Enthusiast (EGLX) and Engine: 2 Canadian game stocks for growth play

2 min read | March 30, 2022 03:03 AM AEDT | By Kajal Jain

Enthusiast (EGLX) and Engine: 2 Canadian game stocks for growth play — Image source: © 2022 Kalkine Media®

Enthusiast Gaming Holding Inc (TSX:EGLX)

The Toronto-based online gaming company released its last quarter and annual results for FY2021 in after-market hours on Monday.

Enthusiast Gaming reported a year-over-year (YoY) surge of 34 per cent in its revenue to C$ 56.9 million in the latest quarter, recording a yearly revenue of C$ 167.4 million.

The EGLX stock increased by almost nine per cent last one week and closed at C$ 3.85 apiece on Monday.

Enthusiast Gaming <a class='font-weight-bold' style='border-bottom: 2px dashed;' aria-label='https://kalkinemedia.com/ca/companies/tsx-eglx' href='https://kalkinemedia.com/ca/companies/tsx-eglx'>(TSX:EGLX)</a>’s Q4 FY2021 results

Also read: Is Dominion Lending (DLCG) a new TSX financial stock to buy?

Engine Gaming and Media Inc (TSXV:GAME)

Engine Gaming increased its Q1 total revenue by 92 per cent YoY to US$ 14.3 million in FY2022.

The Game stock closed at C$ 2.40 apiece, up by over one per cent on Monday, nearly 13 per cent up from its 52-week high of C$ 2.13 apiece (March 21).

Bottomline

The online gaming industry worldwide is expected to expand with new advancements and technological innovation. Investors interested in Canadian gaming stocks can choose to explore Enthusiast Gaming and Engine Gaming as these could likely see increased subscribers base and business in the future.

Also read: Is Bombardier (TSX: BBD.B) stock a buy as it seeks share consolidation?

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