Luminosity Gaming to compete in North American League of Legends esports beginning in Spring of 2025

LOS ANGELES, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. ("Enthusiast Gaming'' or the "Company") (TSX: EGLX), a leading gaming media and entertainment company, today announced that Luminosity Gaming, the company's esports division, is expanding into League of Legends by joining the North American Challengers League ("NACL") beginning in the Spring of 2025.

League of Legends continues to dominate the global esports ecosystem, with this year's League of Legends World Championship reaching more than 6.9 million peak concurrent viewers across the globe, breaking esports viewership records. League of Legends is also seeing continued growth and success outside of esports with their recent animated show, Arcane, becoming the most expensive animated show ever created.

Luminosity will aim to transition its success from other esports titles including other MOBAs such as Pokémon Unite where they are the 2023 World Champions and 2024 LAIC Champions.

"We're very excited about Luminosity's new entry into League of Legends," said Alex Gonzalez, SVP of Talent, Gaming & Marketing for Enthusiast Gaming. "The NACL represents an extremely cost-effective way for us to participate meaningfully in League of Legends esports, while the changes to the LCS and NACL promotion system means we have a direct path to promotion into the top ranks of competitive League of Legends in North America if and when we can field a championship roster. We expect to be immediately competitive in our first year in the NACL and plan to work closely with Riot to help grow the North American competitive scene."

On a monthly basis, League of Legends is played by over 27 million unique players in North America alone, with over 10 million of those players leveraging Enthusiast Gaming's U.GG property. U.GG is the number one League of Legends analytics platform in North America, providing the best League of Legends data, builds & content for players to enhance their gameplay and continue their climb into the game's top ranks. By strategically aligning the Company's Luminosity esports division with the content drivers underlying Enthusiast's highly engaged communities, the Company is able to create more points of engagement and a cohesive narrative throughout its user acquisition funnel, while simultaneously providing Enthusiast with a variety of new and unique ways to execute and activate brand sponsorships and campaigns across the League of Legends community through the combined success of two of its flagship properties, Luminosity Gaming and U.GG.

About Enthusiast Gaming
Enthusiast Gaming is the leading gaming media and entertainment company in North America, building the largest platform for video game enthusiasts and esports fans to connect and compete worldwide. Combining the elements of its five core pillars: creators, content, communities, games, and experiences, Enthusiast Gaming provides a unique opportunity for marketers to create integrated brand solutions to connect with coveted Gen Z and Millennial audiences. Through its proprietary mix of digital media, content and gaming assets, Enthusiast Gaming continues to grow its network of communities, reflecting the scale and diversity of gaming enthusiasts today.

Forward Looking Information
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Enthusiast Gaming anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company's strategic initiatives, events and campaigns.

Forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions concerning interest and foreign exchange rates; capital efficiencies, cost saving and synergies; growth and growth rates; the success in the esports and media industry; and the Company's growth plan. While Enthusiast Gaming considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; the timing and filing of the final base shelf prospectus and corresponding Registration Statement; the potential offering of any Securities by the Company; uncertainty with respect to the completion of any future offering; the ability to obtain applicable regulatory approvals for any contemplated offerings; the ability of the Company to negotiate and complete future funding transactions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast Gaming which are available on SEDAR+ at . Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT: Contacts
Enthusiast Gaming: Felicia DellaFortuna, Chief Financial Officer
Investors: investor@enthusiastgaming.com
Media: press@enthusiastgaming.com