Simplicity Esports and Gaming Company Moves to Increase Size of Esports Gaming Centers
Boca Raton, Florida, June 16, 2020 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB:WINR) (“Simplicity Esports”), an owner and manager of multiple esports teams, host of online tournaments and franchisor of esports gaming centers, announced today that it has received multiple proposals from commercial property owners to open 8,000 to 12,000 sq. ft. esports gaming centers. The proposals include tenant improvement allowances to offset the buildout cost of each center. The lease proposals do not require a specified fixed rent, but instead rent is calculated as a percentage of gross sales, a signal of the landlords’ belief in the appeal of Simplicity Esports’ gaming center business model, and growth potential.
Roman Franklin, President of Simplicity Esports, stated, “The disruption in commercial real estate, as a result of COVID-19, has created more attractive opportunities for us to expand our footprint of gaming centers with a larger floorplan that provides space for social distancing. The average size of existing franchisee-owned gaming centers is 2,500 sq. ft. As we previously announced, we are partnering with Ecolab, Inc. to supply our esports gaming centers with disinfectants, soap, sanitizer, and other cleaning products. Additionally, we are pivoting to more spacious Simplicity Esports owned gaming centers that will position us to provide venues for everyday gaming, as well as larger scale tournaments with accommodations for social distancing guidelines. The success of our online tournaments has also created an opportunity for future in-person finals that will serve as the culmination of multiple weeks of online tournaments, in which the top performing gamers will qualify for the in-person finals.”
About Simplicity Esports and Gaming Company:
Simplicity Esports and Gaming Company (WINR) is an established brand within the esports industry, competing and streaming in popular games across different genres, including Apex Legends®, PUBG Mobile®, Overwatch®, League of Legends®, and various EA Sports® titles. Additionally, Simplicity Esports operates as a franchisor of Esports Gaming Centers that provide the public an opportunity to experience and enjoy gaming and esports in a social setting, regardless of skill or experience.
Apex Legends®, PUBG Mobile®, Overwatch®, League of Legends®, Fortnite® and EA Sports® are registered trademarks of their respective owners.
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond Simplicity Esports’ control, including those set forth in the Risk Factors section of Simplicity Esports’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on August 29, 2019 and our subsequent SEC filings, as amended or updated from time to time. Copies of Simplicity Esports’ filings with the SEC are available on the SEC’s website at www.sec.gov. Simplicity Esports undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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Released June 16, 2020