Esports company 'Super League Gaming' makes Nasdaq debut

'Super League Gaming', who puts on amateur tournaments for games such as 'Fortnite' and 'League of Legends', began trading on the Nasdaq on Tuesday, making it the first esports company to be listed on Wall Street.

The company’s CEO, Ann Hand, told Fox Business’ Stuart Varney on Thursday that going public is not always about cashing in.

“It’s about being the first esports play in the public markets,” she said.  “People want to participate in esports and it’s a great opportunity for us -- we’re excited.”

Hand also added that the changing demographics of esports are also a factor because gaming is no longer for a niche or fringe audience.

“Today, 50 percent of power gamers are married, 30 percent are female,” Hand said. “Gamers have higher average household incomes and higher graduation rates than traditional sports fans.  It’s multi-generational.  It’s really a slice of your entertainment.”

According to 'Super League Gaming’s' filing with the SEC, it reported losses of $14.9 million last year and $12.3 million in 2017.

The company was founded in 2014.