The esports organization ENCE manages to hold its own amid the financial crisis

Currently, the global financial crisis has affected many esports organizations. As a result, some of these organizations struggle to... Maria | 29. May 2023

Currently, the global financial crisis has affected many esports organizations. As a result, some of these organizations struggle to raise funds to keep their operations running; others have excellent revenues.

One of the esports organizations currently financially stable is ENCE; the organization has reported seven-figure profits over the past year.

ENCE keeps earning millions of dollars

As we have already mentioned, many esports organizations are currently experiencing severe financial crises. However, the case of ENCE is different; it is one of the organizations that has pulled through and continues to report profits in millions of dollars.

According to the financial reports of the Finnish esport organization, ENCE, from January to December last year, it managed to earn € 1,114,966. On the other hand, the financial reports reported that the organization had a total income of € 4,071,279.

The notoriety of ENCE’s international Counter-Strike team seems to be the main factor in the organization’s success.

According to statements made by CEO Mika Kuusisto to Finnish media outlet Ilta Sanomat, the diverse CS:GO player roster has achieved CS:GO Wizard status on several occasions. Thanks to this, the organization’s owners receive big money earnings.

On the other hand, the Lourve Agreement allows the organization to have a significant cash flow. In addition, it ensures the team’s place in different tournaments organized by ESL and can compete for large cash prizes.

According to past financial reports, it can be seen that the year 2022 meant the biggest turnover year for ENCE. On the other hand, the year 2019 was the second-highest turnover year for the organization.

In addition, the organization’s management has demonstrated that its economic strategies are very solid. As a result, ENCE successfully overcame the Covid-19 pandemic era without registering losses. On the other hand, the organization also has an excellent CS:GO staff that has never let ENCE down.

Michal Konkol D1 BLAST PARIS MAJOR 335

Credits: Michal Konkol | BLAST

Excellent results from ENCE’s CS:GO team

The squad, which Snappi leads, has managed to compete in the most renowned tournaments in the CS:GO competitive scene since the Stockholm PGL held in 2021. The team achieved its biggest victory at the PGL Major Antwerp 2022. The team took third place on that occasion and unveiled virtually unknown players.

The financial crisis in esports

The financial crisis has knocked on the door of many organizations; for example, Heroic, one of the most prominent CS:GO organizations, had to fundraise among its partners to stay operational. On the other hand, other organizations have declared bankruptcy or reported millions of dollars in losses.

However, despite the industry’s difficulties, ENCE is holding up very well financially, which shows that the esports industry can continue to succeed.

Header: ENCE