Luminosity Gaming Sold to Vertiqal Studios; Ex-CEO Adrian Montgomery’s Bid Passed Over

Enthusiast Gaming has officially exited the esports sector through the divestment of Luminosity Gaming and its associated direct-sales operations. On September 2, 2025, Vertiqal Studios finalized the acquisition of these assets, which include Omnia Media, GameCo Esports Canada, and relevant intellectual property. The transaction was valued at approximately C$900,000 (roughly $653,000 USD) in cash, with Vertiqal Studios also assuming existing and ongoing liabilities estimated at $2.6 million.

This divestment follows a failed attempt by former Enthusiast Gaming CEO Adrian Montgomery to acquire the assets via a proposed $1 million vendor loan. The final agreement with Vertiqal Studios resulted in significant organizational changes, including the departure of long-time Luminosity Gaming head Alex Gonzalez and a series of layoffs across the esports division.

The sale is part of a broader strategic pivot for Enthusiast Gaming, which reported a net loss of C$39.8 million in the second quarter of 2025, compared to a C$2.9 million loss in the same period of 2024. Management identified the esports and direct-sales business lines as primary drivers of this financial downturn. Moving forward, the company intends to focus its resources on its consumer-facing digital platforms, such as U.GG and Icy-Veins, which it characterizes as profitable and better positioned for long-term growth.