<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2025-11-14</periodOfReport>

    <dateOfOriginalSubmission>2025-07-15</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001714562</issuerCik>
        <issuerName>GameSquare Holdings, Inc.</issuerName>
        <issuerTradingSymbol>GAME</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002007832</rptOwnerCik>
            <rptOwnerName>Munoz Michael Patrick</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GAMESQUARE HOLDINGS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>6775 COWBOYS WAY, STE. 1335</rptOwnerStreet2>
            <rptOwnerCity>FRISCO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75034</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F1"/>
                <footnoteId id="F4"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-07-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>129128</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>129128</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>129128</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The grant was made pursuant to the Issuer's Amended and Restated Omnibus Equity Incentive Plan (&quot;Omnibus Plan&quot;).</footnote>
        <footnote id="F2">Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.</footnote>
        <footnote id="F3">On July 11, 2025 (the &quot;Grant Date&quot;), the Reporting Person was granted 464,863 restricted stock units (&quot;RSUs&quot;), each representing a contingent right to receive one share of the Issuer's common stock. The grant were made as part of the Issuer's long-term incentive program and vests as follows: 25% on the Grant Date, 37.5% on the first anniversary of the Grant Date, and 37.5% on the second anniversary of the Grant Date.</footnote>
        <footnote id="F4">On July 15, 2025, the Reporting Person filed the initial Form 4 (the &quot;Original Form 4&quot;) to report the grant, on July 11, 2025, to the Reporting Person of (i) the RSUs described in footnote 3 above, and (ii) options to purchase an aggregate of 1,045,712 shares of the Issuer's common stock (the &quot;Options&quot;). Subsequent to the approval of the Options by the Issuer's Board of Directors (the &quot;Board&quot;), on November 14, 2025, the Board determined that Options could not be validly granted under the Omnibus Plan because the number of shares then authorized for issuance under the Issuer's certificate of incorporation was insufficient. Accordingly, no option agreements were executed, and the Options were never formally issued. This amended Form 4 amends the Original Form 4 to remove the Options from Table II and to reflect that only the RSUs were granted.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael Munoz</signatureName>
        <signatureDate>2025-11-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
