{"id":19204,"date":"2019-10-09T13:40:58","date_gmt":"2019-10-09T17:40:58","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=19204"},"modified":"2019-10-10T09:03:57","modified_gmt":"2019-10-10T13:03:57","slug":"enthusiast-eglx-steel-media-acquisition","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/enthusiast-eglx-steel-media-acquisition\/","title":{"rendered":"Enthusiast Closes Steel Media Acquisition"},"content":{"rendered":"<p><span data-contrast=\"auto\">Keeping up a string of mergers and acquisitions throughout the year, <\/span><b><span data-contrast=\"auto\">Enthusiast Gaming Holdings Inc<\/span><\/b><span data-contrast=\"auto\">. [stock_market_widget type=\"inline\" template=\"generic\" color=\"default\" assets=\"EGLX.V\" markup=\"(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))\" api=\"yf\"] [stock_market_widget type=\"inline\" template=\"generic\" color=\"default\" assets=\"2AV\" markup=\"(FSE: {symbol} {currency_symbol}{price} ({change_pct}))\" api=\"yf\"] just <\/span><a href=\"https:\/\/www.enthusiastgaming.com\/enthusiast-gaming-closes-acquisition-of-steel-media-a-leader-in-mobile-gaming\/\"><span data-contrast=\"none\">closed the acquisition<\/span><\/a><span data-contrast=\"auto\">\u00a0of mobile gaming website conglomerate\u00a0Steel Media Limited.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The closing of that cash and stock deal sees Enthusiast gain access to Steel&#8217;s line of 20 media websites focused on handheld and phone-based gaming, including Pocket Gamer, AppSpy, Block Chain Gamer, and PC Games Insider.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Under the terms of the deal, Enthusiast is offering up an immediate cash payment of $1.9 million and issuing just over 300,000 common shares to acquire 100% of Steel Media.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Now operating under the Enthusiast banner, Steel Media will continue to be led by Chief Executive Officer Chris James as the company moves forward with its B2B mobile game conferences such as Pocket Gamer Connects and the Mobile Game Awards.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Discussing this latest acquisition closing this week,\u00a0Enthusiast Gaming President\u00a0Menashe Kestenbaum commented:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><div class=\"su-quote su-quote-style-default\"><div class=\"su-quote-inner su-u-clearfix su-u-trim\"> We have seen a significant increase in mobile gaming and it continues to be a huge segment within the overall industry. Steel Media has built a well-recognized brand across mobile, B2B, and events that will allow us to continue capitalizing on the growth of mobile gaming and drive further revenue synergies across two of our three pillars: media and events.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"> <\/div><\/div><\/span><\/p>\n<p><span data-contrast=\"auto\">With the buyout deal officially closed, Enthusiast now runs more than 100 gaming-focused websites across all major platforms, in addition to nearly 1,000 YouTube channels and 30 gaming events worldwide. The company additionally sponsors 7 pro eSports teams.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">On the sports front, Enthusiast inked a deal with\u00a0NFL cornerback Richard Sherman last month to serve as a global ambassador for the company\u2019s eSports brand Luminosity Gaming.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While partnered with Luminosity, Sherman will promote events as well as engage in a number of eSports challenges against his fellow teammates and other NFL rivals from opposing teams.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In other recent acquisition news, Enthusiast also\u00a0<\/span><a href=\"https:\/\/capital10x.com\/old\/enthusiast-eglxv-sims-resource\/\"><span data-contrast=\"none\">bought out The Sims Resource<\/span><\/a><span data-contrast=\"auto\">\u00a0last month, adding one of the largest populations of primarily female\u00a0<\/span><i><span data-contrast=\"auto\">Sims<\/span><\/i><span data-contrast=\"auto\"> game content creators on the web. That site recently saw a surge of new activity with the release of the Realm <\/span><span data-contrast=\"auto\">Of<\/span><span data-contrast=\"auto\">\u00a0Magic expansion for\u00a0<\/span><i><span data-contrast=\"auto\">The Sims 4\u00a0<\/span><\/i><span data-contrast=\"auto\">on PC.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Keeping up a string of mergers and acquisitions throughout the year, Enthusiast Gaming Holdings Inc. (TSXV: EGLX) just closed the acquisition\u00a0of mobile gaming website conglomerate\u00a0Steel Media Limited.\u00a0<\/p>\n","protected":false},"author":12,"featured_media":18322,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1112],"tags":[1254,208,1123,1229,1253],"class_list":["post-19204","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tech","tag-2av","tag-company-news","tag-eglx","tag-eglx-v","tag-enthusiast-gaming"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enthusiast Closes Steel Media Acquisition | Capital 10X<\/title>\n<meta name=\"description\" content=\"Keeping up a string of mergers and acquisitions throughout the year, Enthusiast Gaming Holdings Inc. 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