Esports Entertainment Group’s ggCircuit to Install ALPHA at Four Simplicity eSports Locations; Expected To Generate Approximately $1,500,000 in Multi-Year Revenue

 


Esports Entertainment Group’s ggCircuit to Install ALPHA at Four Simplicity eSports Locations; Expected To Generate Approximately $1,500,000 in Multi-Year Revenue

Research, News, and Market Data on eSports Entertainment Group

 

Hoboken, New Jersey–(Newsfile Corp. – December 6, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) announced today that its ggCircuit brand will install the ALPHA software solution at four Simplicity Esports and Gaming Company (OTCQB: WINR) (or “Simplicity Esports”) locations in a deal the Company expects will generate approximately $1.5 million in revenue over the next five years.

ALPHA (short for Automated LAN Programming, Hardware, & Assistance) is an eSports software and support package for venues that want to focus on their business vision by outsourcing their technology needs to ggCircuit. By partnering with ggCircuit to deploy ALPHA, venues get access to a team with 20 years of eSports management experience to implement turnkey solutions, sourcing, setup and support services that allow venue operators to more efficiently and effectively manage and grow their business.

“We’re extremely excited to bring the extensive capabilities of ALPHA to these four facilities managed by Simplicity Esports’ team,” said Magnus Leppäniemi, President of Esports at Esports Entertainment Group. “We believe ALPHA will greatly enhance their operations and improve the appeal and revenue generating power of their venues. Furthermore, Simplicity will have access to ggCircuit’s cryptocurrency mining application, which recently surpassed the $1.5 million mark in mined currency.”

“Our continued relationship with Esports Entertainment Group and ggCircuit has provided us with the ability to deliver top notch gaming services to our customers across the country inside the largest footprint of esports gaming centers in North America,” said Roman Franklin, CEO of Simplicity Esports. “We began mining cryptocurrency in June, and having the ability to do so at four more locations by replacing older consoles with gaming PCs powered by NVIDIA 3090 graphics processing units, will only increase our mining revenue and the quality of our customers’ gaming experiences.”

Simplicity Esports will earn approximately $225,000 per location in cryptocurrency mining revenue over the next five years, based on current cryptocurrency prices, in addition to game time revenue from each location. Simplicity Esports previously announced it intends to upgrade 450 more of its existing console stations to powerful mining PCs.

About Simplicity Esports and Gaming Company:

Simplicity Esports and Gaming Company (WINR) owns 17 esports gaming centers, and is the franchisor for 16 esports gaming centers that give the public an opportunity to experience gaming and esports in competitive and casual social settings, regardless of skill or experience. Simplicity Esports also owns a Riot Games League of Legends franchise and top Brazilian esports organization, Flamengo Esports. Simplicity and Flamengo branded teams compete in popular games such as League of Legends®, FreeFire®, Wild Rift®, and Heroes of the Storm®. Simplicity Esports is also in the process of designing, minting, and selling non-fungible tokens (NFTs) for the esports and gaming industries. Simplicity Esports also organizes and hosts various in-person events and play from home, online tournaments.

FreeFire®, Heroes of the Storm®, League of Legends®, and Wild Rift® are registered trademarks of their respective owners.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Schwazze (SHWZ) – New Mexico Entry; Capital Raise

Monday, December 06, 2021

Schwazze (SHWZ)
New Mexico Entry; Capital Raise

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Transformational. Friday, Schwazze announced a $95 million capital raise and entry into the New Mexico market. These transactions are transformational for the Company, in our view. The capital from the raise will support Schwazze in achieving its growth target of doubling pro forma revenue by the end of 1Q22, while, with New Mexico, Schwazze is transforming into a super regional from a single state operator.

    Capital Raise.  Schwazze is raising $95 million ($93 million net) through the sale of convertible notes to institutional investors and individuals. The notes will accrue 13% interest per year (9% payable in cash and 4% accreting to the principal amount) and have a 5-year term. Proceeds from the notes will be used to fund the cash consideration of recently announced acquisitions and other growth and …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Esports Entertainment Group Announces Preferred Stock Dividend

 


Esports Entertainment Group Announces Preferred Stock Dividend

Research, News, and Market Data on eSports Entertainment Group

 

