Written by Dante Uzel on 01 April 2025 15:00
GameSquare Holdings, Inc. announced several business developments and plans to host its Q4 2024 earnings conference call on April 16, 2025, at 5:00 pm ET. The delay in reporting the Q4 earnings is due to the closing of the FaZe Media divestiture, effective April 1, 2025.
"2024 was a transformative year for GameSquare highlighted by the completion of the FaZe Clan acquisition, investments to our team and global capabilities, and the next-generation media platform we have created to drive cross selling opportunities and grow our market share," said Justin Kenna, CEO of GameSquare. "As we look to 2025, today's announcements are important catalysts to optimize our business model and reach profitability in the coming quarters."
Additionally, GameSquare is launching a collegiate esports initiative to foster community and engagement on university campuses. This includes competitive tournament play, a proprietary software platform to support team operations and fan interaction, and the use of GameSquare's IP to drive awareness and differentiation.
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"We are excited to accelerate the growth of our experiences business," continued Mr. Kenna. "Over the past several quarters, we have seen growing demand to combine in-game experiences with IRL events - developing strong engagement between brands, game publishers, and fans. We look forward to bringing some of the world's largest gaming events to fans."
The last contribution of $10 million for 25.5% of FaZe Media values the company at $39.2 million. Starting April 1, 2025, FaZe Media will no longer be consolidated in GameSquare’s financial statements.
Mr. Kenna commented, "Divesting FaZe Media is a win-win for GameSquare, FaZe Media and its founders. As we stated when we acquired FaZe Clan, for FaZe to be successful it needed to return to its roots with its founders at the helm to lead the brand and reestablish its authenticity. I am proud of what we have accomplished by rebooting the brand, reducing operating costs, and positioning FaZe Media for success as a standalone, creator-led business. I am also excited to retain 100% ownership of FaZe Esports, which has established itself as one of the world's most elite and highest winning esports organizations."
Tags: GameSquare FaZe Clan
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