MNP Corporate Finance Inc. just recently announced a new phase of its partnership with Beedie Capital. The agreement for financial audit services allowed the corporation to start financing Enthusiast Gaming Holdings Inc. Such cooperation has a lot of advantages for all participants of the contract.
Brief description of the deal
Enthusiast Gaming Holdings Inc., one of the largest gaming companies active in the media sphere, got a four-year loan, allowing TSX: EGLX to launch several significant projects. The loan agreement was made with several partners, but the primary loan was provided by investors from Beedie Investments Ltd.
Enthusiast Gaming has been in a precarious financial position for the past few years. Experts even predicted its bankruptcy if its owners could not solve its problems.
The situation is exacerbated by pressure from the iGaming industry, especially now that you can play or bet directly from your phones. Online betting has become so popular that it has influenced the growth of many sports disciplines. An example would be cricket. Traditional for some countries, the sport is rapidly conquering new regions. This trend is well demonstrated by the top-ranked sports-related website, Iplbetting. If you look here, you can see the presence of bets on cricket at many popular bookmakers in the United States. All this helps the gambling industry to dominate the entertainment market.
How the money will be spent
The investment received allowed for additional liquidity, which allowed the company to continue investing in large gaming projects.
Representatives of Enthusiast Gaming are quite flattering about their partners and appreciate their contribution to the company’s development. Thanks to the new stage of development, the firm will have the opportunity to finish the projects it has started and launch new ones.
What does Beedie Capital do?
It is just a subsidiary company of Beedie. It deals with direct investments and provides loans to various corporations. Currently, it is considered one of the largest private companies in Canada. Separately, it should be noted that Beedie Capital has a non-standard approach to cooperation. Partners are provided with various contracts based on an alternative approach to the timing and size of investments. Thanks to this simplicity, the company helps other businesses and earns good profits from lending.