Hoboken, New Jersey–(Newsfile Corp. – December 3, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) is pleased to announce that the holders of record of the Company’s 10.0% Series A Cumulative Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”) as of the close of business on December 15, 2021 will receive a cash dividend equal to $0.12 per Series A Preferred Stock share. The cash dividend will be paid on December 31, 2021.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Release – Schwazze Announces Transformational Capital Raise Entry Into New Mexico Provides Business Update



Schwazze Announces Transformational Capital Raise, Entry Into New Mexico & Provides Business Update

Research, News, and Market Data on Schwazze

 

Transformational $95 Million Private Financing for M&A Initiatives & Further Expansion Plans

Signs Definitive Agreement to Acquire & Manage New Mexico Assets: Reynold Greenleaf & Associates, R. Greenleaf Organics, Medzen Services, Elemental Kitchen & Laboratories  

Schwazze Transitions to a Regional Operator with New Mexico Acquisitions

DENVER, Dec. 3, 2021 /CNW/ – Schwazze, (OTCQX:SHWZ) (“Schwazze” or the “Company”), one of the largest vertically integrated cannabis operators in Colorado, has entered into a securities purchase agreement with institutional investors and individuals under which the Company will issue and sell, subject to customary closing conditions, $95 million of principal amount and $93 million of funding amount (reflecting a 2% original issue discount) of convertible notes.  The Company anticipates using the proceeds from the note to fund the cash consideration of recently announced acquisitions and other growth and expansion initiatives.

The notes will accrue 13% interest per year (9% payable in cash and 4% accreting to the principal amount), have a 5-year term and will be secured by a first lien on the unencumbered assets and a second lien on the encumbered assets of the Company and its subsidiaries.  The note will be convertible into shares of the Company’s common stock at any time at a conversion price  to be set upon issuance equal to 117.5% of the lower of the volume weighted average of the closing prices of the Company’s common stock during (i) five trading days before the date on which the Company entered into a binding commitment to issue the notes, (ii) 30 trading days before the date of issuance of the notes and (iii) five trading days before the date of issuance of the notes.  The Company will have a right to redeem the notes at any time, subject to a prepayment penalty. The Company expects to issue and sell the notes within a week.

The foregoing is not a complete description of all the terms of the notes and the financing and additional information will be made available in an 8-K filing with the Securities and Exchange Commission.

New Mexico
Schwazze is also pleased to announce that it has signed definitive documents to acquire substantially all the operating assets of Reynold Greenleaf & Associates, LLC, and the equity of Elemental Kitchen & Laboratories, LLC. As part of the transaction, the Company will also have a right to purchase or acquire cannabis licenses held by Medzen Services, Inc., (“Medzen”) and R. Greenleaf Organics, Inc. (“RGO”), not-for-profit organizations that hold medical cannabis licenses in New Mexico (the assets and licenses described herein are referenced collectively as “Greenleaf’). Total consideration for the acquisition will be $42 million (subject to potential working capital adjustments) with a potential performance based earnout. The consideration will consist of $25 million in cash payable at closing and $17 million in a 3-year seller note at 5% interest.

Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location.  The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico.  Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022. 

The acquisition is targeted to close within the next quarter, subject to closing conditions and covenants customary for this type of transaction, including, obtaining applicable New Mexico Regulation and Licensing Department (RLD) approvals.  With this acquisition, Schwazze will become a multi-state operator (“MSO”) with a total of 32 announced and acquired dispensaries, seven cultivation facilities and two manufacturing operations located in either Colorado or New Mexico.

We appreciate the strong support from our group of institutional investors that believe in our differentiated strategy and in our ability to execute.  We believe this capital will support Schwazze in meeting its growth target to double pro-forma revenue by the end of Q1 2022. The Company will continue to aggressively pursue expansion and operating plans in Colorado going forward exemplified by the recently announced acquisitions of Emerald Fields and Smoking Gun dispensaries.  Our planned expansion into New Mexico is a logical step in building a strong foundation in a region that will leverage synergies from our operating playbook and talent.  Entering New Mexico will elevate Schwazze into the MSO category but with a differentiated regional focus.  We believe our playbook will have similar success in New Mexico, which is poised for rapid expansion in 2022 and 2023 as the market opens for adult use consumption.  We welcome the Greenleaf team members to Schwazze and are excited about our future together,” stated Justin Dye, CEO & Chairman.

