Addicting Games, a maker of casual games, has agreed to be acquired by Enthusiast Gaming, a publicly traded (TSX:EGLX) community platform for gamers and esports fans that reaches over 300M per month. The transaction is a combination of stock and equity with an initial $10M in cash, $12M in stock, and the remainder as deferred payments. “We’re excited to join the Enthusiast Gaming family,” remarked Bill Karamouzis, CEO and Cofounder of Addicting Games. “Combining Enthusiast Gaming’s scale and expertise with our properties and titles will increase engagement, drive new revenue opportunities, and provide the resources to develop new titles and fan experiences.”
We’re excited to join the Enthusiast Gaming family. Combining Enthusiast Gaming’s scale and expertise with our properties and titles will increase engagement, drive new revenue opportunities, and provide the resources to develop new titles and fan experiences. – Bill Karamouzis
Addicting Games was founded by Karamouzis and Ira Willey in 2002. The company operates 1500+ games on web and mobile with a monthly audience of approximately ten million. Karamouzis and Willey had initially sold the business to Atom Entertainment in 2005 and ended up buying it back in 2018. Enthusiast Gaming stock was down slightly on the news (1.82%) with a market cap of $695M CAD (~$555M USD).
“I’m thrilled to announce the acquisition of Addicting Games, a pioneer in casual gaming with nearly twenty years of experience building a loyal audience of gamers,” said Adrian Montgomery, CEO of Enthusiast Gaming. “Addicting Games integrates with existing advertising and subscription revenue streams and unlocks new streams such as in-game purchases, and other affiliate type deals. At the same time, our media platforms and influencers will expand the reach of Addicting Games’ current titles. I look forward to welcoming the Addicting Games team to the Enthusiast Gaming family.”
I’m thrilled to announce the acquisition of Addicting Games, a pioneer in casual gaming with nearly twenty years of experience building a loyal audience of gamers.Addicting Games integrates with existing advertising and subscription revenue streams and unlocks new streams such as in-game purchases, and other affiliate type deals. At the same time, our media platforms and influencers will expand the reach of Addicting Games’ current titles. I look forward to welcoming the Addicting Games team to the Enthusiast Gaming family. – Adrian Montgomery
