Publicly traded esports and gaming company GameSquare (NASDAQ:GAME, TSXV:GAME) and publicly-traded esports organization Enthusiast Gaming (NASDAQ:EGLX, TSX:EGLX) are in talks to purchase Los Angeles-based, publicly-traded esports and gaming lifestyle company FaZe Holdings (NASDAQ: FAZE), according to a report from Sports Business Journal esports reporter Kevin Hitt.
Several sources “close to the process” speaking to Hitt claim that both of these deals would likely include a combination of an “equity swap deal and a possible cash infusion.”
The Esports Advocate has reached out to Enthusiast Gaming, GameSquare, and FaZe Holdings for confirmation and additional comments, and will update this story as more information becomes available.
Earlier this month at its 2023 Annual Meeting of Stockholders, FaZe Holdings shareholders voted to approve a reverse stock split of the company’s outstanding shares of common stock. The ratio of the reverse stock split will be 1-for-20 or 1-for-30 and will be put into effect at a date to be determined.
Enthusiast Gaming holds a management contract for the Vancouver Titans and Seattle Surge through a deal with owners Aquilini Investment Group, and owns a number of esports and gaming media properties including Luminosity Gaming, Storied, Addicting Games, Pocket Gamer, The Sims Resource, UGG, Arcade Cloud, Fantasy Football Scout, Wisecrack, BCC, and many others.
GameSquare owns esports organization Complexity Gaming, production studio Fourth Frame Studios, digital advertising consultancy Frankly Media, and streaming data analytics platform Stream Hatchet. GameSquare is also home to popular streamer Tim “Timthetatman” Betar, and Tyler “Ninja” Blevins, who joined the company as its chief innovation officer earlier this year and co-launched Ninja Labs.
This is a developing story…