Corporate Update
Since April 2020, Schwazze has announced and/or acquired a total of 32 cannabis dispensaries, including the ten Greenleaf New Mexico dispensaries.  The Company has also announced and/or acquired in 2021 a total of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed by Medzen and RGO in New Mexico.  The Greenleaf acquisition will add a New Mexico manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado. See Figure #1, outlining Schwazze’s existing or pending dispensary assets.

In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

Advisors 
Perella Weinberg Partners LP is serving as financial advisor to Schwazze and The Benchmark Company, LLC is acting as sole placement agent for the offering. Schwazze was represented by Brownstein Hyatt Farber Schreck, LLP on legal matters in connection with the offer and sale of the notes and was represented by Dentons on legal matters relating to the New Mexico transaction.

Figure #1 (CNW Group/Medicine Man Technologies, Inc.)

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in  Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Medicine Man Technologies, Inc.

Schwazze Announces Transformational Capital Raise, Entry Into New Mexico & Provides Business Update



Schwazze Announces Transformational Capital Raise, Entry Into New Mexico & Provides Business Update

Research, News, and Market Data on Schwazze

 

Transformational $95 Million Private Financing for M&A Initiatives & Further Expansion Plans

Signs Definitive Agreement to Acquire & Manage New Mexico Assets: Reynold Greenleaf & Associates, R. Greenleaf Organics, Medzen Services, Elemental Kitchen & Laboratories  

Schwazze Transitions to a Regional Operator with New Mexico Acquisitions

DENVER, Dec. 3, 2021 /CNW/ – Schwazze, (OTCQX:SHWZ) (“Schwazze” or the “Company”), one of the largest vertically integrated cannabis operators in Colorado, has entered into a securities purchase agreement with institutional investors and individuals under which the Company will issue and sell, subject to customary closing conditions, $95 million of principal amount and $93 million of funding amount (reflecting a 2% original issue discount) of convertible notes.  The Company anticipates using the proceeds from the note to fund the cash consideration of recently announced acquisitions and other growth and expansion initiatives.

The notes will accrue 13% interest per year (9% payable in cash and 4% accreting to the principal amount), have a 5-year term and will be secured by a first lien on the unencumbered assets and a second lien on the encumbered assets of the Company and its subsidiaries.  The note will be convertible into shares of the Company’s common stock at any time at a conversion price  to be set upon issuance equal to 117.5% of the lower of the volume weighted average of the closing prices of the Company’s common stock during (i) five trading days before the date on which the Company entered into a binding commitment to issue the notes, (ii) 30 trading days before the date of issuance of the notes and (iii) five trading days before the date of issuance of the notes.  The Company will have a right to redeem the notes at any time, subject to a prepayment penalty. The Company expects to issue and sell the notes within a week.

The foregoing is not a complete description of all the terms of the notes and the financing and additional information will be made available in an 8-K filing with the Securities and Exchange Commission.

New Mexico
Schwazze is also pleased to announce that it has signed definitive documents to acquire substantially all the operating assets of Reynold Greenleaf & Associates, LLC, and the equity of Elemental Kitchen & Laboratories, LLC. As part of the transaction, the Company will also have a right to purchase or acquire cannabis licenses held by Medzen Services, Inc., (“Medzen”) and R. Greenleaf Organics, Inc. (“RGO”), not-for-profit organizations that hold medical cannabis licenses in New Mexico (the assets and licenses described herein are referenced collectively as “Greenleaf’). Total consideration for the acquisition will be $42 million (subject to potential working capital adjustments) with a potential performance based earnout. The consideration will consist of $25 million in cash payable at closing and $17 million in a 3-year seller note at 5% interest.

Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location.  The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico.  Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022. 

The acquisition is targeted to close within the next quarter, subject to closing conditions and covenants customary for this type of transaction, including, obtaining applicable New Mexico Regulation and Licensing Department (RLD) approvals.  With this acquisition, Schwazze will become a multi-state operator (“MSO”) with a total of 32 announced and acquired dispensaries, seven cultivation facilities and two manufacturing operations located in either Colorado or New Mexico.

