Publicly Traded Esports Teams in 2025: Who’s Worth the Most?

• Esports has grown globally, with a few top organizations now publicly traded companies.

• GameSquare Holdings leads with a $29.28M market cap, owning Complexity Gaming and backing teams across major titles.

• Revenue comes from tournaments, brand deals, and collegiate esports programs under the Complexity brand.

The esports industry has evolved into a global phenomenon, with competitive gaming events drawing millions of viewers worldwide. While many esports organizations remain privately owned, a select few have gone public. Here are the five biggest esports organizations ranked by market capitalization.

GameSquare Holdings, a Canadian company, owns Complexity Gaming and has a market capitalization of $29.28 million. Complexity fields teams in Counter-Strike, Apex Legends and Halo, with its Counter-Strike roster earning top finishes in ESL Pro League events.

GameSquare also holds a minority stake in Movistar R7, a Mexican team competing in League of Legends and Valorant. The organization generates revenue from tournament winnings and sponsorships with brands like AT&T. It also supports grassroots competitions through Complexity's collegiate esports tournaments.

OverActive Media, a Canadian company listed on the TSX Venture Exchange under the ticker OAM, has a market capitalization of $21 million. The company went public in 2021 via a merger with Abigail Capital Corporation. Its flagship team, Toronto Ultra, competes in the Call of Duty League, while MAD Lions participates in Europe's League of Legends LEC.

The company generates an estimated $15 million to $20 million annually from tournament winnings, sponsorships from brands like Bell and Red Bull, and media rights deals with platforms like Twitch, according to its fiscal 2024 report.

Enthusiast Gaming, listed on the Toronto Stock Exchange under the ticker EGLX, has a market capitalization of $6.1 million. Its esports division includes Luminosity Gaming, which fields teams in Fortnite, Call of Duty, and Apex Legends. Enthusiast also co-owns Vancouver Surge in the Call of Duty League, which won a 2022 Major and maintains a loyal Pacific Northwest fan base.

Luminosity operates a network of content creators who generate revenue from Twitch, YouTube, and other platforms. The company generates $2.5 million annually from esports and media through sponsorships with brands like Gillette, tournament prizes, and digital media platforms.

Danish organization Astralis was the first Counter-Strike esports company to go public via an initial public offering on the Copenhagen Stock Exchange in 2019. It has a market capitalization of $6 million. The Astralis Counter-Strike roster remains one of the top teams in the game, consistently performing in the ESL Pro League and securing sponsorships from brands like Intel and Logitech.

Astralis also fields a team in Europe's League of Legends LEC, which has reached playoffs multiple times. The organization's fan engagement services, including exclusive merchandise and in-game skins, contributed about $15 million in revenue in 2023.

ESE Entertainment, a Canadian company, owns K1CK Esports, a European organization with more than 500 tournament wins since 1998. The company has a market capitalization of $3 million. K1CK competes in Counter-Strike, League of Legends, FIFA and Apex Legends.

K1CK's Counter-Strike team has secured regional titles, while its FIFA players rank among Europe's best. ESE's focus on hosting gaming leagues and events, combined with K1CK's competitive success, drives about $10 million in annual revenue, according to its fiscal 2024 financial reports. Sponsorships from tech brands and merchandise sales also contribute to ESE Entertainment's annual revenue.