Alex is a Chartered Professional Accountant and Chartered Accountant (CPA, CA) and a graduate of the University of Toronto. He also serves on the board of directors of the NATO Association of Canada, acting as Treasurer on the executive committee.


Eric is a seasoned media and technology executive with a background in finance, corporate development, operations and capital markets. He was the founding CFO of Enthusiast Gaming and later served as its COO, leading the Company through three rounds of seed and growth capital before leading its go-public transaction in 2018 and its merger with Aquilini GameCo/Luminosity Gaming in 2019. He has overseen the growth of the Company from pre revenue to over $100Mn in annual revenue. Currently, as Chief Corporate Officer, Eric oversees Strategy and M&A as well as In-vest-or Relations, Public Relations and Corporate Services.


Thamba is a results-driven executive with a strong track record of driving growth, innovation and digital transformation and joins Enthusiast Gaming after being Managing Partner at a boutique VC firm and prior to that holding various senior executive roles at Rogers Communications for 10 years leading sales & marketing functions including revenue, subscriber growth, product, commercial strategy, pricing, base management, & retention for Mobile and Cable business units. Thamba started his career in Software Development & Product Management with Technology companies including ATI Technologies, AMD, Fed-Ex & a CRM Start-up.


Francesco is a Canadian businessman, in-vest-or, and philanthropist. He has been the managing director of Vancouver-based Aquilini In-vest-ment Group LP, the parent company of several diverse subsidiaries since 1978. Aquilini In-vest-ment Group LP is best known for its ownership of the Vancouver Canucks and Rogers Arena. He obtained his BA from the Simon Fraser University in 1984 and his MBA from University of California, Los Angeles in 1994.


Alan is a seasoned corporate finance professional and is co-founder of a number of TSX and TSX.V listed companies. Alan has extensive experience assembling companies and executing seed fin-an-cing. Alan is a non-practicing attorney and has played an integral role in the acquisition of various assets, fin-an-cings and go-public transactions for many companies. He also worked for a top 5 South African Bank. He is a director of several private and public companies.


Michael is a highly experienced C-level sale and marketing executive with over 20 years’ experience. For almost a decade, Michael held senior sales and marketing positions at NIKE in Asia, Europe and the U.S., including serving as Director of Advertising for NIKE in Europe and Director of Retail for NIKE in the U.S. After leaving NIKE, Mr. Beckerman went on to become the VP Marketing for Canadian Airlines from 1996 to 1999; VP Marketing and International for from 1999 to 2001; Chief Marketing Officer for BMO Fin-an-cial Group from 2001 to 2006; President and then Chief Executive Officer for Ariad Communications from 2006 to 2015 and then CEO of both Ariad and US based Bluespire Marketing until 2016. Since 2016 Mr. Beckerman has run a marketing consulting practice with clients in technology, travel, sports and automotive.


Ben is the EVP, Finance at The Toronto Blue Jays, which is wholly owned by Rogers Communications. Ben has been with Rogers since 2015 where he held the roles of VP & GM of Mobilicity (which Rogers acquired in 2015), and SVP, Finance for the X1 Syndication Program. Previous to Rogers, Ben was the CFO of Pelmorex Media/The Weather Network. Prior to joining Pelmorex Ben was the VP, Corporate Development at Rogers from July 2005 to April 2013 where he was responsible for all M&A activity and completed over 30 transactions.


John is the Co-Founder and Managing Partner of Relay Ventures, a venture capital firm with in-vest-ments from start-up phase to late venture and growth capital across North America. Founded in 2008, Relay Ventures is headquartered in Toronto and has a significant presence in San Francisco. Throughout his career, John has helped entrepreneurs shape their vision and capital plans for long-term, sustainable growth. His tenure in fin-an-ce spans both venture capital and private equity, where he has assisted entrepreneurs through all stages of the start-up lifecycle, from seed fin-an-cing to IPO and M&A advisory.

John holds the Chartered Fin-an-cial Analyst (CFA) designation and received his Bachelor of Business Administration degree from the Schulich School of Business in Toronto. He currently serves on the Board of Directors of theScore, Playmaker Capital, ecobee, TouchBistro, Alate Partners, and the Centre for Aging and Brain Health Innovation, in addition to other professional and philanthropic endeavours.

Company Website


EGLX Recap: Your Top 4 Potential Immediate Term Catalysts

No. 1 - Major Q2 Earnings Update

No. 2 - Strong Analyst Coverage With $10 Price Target

No. 3 - A Partnership With A Key Branch Of The U.S. Armed Forces

No. 4 - Renewing Sponsorship Deal With G FUEL


Coverage is officially initiated on EGLX. When you have time later, do this:


If there are any more updates today, I'll get them out to you quickly.


Kai Parker


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(Always Remember The Stock Prices Could Be Significantly Lower Now From The Dates I Provided.)

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