Millennial Esports Acquiring Majority Stake In LetsGoRacing

Shifting gears strongly towards the racing side of the eSports industry, Millennial Esports  just entered a binding letter of intent to acquire a majority stake in a UK-based YouTube motorsports channel. 

LetsGoRacing covers a variety of real life and digital racing events and topics, from news to highlight reels to top 5 listicle content. 

The channel boasts 40 million views in its six years of existence, with 1.6 million of those coming from a recent highlights reel covering the Worlds Fastest Gamer competition.  

The cash and stock deal is expected to close by the end of the month, and will see Millennial paying out £315,000 GBP directly while also issuing £136,000 GBP worth of common shares if it overcomes all regulatory hurdles. 

LetsGoRacing Channel co-founder Andrew Hill commented on the acquisition deal this morning: 

This is Millennial’s second major racing-based acquisition announced in recent weeks, with the company paying out £60,000 GBP in stock and £140,000 GBP in cash to acquire a controlling stake in DriverDB.com. 

As part of the company’s ongoing re-branding as a racing-focused eSports entity, Millennial recently held a meeting asking shareholders to approve a name change to Torque Esports Corp, in addition to seeking approval for share consolidation.  

Millennial is also currently involved with a new eSports racing arena being constructed in Miami that will serve as a dual usage location for training and hosting live events. That is expected to be the first in a series of training facilities around the country as eSports continue to see a rise in popularity.

In other eSports racing events news, 20-year-old Lohan “LDLC_NEXL” Blanc took home his second WRC eSports World Championship this month when the series finished off the Wales Rally GB grand finale last weekend. After being crowned champion, Blanc was awarded a Hyundai i20 as his grand prize.