09:19 AM EDT, 04/01/2024 (MT Newswires) -- Enthusiast Gaming Holdings Inc. ( EGLXF ) , a gaming and media company, which saw its shares jump 17% from near 52-week lows last Thursday, said Monday that it has agreed to sell certain non-core and non-profitable casual gaming assets for about C$4.1 million.

A statement noted the assets comprise a subset of Enthusiast Gaming's ( EGLXF ) casual gaming business. The company said the sale is a "continuation of several recent strategic actions intended to enhance the company's operational efficiency while emphasizing high-margin revenue growth and sustainable profitability".

Other recent actions include a C$10 million cost reduction program, and a multi-year partnership with Playwire to improve programmatic yield and unlock additional revenue streams.

The agreement is expected to close in 10 business days. The assets included in the sale are Shockwave, LittleBigSnake, MathGames.com, and TypeRacer.com.