Simplicity Esports and Gaming Company announced that it acquired all assets of PL Gaming Texas LLC, “one of the most successful franchisee-owned esports gaming centres in its nationwide footprint.”
Per a release, the acquisition was a combination of cash and restricted shares of common stock. In addition, Simplicity Esports executed a lease assignment and amendment that does not require a fixed rent. Instead, rent is determined from a percentage of gross sales.
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Roman Franklin, President of Simplicity Esports, spoke on the transaction in a release: “Our franchisee has done an excellent job building, staffing, and growing this location.