GameSquare Completes FanEngine IP Asset Transaction
GameSquare completed its FanEngine transaction, adding rights connected to Peaky Blinders, Simon's Cat and 15 global athletes while reiterating its 2027 financial guidance.
GameSquare Holdings, Inc. (NASDAQ:GAME) has completed its acquisition of sports, music and entertainment intellectual property assets from FanEngine Holdings Ltd. The closing followed approval from GameSquare stockholders at a special meeting held on October 22, 2026.
The transaction adds rights and commercial relationships linked to Peaky Blinders, Simon's Cat and 15 global athletes, including The Two Robbies & Friends and Ben Stokes. GameSquare also expects Peaky Blinders to launch in the fourth quarter of 2026.
GameSquare said the acquired assets will sit alongside its existing data, creator, agency and media operations. The company expects the combination to allow it to manage and monetise fan relationships connected to owned intellectual property, rather than providing audience services only on behalf of other parties.
FanEngine's activities include content, community, gaming, ticketing, merchandise, digital ownership, rewards and commerce. The transaction is also intended to add recurring, direct-to-fan revenue streams such as licensing, brand partnerships and live and in-real-life experiences alongside GameSquare's existing services revenue.
GameSquare reiterated its 2027 guidance of revenue over $150 million, gross margin above 50% and adjusted EBITDA of more than $30 million. The company said FanEngine is expected to require limited incremental overhead and operating expenses, while GameSquare plans to use its existing infrastructure for production, events, commerce and gamification functions.
GameSquare expects FanEngine to contribute to its 2026 proforma outlook of $85+ million in revenue and $5+ million in adjusted EBITDA. The company also expects the acquired operations to contribute to fourth quarter 2026 results and to be immediately accretive to adjusted EBITDA.
GameSquare's adjusted EBITDA guidance excludes transaction costs, impairments and other one-time expenses. The company did not provide a reconciliation of forward-looking adjusted EBITDA to GAAP net income or loss, stating that certain deductions are difficult to forecast and quantify. It said those deductions may be material and could cause projected GAAP net income or loss to be materially less than projected adjusted EBITDA.
Justin Kenna, GameSquare's chief executive officer, said the company's immediate focus is integrating the acquisition and pursuing commercial opportunities involving its owned intellectual property assets.
GameSquare identified several risks affecting the transaction and its outlook. These include the company's ability to continue as a going concern, whether financial milestones are achieved, dilution from equity issued in the transaction, the integration process, future financing and the ability to use its portfolio across entertainment and media platforms.
The company also cited dependence on key personnel, along with broader business, economic, competitive, political and social uncertainties. GameSquare said forward-looking statements are based on management's current expectations and assumptions, and that actual results could differ materially.
GameSquare announced that it had completed the acquisition of sports, music and entertainment intellectual property assets from FanEngine Holdings Ltd. The Transaction was completed as contemplated by the previously announced contribution agreement.
GameSquare said the Transaction was completed on October 26, 2026. The closing followed approval by GameSquare stockholders at a special meeting held on October 22, 2026.
GameSquare acquired sports, music and entertainment IP assets, including rights and relationships tied to Peaky Blinders, Simon's Cat and 15 global athletes, including The Two Robbies & Friends and Ben Stokes. The company also acquired FanEngine's platform for turning audiences into known, first-party fan communities.
GameSquare said the transaction moves it from reaching fans on behalf of others to owning and monetising fan relationships directly. FanEngine's assets will sit alongside GameSquare's data, creator, agency and media businesses.
GameSquare reiterated 2027 guidance of revenue over $150 million, gross margin above 50% and adjusted EBITDA of more than $30 million. The company describes adjusted EBITDA as a non-GAAP measure and says the guidance excludes items such as transaction costs, impairments and other one-time expenses.
GameSquare expects FanEngine to contribute to its 2026 proforma outlook of $85+ million in revenue and $5+ million in adjusted EBITDA. The company also expects FanEngine to contribute immediately to fourth quarter 2026 results and to be immediately accretive to adjusted EBITDA.
GameSquare said FanEngine adds recurring, direct-to-fan revenue streams including rewards, merchandise and commerce, ticketing, live and in-real-life experiences, licensing and brand partnerships. These will sit alongside GameSquare's existing services revenue.
GameSquare said FanEngine is expected to require limited incremental overhead and operating expenses, allowing it to use its existing infrastructure and capabilities. GameSquare also expects to bring production, events, commerce and gamification spending in-house, as FanEngine had relied on third parties for these functions.
Peaky Blinders is expected to launch in the fourth quarter of 2026. The source does not provide further launch details.
GameSquare describes itself as a media, entertainment and technology company connecting brands and publishers with Gen Z, Gen Alpha and Millennial audiences. Its platform spans creative services, analytics and FaZe Esports, while its businesses provide access to creators and talent across gaming, esports and youth culture.
FanEngine is described as a technology, media and fan-economy asset aggregator that helps IP owners across sports, music and entertainment build direct audience relationships and recurring revenue streams. Its products and services span content, community, gaming, ticketing, merchandise, digital ownership, rewards and commerce, using fan identity, behavioural intelligence, AI, gaming and blockchain infrastructure.
The announcement identifies GameSquare Holdings, Inc. as trading on NASDAQ under the ticker symbol NASDAQ:GAME, and later refers to its listing as Nasdaq:GAME.
GameSquare said it does not provide a reconciliation of forward-looking adjusted EBITDA to GAAP net income or loss because certain deductions are difficult to forecast and quantify. It said those deductions may be material and could result in projected GAAP net income or loss being materially less than projected adjusted EBITDA.
GameSquare identifies risks including its ability to continue as a going concern, whether financial milestones are achieved, dilution from equity issued in the transaction, integration of the Transaction, future financing and the ability to leverage its portfolio across entertainment and media platforms. It also cites dependence on key personnel and general business, economic, competitive, political and social uncertainties.
GameSquare Chief Executive Officer Justin Kenna said the company's focus is integrating the acquisition and executing new commercial opportunities for its owned IP assets. The release does not provide a further dated milestone beyond the expected Peaky Blinders launch in the fourth quarter of 2026.