Business
Simplicity Esports and Gaming Company to Acquire 44 New Gaming Centers - Enters into Definitive Agreement to Acquire PLAYlive Nation, Inc.
Simplicity Esports and Gaming Company to Acquire 44 New Gaming Centers - Enters into Definitive Agreement to Acquire PLAYlive Nation, Inc..
About this update from Simplicity Esports And Gaming Company
[{"type":"text","content":"\nBoca Raton, Florida, July 29, 2019 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB: WINR) (“Simplicity Esports”) announced today that it has entered into a definitive agreement to acquire PLAYlive Nation, Inc. (“PLAYlive”) in an all stock transaction. Founded in 2009 PLAYlive has a network of 44 franchised Gaming Centers across 11 states, serving over 150,000 unique gamers annually. The PLAYlive Centers offer customers a specialized entertainment gaming experience within a social setting. Customers are provided the opportunity to play and compete across an array of gaming titles on both consoles and high performance gaming PCs. Additionally, PLAYlive Gaming Centers serve as community gathering spaces for enthusiasts to play both board and card games such as Magic: The Gathering, Yu-Gi-Oh, and Pokémon.\n Jed Kaplan, CEO of Simplicity Esports, stated, “I am proud to announce the acquisition of PLAYlive which further demonstrates management’s commitment to reach our aforementioned goal to operate 50 Esports Gaming Centers. PLAYlive combined with existing Simplicity Esports Gaming Centers, represents the largest brick and mortar footprint of Esports Gaming Centers, affiliated with an esports organization in North America. We intend to leverage our vast footprint to further implement our brick and click approach connecting esports fans, players, gamers and influencers on a large scale, thereby representing attractive opportunities for corporate partnerships. Simplicity Esports will host competitive tournaments, grass roots community leagues, and special events connecting both professional and casual gamers with our brand.” CEO of PLAYlive, Duncan Wood noted, “Joining forces with the first pure play publicly traded esports organization in North America is extremely exciting. The combination of our companies will create an industry leader and define the future of Esports Gaming Centers. My confidence in Simplicity Esports’ management’s ability to increase shareholder value, is reflected in my receiving restricted shares of common stock as consideration for the transaction.” The closing of the acquisition is anticipated to occur within the next 10 days, and remains subject to customary closing conditions. About Simplicity Esports and Gaming Company...