We appreciate the strong support from our group of institutional investors that believe in our differentiated strategy and in our ability to execute.  We believe this capital will support Schwazze in meeting its growth target to double pro-forma revenue by the end of Q1 2022. The Company will continue to aggressively pursue expansion and operating plans in Colorado going forward exemplified by the recently announced acquisitions of Emerald Fields and Smoking Gun dispensaries.  Our planned expansion into New Mexico is a logical step in building a strong foundation in a region that will leverage synergies from our operating playbook and talent.  Entering New Mexico will elevate Schwazze into the MSO category but with a differentiated regional focus.  We believe our playbook will have similar success in New Mexico, which is poised for rapid expansion in 2022 and 2023 as the market opens for adult use consumption.  We welcome the Greenleaf team members to Schwazze and are excited about our future together,” stated Justin Dye, CEO & Chairman.

Corporate Update
Since April 2020, Schwazze has announced and/or acquired a total of 32 cannabis dispensaries, including the ten Greenleaf New Mexico dispensaries.  The Company has also announced and/or acquired in 2021 a total of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed by Medzen and RGO in New Mexico.  The Greenleaf acquisition will add a New Mexico manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado. See Figure #1, outlining Schwazze’s existing or pending dispensary assets.

In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

Advisors 
Perella Weinberg Partners LP is serving as financial advisor to Schwazze and The Benchmark Company, LLC is acting as sole placement agent for the offering. Schwazze was represented by Brownstein Hyatt Farber Schreck, LLP on legal matters in connection with the offer and sale of the notes and was represented by Dentons on legal matters relating to the New Mexico transaction.

Figure #1 (CNW Group/Medicine Man Technologies, Inc.)

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in  Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Medicine Man Technologies, Inc.

Esports Entertainment Group Announces Preferred Stock Dividend

 


Esports Entertainment Group Announces Preferred Stock Dividend

Research, News, and Market Data on eSports Entertainment Group

 

Hoboken, New Jersey–(Newsfile Corp. – December 3, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) is pleased to announce that the holders of record of the Company’s 10.0% Series A Cumulative Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”) as of the close of business on December 15, 2021 will receive a cash dividend equal to $0.12 per Series A Preferred Stock share. The cash dividend will be paid on December 31, 2021.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Kandi Technologies Group (KNDI) – A Sweet Way To Invest in the EV Market

Thursday, December 02, 2021

Kandi Technologies Group, Inc. (KNDI)
A Sweet Way To Invest in the EV Market

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd.) and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    High expected sales growth due to growing acceptance of electric transportation. Increased environmental consciousness and a developing infrastructure of battery charging stations should result in a growing adoption of electric-powered cars, ATVs and bikes. We believe Kandi serves a unique niche in the market providing low-cost vehicles for short distance usage and other electric transportation devices. We look for growth at or above national electric car sales growth projections of 30% CAGR over the next ten years.

    Diverse business lines protect against technological or consumer preference changes.  Kandi has five business lines involved in Electric Vehicles, EV Parts, Off-road vehicles & ATVs, Scooters and Bikes, and Battery Swap Technology. A diverse line of businesses protects against decreased profitability in any one line that could arise from technological or consumer preference changes …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

C-Suite Interview with ACCO Brands (ACCO) Chairman & CEO Boris Elisman


Noble Capital Markets Senior Research Analyst Joe Gomes interviews ACCO Brands Chairman & CEO Boris Elisman.

Research, News, and Advanced Market Data on ACCO


View all C-Suite Interviews

About ACCO Brands Corporation

ACCO Brands Corporation (NYSE: ACCO) is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include Artline®, AT-A-GLANCE®, Barrilito®, Derwent®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, Wilson Jones® and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

FAT Brands Inc. (FAT) – Another Order of Chicken Wings

Monday, November 29, 2021

FAT Brands Inc. (FAT)
Another Order of Chicken Wings

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Another Acquisition. FAT Brands announced an agreement to acquire Native Grill & Wings, an Arizona-based restaurant chain known for its cult-like following and 20 wing flavors that guests can order by the individual wing, for $20 million. The acquisition will be funded with cash from the issuance of new notes from the Company’s securitization facilities and is expected to close in mid-December 2021. The business is expected to increase the Company’s post-COVID normalized EBITDA by approximately $3 million in 2022.

