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Enthusiast Gaming Announces Q2 2020 Financial Results

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Enthusiast Gaming Holdings Inc. has announced its financial results for the second quarter of 2020. All financial information is presented in Canadian dollars unless otherwise indicated.

Q2 2020 total revenue was $7.0 million, compared to $7.1 million for the three months ended March 31, 2020. Q2 revenue exceeded management’s expectations, driven by the Company’s media division outperforming amidst the COVID-19 pandemic. Annualised revenue per viewer in Q2 2020 was $0.12 increasing from $0.10 in Q1 2020.

Q2 2020 gross margin was 46%, compared to 46% in Q1 2020 and 34% in Q4 2019. The increase in gross margin in the current year as compared to Q4 2019 is attributable to the growth of higher margin revenue streams including direct sales and subscriptions, which are expected to continue to grow. Viewer engagement increased 35% to 3.1 billion page views across the media platform, as compared to 2.3 billion page views during Q1 2020.

Net loss in Q2 2020 was $5.2 million and net loss per share was $0.07. Net loss includes $1.4 million of interest and accretion, $1.1 million of amortisation and depreciation, $0.3 million of share-based compensation and a deferred income tax recovery of $0.4 million. The Company ended Q2 2020 with a strong cash position of $8.4 million.

“I am pleased with our strong Q2 performance, even against the backdrop of a global pandemic which negatively affected advertising rates across the board. It was exciting to see our direct sales team emerge as a valuable contributor to both revenue and margin, as well as our Pocket Gamer events successfully move online. Our media revenue growth was further strengthened by a surge in subscriptions and an increase in ads served, and this momentum in our different revenue streams continues into Q3,” Adrian Montgomery, CEO of Enthusiast Gaming, said.

“Our Q2 results follow the transformational acquisition of Omnia Media announced last week. Acquiring Omnia will not only change the entire landscape of our business, but will also add immediate value both operationally and financially across every aspect of our platform, which will start to be reflected next quarter. The combination is highly complementary with our key priorities, and we look forward to working with Omnia’s experienced team as we integrate the businesses,” he added.

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Vlad Marinescu Re-Elected as 10th IESF President

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The International Esports Federation (IESF) concluded its 17th Ordinary General Meeting (OGM) in Kuala Lumpur, Malaysia, alongside the 17th World Esports Championship Mobile Legends: Bang Bang (MLBB) Finals. Member federations from around the world gathered to review the federation’s annual progress, adopt key motions, and participate in the 10th IESF Elections, marking a milestone moment in the federation’s governance history.

During the election session, Vlad Marinescu was re-elected as the 10th President of the IESF, securing his second term. His re-election reflects the continued confidence of the membership in his leadership and vision for the future of the World of Esports.

“I am truly grateful for the trust placed in me to continue leading the International Esports Federation,” Marinescu said. “As we mark our 10th election cycle, we remain steadfast in our commitment to unity, transparency, and the sustained growth of the World of Esports.”

Delegates reviewed strategic priorities for the year ahead, including enhanced governance standards, expanded athlete development initiatives, and strengthened international cooperation. Voting on member-submitted motions underscored the federation’s collective commitment to advancing integrity, professionalism, and institutional maturity across the esports ecosystem.

The assembly also elected the IESF Board for 2026, comprising:

Board Members:

  • HRH Prince Omar Bin Faisal – Jordan

  • Afiq Fadhli Bin Narawi – Malaysia

  • Elin Yoojung Moen – Norway

  • Clint Kennedy – United States

  • Flip De Bruyn – Namibia

The OGM concluded as the 17th World Esports Championship MLBB Finals continued, highlighting IESF’s ongoing mission to unite nations through Esports and support athletes, federations, and fans worldwide.

The post Vlad Marinescu Re-Elected as 10th IESF President appeared first on European Gaming Industry News.

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GG.BET launches Bet Builder for a new way to bet

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Customers can now use Bet Builder, a format that lets them build their own set of markets on one match into a single bet with higher odds. Bet Builder is available for both esports and sports events. You can try out the new feature with a deposit bonus of up to 150% and a free bet worth up to $50.

Customers can now place a combined bet on a single match by picking various options for how events in the match will play out. For example, in CS2, customers can choose which team will win on a specific map, how many kills a specific player will rack up, how many rounds will be played on a single map, and so on.

To place a Bet Builder bet, pick an event that hasn’t started yet, press the ‘Bet Builder’ button, put together your selection of markets from those available, get higher combo odds, and finish placing the bet in one click. At this initial stage, GG.BET is offering Bet Builder on football, basketball, hockey, CS2, Dota 2, LoL, and VALORANT, with more sports and disciplines to be added down the line.

“GG.BET has always been known for embracing unconventional markets and elaborate betting options. Bet Builder is there to meet customer demand for more interesting formats in a single match. The ability to make predictions right down to a specific round and any other tiny detail of a match is what gives users variety and improves their skills,” the GG.BET press office explained.

GG.BET is offering customers the opportunity to test out the Bet Builder format with a deposit bonus of up to 150% and a free bet of up to $50.

The post GG.BET launches Bet Builder for a new way to bet appeared first on European Gaming Industry News.

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IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur

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The World Esports Championship 2025 (WEC25) is officially open in Kuala Lumpur, welcoming athletes, fans, and delegations from around the globe. With 19 nations taking part in Mobile Legends: Bang Bang (MLBB), this year’s event stands as the most internationally diverse MLBB competition in IESF history.

After a year filled with national and regional qualifiers and preparations from teams around the world, the world’s top esports athletes have arrived in Malaysia’s capital, Kuala Lumpur. The opening ceremony set the tone for the days ahead, offering fans a first glimpse of the excitement and atmosphere surrounding this year’s championship.

“WEC25 reflects the continued growth of esports as a space for connection, competition, and shared passion,” said IESF General Secretary Boban Totovski. “Bringing together 19 nations for MLBB is a milestone not just for the title, but for the entire esports ecosystem. We are proud to bring this edition of the championship to Kuala Lumpur.”

As the competition officially kicks off, the schedule is fully packed with exciting match-ups among Nations, competing for their flag and country. The best from all over the world will have the unique opportunity to become the MLBB World Champion.

IESF extends its gratitude to the Malaysian government and the Ministry for Youth and Sports, partners, athletes, and global supporters who continue to elevate the championship’s reach and impact.

The post IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur appeared first on European Gaming Industry News.

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