New Wave Esports Lists on the Canadian Securities Exchange (CSE)
Earlier this year New Wave Esports hoped to become the first esports investment company to become publicly traded. The company provides capital and support services to the esport sector and its shares have now began trading on the Canadian Securities Exchange (CSE) with the stock symbol “NWES”.
We've gone public! New Wave Esports is now listed and publicly traded on the Canadian Stock Exchange (CSE): NWES https://t.co/EykORhyYGa #business #trading #investing #stocks #investment #gaming #esports pic.twitter.com/IT74065ih2
— New Wave Esports (@newwaveesport) October 28, 2019
New Wave Esports invests in, and supports, esports organizations, teams, leagues, events, platforms, tools, and other technology companies. Its esports portfolio includes events company Even Matchup Gaming and Tiidal Gaming who own Canadian esports team Lazarus. This team is one of the highest-earning esports teams globally and is worth $8 million. New Wave also has investments in sports betting platform PlayLine, founded by UFC middleweight champion Michael Bisping, and software and technology company Thunderbolt CDG.
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New avenues for esports investment and industry growth
Of its listing on the CSE, CEO and Managing Partner, Daniel Mitre says:
“We are proud of this milestone for New Wave Esports as we open the doors to the public, allowing fans, players, associated organizations, and communities from around the world to invest in the esports and competitive gaming industry.”
Mitre adds that New Wave has a “strong portfolio” of companies “paving the way for new heights in esports.” He says New Wave Esports growth will “contribute to an industry we are passionate about.” Mitre himself has worked with EA, Sega, THQ, and Activision Blizzard in the past.
Signs a nascent industry will becoming a mature and successful sector
There are now a number of esports companies listed on Canadian and US stock exchanges. This illustrates the growth of the esports industry, its value, and that it is maturing as sector to rival traditional sports. It’s not just players, eSports, and gaming companies, that want a piece of the action, outside investors do too. After all, Goldman Sachs predicts esports industry revenue could reach nearly $3 billion by 2022.
The esports industry is now seeing big name sponsors like McDonald’s, PepsiCo, Nike, and Comcast. Other publicly listed companies, as per The Motley Fool, include Tencent and in the US, Activision Blizzard, Take-Two Interactive and Electronic Arts. Take-Two’s franchise games include Grand Theft Auto and Red Dead Redemption, Electronic Arts titles include FIFA and Apex Legends. In Canada, INVICTUS: Lost Soul creator’s Axion Ventures is listed on the Toronto stock exchange, as is Enthusiast Gaming, Millenial Esports, Victory Square Technologies and others.
Tencent recently strengthened its gaming portfolio by taking a majority stake in the consortium which owns Supercell.
Read also: NERD plans to make it simple to invest in esports