    Native Grill & Wings.  Based in Chandler, Arizona, Native Grill & Wings is a family-friendly, polished sports grill with 23 franchised locations throughout Arizona, Illinois, and Texas. Native Grill will complement Fat Brands’ existing wing concepts, Buffalo’s and Hurricanes, in our view …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Engine Media (GAME)(GAME:CA) – The Engine That Could

Wednesday, November 24, 2021

Engine Media (GAME)(GAME:CA)
The Engine That Could

Engine Media Holdings Inc is engaged in esports data provision, esports tournament hosting, and esports racing. Its brand profile includes Eden Games, Allin sports, and UMG, and others. The company’s operating segments include E-Sports; Media and Advertising and Corporate and Other. It generates maximum revenue from the Media and Advertising segment. The Media and Advertising segment includes platform and advertising services provided to other broadcasters, primarily local tv and radio broadcasters.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    A solid Q4. Total company revenues of $11.7 million, (up 67% yoy) was better than our $10.8 million estimate, reflecting better than expected Advertising revenue, which beat our estimate by roughly 16%. The EBITDA loss was better than expected as well, $4.3 million loss versus our loss estimate of $5.2 million.

    Significant sequential revenue growth.  The company appears to have favorable revenue trajectory, with 22% sequential revenue growth from Q3. Advertising, which was the largest upside variance in the quarter, reflected a 37% sequential improvement from Q3, with CPMs up a strong 36% …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Motorsport Games – Nascar Heat Ultimate Edition Officially Launches On Nintendo Switch


Nascar Heat Ultimate Edition+ Officially Launches On Nintendo Switch

 

MOTORSPORT GAMES DEVELOPED NASCAR GAME IS THE FIRST TO COME TO THE CONSOLE, AVAILABLE TO PLAY STARTING TODAY, NOVEMBER 19, 2021

MIAMI, Nov. 19, 2021 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announces today the official launch of NASCAR Heat Ultimate Edition+ on Nintendo Switch, available to play today. The game is the first ever NASCAR title to come to Nintendo Switch consoles. A look at the accompanying launch trailer can be found here.

NASCAR Heat Ultimate Edition+ brings to life the 2020 NASCAR season of the world’s most popular stock car racing series for the very first time on Nintendo Switch. NASCAR Heat Ultimate Edition+ on Nintendo Switch includes everything found in the NASCAR Heat 5 Ultimate Edition, plus the 2021 NASCAR Cup Series cars, roster and primary paint schemes. The previous 2020 official teams, drivers, cars and schedule from the three NASCAR national series and Xtreme Dirt Tour races, featuring 39 authentic tracks, remain in the game as well. Further featured content includes 2020 Throwback and Playoff paint schemes, Tony Stewart as a playable character and more.

“Bringing one of our titles to Nintendo Switch has been something Motorsport Games has wished to do for many years and we couldn’t be happier that we are now able to bring the joy of racing to even more players,” said Dmitry Kozko, CEO of Motorsport Games. “NASCAR fans can now race either on the go or in the comfort of their own homes with the flexibility the Nintendo Switch offers. NASCAR Heat Ultimate Edition+ brings Motorsport Games’ signature authenticity of racing to a brand new console and we can’t wait for everyone to get some laps in on their Nintendo Switch consoles.”

“Bringing NASCAR Heat Ultimate Edition+ to Nintendo Switch was the natural next step for this game,” said Nick Rend, Managing Director of Gaming and Esports, NASCAR. “As the first NASCAR title for Nintendo Switch, we’re able to introduce the sport to a new community of players while giving current fans another way to embrace NASCAR racing they love.”

NASCAR Heat Ultimate Edition+ for Nintendo Switch comes with a complete bevy of features and modes, including Career Mode, gameplay enhancements to AI, added camera options, ability for DNFs, Testing Mode and Online Challenge Mode. Nintendo Switch users can look forward to racing on 39 official, authentic race tracks across the various series, including Daytona International Speedway, Indianapolis Motor Speedway, Indianapolis Motor Speedway Road Course and Talladega Superspeedway, plus nine dirt tracks. Online Racing accommodates up to 16 players and users can also enjoy local split-screen multiplayer. Lastly, the Paint Booth is included, with number fonts and schemes to choose from when customizing your car.

To find out more information and to purchase NASCAR Heat Ultimate Edition+ for Nintendo Switch, please visit www.NASCARHeat.com.

To keep up with the latest Motorsport Game news visit www.motorsportgames.com and follow on TwitterInstagramFacebook and LinkedIn.

About Motorsport Games:
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. For more information about Motorsport Games, visit www.motorsportgames.com.

