Simplicity Esports and Gaming Co (WINR)

[namah sivaya]

WINR adds 4 more corporate owned centers. adding at least $1M in revs...

Simplicity Esports and Gaming Company Signs Non-binding Letters of Intent to Acquire Four Esports Gaming Centers in All Stock Deals


Boca Raton, Florida, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB:WINR) (“Simplicity Esports”), announced today that it has signed non-binding letters of intent (“LOIs”) to acquire four franchisee owned esports gaming centers. These gaming centers generated over $1,000,000 in combined revenues in 2019. The closing of the acquisitions is expected to occur by September 30th, and is subject to standard due diligence, execution of definitive agreements, and completion of leases with improved terms with the respective landlords.

Roman Franklin, President of Simplicity Esports, stated, “On the heels of the successful acquisition of PL Gaming Texas LLC in El Paso, TX, a former franchisee owned location, we continue to execute on our strategy of growing revenue via acquisitions of existing, franchisee owned gaming centers. The role of our wholly owned subsidiary, PLAYlive Nation, Inc., as franchisor gives us direct insight into the financial performance, operations, and existing customer base of these franchisee owned gaming centers. Previously, Simplicity Esports has only reported the royalties collected from these franchisee owned locations, which is a small fraction of the overall revenue. These transactions, if closed, would allow us to report the full revenues generated by these gaming centers on a consolidated basis. As a result of signing leases with significantly improved terms including percentage rents, we expect each location to be cash flow positive during calendar year 2020.”

https://www.globenewswire.com/news-release/2020/09/08/2090323/0/en/Simplicity-Esports-and-Gaming-Company-Signs-Non-binding-Letters-of-Intent-to-Acquire-Four-Esports-Gaming-Centers-in-All-Stock-Deals.html