Simplicity Esports closes major acquisition of Playlive
Boca Raton, Florida, July 31, 2019 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (WINR) (“Simplicity Esports”) announced today that it has closed the previously announced acquisition ofPLAYlive Nation, Inc. (“PLAYlive”).PLAYlive has a network of 44 franchised Gaming Centers across 11 states, including but not limited to, California, Washington, Arizona, and Texas, serving over 150,000 unique gamers annually. PLAYlive Centers are highly complimentary to Simplicity Esports Gaming Centers, that offer gamers a specialized entertainment gaming experience within a social setting.
Jed Kaplan, CEO of Simplicity Esports, stated, “I look forward to increasing the focus of current and future PLAYlive Gaming Centers on esports, as we integrate the Simplicity Esports brand.We expect that competitive tournaments, grass roots community leagues, and special events centered around esports will attract a broadened population of gamers, from diverse backgrounds, to our Gaming Centers.Having a nationwide footprint of esports Gaming Centers gives us the opportunity to allow our fan base to meet, engage, and play against our professional players, as they tour the country and stop in for unique promotional events.”
The equity owners of PLAYlive received 750,000 shares of Simplicity Esports restricted common stock as full consideration for the acquisition, demonstrating the former PLAYlive owners’ confidence in Simplicity Esports and its management.
Members of PLAYlive’s management team, including Duncan Wood, its CEO , will remain in their current roles after the closing and have entered into three-year employment agreements with Simplicity Esports.Mr. Wood will also be nominated by Simplicity Esports for a seat on the Board of Directors at its next annual shareholder meeting.
Duncan Wood, CEO of PLAYlive stated, “We continue to discover new and attractive projects to undertake with Simplicity Esports.I am confident the merger of PLAYlive Nation and Simplicity Esports will create shareholder value, and honored the board of directors desired for me to maintain my position with PLAYlive Nation, as well as be nominated to join the board.I will strive to progress our organization in the best manner possible while honoring my belief in core leadership and continue my commitment to providing the best environment for our customers and staff.”