Forward-Looking Statements:
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the expected future impact of new or planned products, features, offerings or events, and the timing of launching such products, features, offerings or events. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, which may be found at www.sec.gov and at ir.motorsportgames.com, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q filed with the SEC during 2021, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure:
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on these websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites Social Media
motorsportgames.com Twitter: @msportgames & @traxiongg
traxion.gg Instagram: msportgames & traxiongg
motorsport.com Facebook: Motorsport Games & traxiongg
  LinkedIn: Motorsport Games
  Twitch: traxiongg
  Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com

Press:
ASTRSK PR
motorsportgames@astrskpr.com

Motorsport Games – Nascar Heat Ultimate Edition+ Officially Launches On Nintendo Switch


Nascar Heat Ultimate Edition+ Officially Launches On Nintendo Switch

 

MOTORSPORT GAMES DEVELOPED NASCAR GAME IS THE FIRST TO COME TO THE CONSOLE, AVAILABLE TO PLAY STARTING TODAY, NOVEMBER 19, 2021

MIAMI, Nov. 19, 2021 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announces today the official launch of NASCAR Heat Ultimate Edition+ on Nintendo Switch, available to play today. The game is the first ever NASCAR title to come to Nintendo Switch consoles. A look at the accompanying launch trailer can be found here.

NASCAR Heat Ultimate Edition+ brings to life the 2020 NASCAR season of the world’s most popular stock car racing series for the very first time on Nintendo Switch. NASCAR Heat Ultimate Edition+ on Nintendo Switch includes everything found in the NASCAR Heat 5 Ultimate Edition, plus the 2021 NASCAR Cup Series cars, roster and primary paint schemes. The previous 2020 official teams, drivers, cars and schedule from the three NASCAR national series and Xtreme Dirt Tour races, featuring 39 authentic tracks, remain in the game as well. Further featured content includes 2020 Throwback and Playoff paint schemes, Tony Stewart as a playable character and more.

“Bringing one of our titles to Nintendo Switch has been something Motorsport Games has wished to do for many years and we couldn’t be happier that we are now able to bring the joy of racing to even more players,” said Dmitry Kozko, CEO of Motorsport Games. “NASCAR fans can now race either on the go or in the comfort of their own homes with the flexibility the Nintendo Switch offers. NASCAR Heat Ultimate Edition+ brings Motorsport Games’ signature authenticity of racing to a brand new console and we can’t wait for everyone to get some laps in on their Nintendo Switch consoles.”

“Bringing NASCAR Heat Ultimate Edition+ to Nintendo Switch was the natural next step for this game,” said Nick Rend, Managing Director of Gaming and Esports, NASCAR. “As the first NASCAR title for Nintendo Switch, we’re able to introduce the sport to a new community of players while giving current fans another way to embrace NASCAR racing they love.”

NASCAR Heat Ultimate Edition+ for Nintendo Switch comes with a complete bevy of features and modes, including Career Mode, gameplay enhancements to AI, added camera options, ability for DNFs, Testing Mode and Online Challenge Mode. Nintendo Switch users can look forward to racing on 39 official, authentic race tracks across the various series, including Daytona International Speedway, Indianapolis Motor Speedway, Indianapolis Motor Speedway Road Course and Talladega Superspeedway, plus nine dirt tracks. Online Racing accommodates up to 16 players and users can also enjoy local split-screen multiplayer. Lastly, the Paint Booth is included, with number fonts and schemes to choose from when customizing your car.

To find out more information and to purchase NASCAR Heat Ultimate Edition+ for Nintendo Switch, please visit www.NASCARHeat.com.

To keep up with the latest Motorsport Game news visit www.motorsportgames.com and follow on TwitterInstagramFacebook and LinkedIn.

About Motorsport Games:
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. For more information about Motorsport Games, visit www.motorsportgames.com.

Forward-Looking Statements:
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the expected future impact of new or planned products, features, offerings or events, and the timing of launching such products, features, offerings or events. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, which may be found at www.sec.gov and at ir.motorsportgames.com, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q filed with the SEC during 2021, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure:
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on these websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites Social Media
motorsportgames.com Twitter: @msportgames & @traxiongg
traxion.gg Instagram: msportgames & traxiongg
motorsport.com Facebook: Motorsport Games & traxiongg
  LinkedIn: Motorsport Games
  Twitch: traxiongg
  Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com

Press:
ASTRSK PR
motorsportgames@astrskpr.com

What Percentage of U.S. Retail Sales is Ecommerce?

