esports investments are a joke - there's so much dumb money in this space!
look at this "billion dollar" publicly traded company: $EGLX
Enthusiastic Gaming is a holdco of random assets ranging from the most popular website for The Sims, to a minority stake in the vancouver overwatch team.
It's not a bad company...it's just not worth $1b
here's a quick scan of their last quarter report
looks like they rolled up a bunch of companies:
- Bought @Luminosity for $1.5M cash, 7.5M stock
- Bought a couple agencies for $13M cash + more stock
- started trading on the TSX in january, up ~4x in a year.
They are basically an ad agency for gaming channels + websites