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EnthusiastGaming Enthusiast Gaming Reports Second Quarter 2021 Results Consolidated revenue of $ 37.1 million , including record direct sales of $ 4.4 million Paid subscribers grew to a record 155,000 TORONTO , Aug. 10 , 2021 ( GLOBE NEWSWIRE ) . Enthusiast Gaming Holdings Inc. ( NASDAQ : EGLX ) ( TSX : EGLX ) , ( " Enthusiast Gaming " or the " Company " ) , today announced financial results for the three and six months ended June 30 , 2021 . All amounts are stated in Canadian dollars unless otherwise indicated . Second Quarter 2021 Financial and Operating Highlights • Revenue of $ 37.1 million for the three months ended June 30 , 2021 vs the three months ended June 30 , 2020 ( " Q2 2020 " ) revenue of $ 7.0 million • Gross profit of $ 8.0 million vs Q2 2020 gross profit of $ 3.2 million • Direct advertising sales of $ 4.4 million compared to direct advertising sales of $ 0.6 million in Q2 2020 • The Company's common shares commented trading on the Nasdaq • Raised gross proceeds of $ 60.1 million ( USD $ 49.5 million ) in a public offering Completed acquisitions of popular web properties Tabstats and Icy Veins • Paid subscribers of approximately 155,000 as at June 30 , 2021 , as compared to approximately 111,000 subscribers as at June 30 , 2020 • Net and comprehensive loss of $ 12.8 million , or $ 0.11 on a per common share basis Esports division , Luminosity Gaming , ranked as the most watched team on Twitch for each month of the second quarter " After listing on the Nasdaq , completing two major acquisitions and raising $ 60.1 million ( USD $ 49.5 million ) to further accelerate our accretive M & A strategy , this has been an exemplary quarter for Enthusiast Gaming , " commented Adrian Montgomery , CEO of Enthusiast Gaming . " We expect to see sequential revenue growth and margin improvements throughout the remainder of the year , driven by momentum in direct sales and our pipeline of acquisitions . While we continue to grow our subscription business from current and newly acquired properties , the game - changer for this vertical is expected to come from Project GG and its premium subscription offering , which will launch as an exclusive alpha to select gamers in late September . Our team's ability to continue acquiring accretive properties , attract quality partners , and deliver fresh content to our fan communities continues to exceed expectations . " Certain information provided in this news release is extracted from the unaudited condensed consolidated interim financial statements ( the " Financial Statements " ) and Management's Discussion & Analysis ( “ MD & A " ) of the Company for the three months ended June 30 , 2021 and should be read in conjunction with them . It is only in the context of the information and disclosures contained in the Financial Statements and MD & A that an investor can properly analyze this information . The Financial Statements and MD & A can be found under the Company's profile on SEDAR and EDGAR . Earnings Announcement and Supplemental Information Management will host a conference call and webcast on August 10 , 2021 , at 5:00 p.m. ET to review and discuss the second quarter 2021 results . Conference call dial - in details : North America ( toll - free ) : +1 877-300-8521 International : +1 412-317-6026 Conference ID : 10159262 A live webcast can be accessed at https://www.enthusiastgaming.com/investors/ . If you are unable to join live , an archived recording of the webcast will be available on the investor relations section of the Enthusiast Gaming website . About Enthusiast Gaming Enthusiast Gaming is building the largest media platform for video game and esports fans to connect and engage worldwide . Combining the elements of its four core pillars ; Media , Talent , Esports and Experiences , Enthusiast Gaming provides a unique opportunity and integrated approach to reach and connect with its coveted GenZ and Millennial audience . Through its proprietary mix of digital media and entertainment assets , Enthusiast Gaming has built a vast network of like - minded communities to deliver the ultimate fan experience . Contacts Enthusiast Gaming Investor Relations : Eric Bernofsky , Chief Corporate Officer