 


Ecommerce’s Dramatic Growth in 2020 Leaves Great Potential for Online Retailers

 

Online sales growth has increased each year as retailers enhance their online presence and shoppers become more comfortable making purchases over the internet. A little over a decade ago, ecommerce was a scant 5.1% of total sales. Online shopping in 2020 accounted for 21%. This was a full 5% increase from 2019 when online retailers took a 16% slice of the pie. The 2021 holiday shopping season started early and retail sales on and offline are strong.

 

Non-Seasonably adjusted ecommerce data from the Commerce Department analyzed by Digital Commerce 360

 

Growth of Retail Sales and the Percentage Attributed to Ecommerce

The dramatic shift to consumers shopping from home last year certainly caused a spike in online sales and revenues. During 2020 U.S. households spent $861.02 billion online; this is a 44% spike when compared to 2019 and the highest percentage increase this millennium. Total retail sales, including merchandise purchased in stores and phone orders, increased 6.9% over the year to $4.04 trillion. These numbers come from an early analysis of the retail picture by Digital Commerce 360. Retail sales overall experienced the highest growth since 2005. This means online retail purchases now account for 21.3% of a higher dollar retail sales figure.

Of the increase in sales, more than two-thirds, 64.2%, were online. They accounted for 61.4% of the slower growth in 2019. Interestingly, though, the fact that ecommerce didn’t account for all of the gains means that offline sales grew a noteworthy 3.9% during Q4.

Retailers who were firmly established online, depending on their product, were already winners with the ongoing trend toward online sales. They were even bigger winners as a result of the forced shift of many shoppers to online purchasing.  And the move toward online purchases is expected to continue. In an interview earlier this year, Chris McCann, CEO from online retailer 1-800-Flowers (FLWS), said, “Coming off a record end-of-year holiday season, we see a continuation of the accelerated momentum that began for us back in 2018, but picked up even more during the pandemic.” The momentum that built last year may come off a bit, but the trend is firmly in place. This has caused traditional bricks-and-mortar retailers such as Macy’s and Target to bolster their online presence, but also other brands to capitalize on their name through online marketing. Macy’s just announced they are exploring a separate online business, separate and distinct from their bricks-and-mortar operation. Saks Fifth Ave. has already taken steps to split its operations in this way.

 

 

Online Retailing Highlights Year-End 2020

  • Ecommerce sales hit $791.70 billion in 2020, up 32.4% from $598.02 billion in the prior year.
  • Based on Digital Commerce 360 estimates, online penetration hit 19.6% in 2020. This is compared to 15.8% in 2019 and 14.3% in 2018. Using that trend, without the pandemic’s change of shopping habits, the ecommerce portion of retail sales wouldn’t have reached that level until 2022.
  • COVID-19 resulted in an additional $105.47 billion in ecommerce revenue in 2020, Digital Commerce 360 estimates.
  • Total retail sales reached $4.04 trillion last year, up from $3.78 trillion in 2019. The 6.9% lift was the highest annual growth since 1999. Sales through brick and mortar and online increased just 4.0% in 2019.
  • Ecommerce accounted for almost three-quarters (74.6%) of the growth in total retail in 2020. It was also about 11% higher than the second place year, which was 2008.
  • Offline sales grew 2.1%, which was the same rate as the pandemic-free prior year.

Take-Away

Overall retail sales grew in 2020. Within that growth, the percentage of online sales grew faster than it had since 1999. The retail sector includes Amazon, which accounted for half of last year’s growth. Away from Amazon, the trend for companies that derive revenue from online sales has plenty of upsides.

Suggested Content:

Playboy Enterprises NobleCon Presentation Replay

1-800-FLOWERS, At Some Point This Will Happen

Workcations Add a New Class of Traveler


Sources:

The Business of Valentine’s Day

Quarterly Online Sales, Digital Commerce 360

 


Virtual Road Show Series – Thursday, November 18 at 1pm EST

Join Entravision Communications CFO Christopher Young for this exclusive fireside chat moderated by Michael Kupinski, Noble’s senior research analyst, featuring questions taken from the live audience. Registration is free and open to all investors, at any level.

Register Now  |  View All Upcoming Road Shows

 

Stay up to date. Follow us: