Asia
MTG Enters Into Term Sheet With HUYA Inc. Regarding the Forming of a Joint Venture for China Esports Expansion and HUYA Investment Into ESL
Modern Times Group MTG AB (MTG) announced the entering into a binding term sheet and the forming of a strategic joint venture as part of a transaction that allows HUYA Inc. to acquire a minority stake in MTG’s portfolio company ESL.
- Modern Times Group MTG AB (MTG) announces the signing of a term sheet for a new strategic partnership with leading Chinese game live streaming platform HUYA Inc. (Huya).
- Pursuant to the term sheet, Huya has agreed to form a joint venture with MTG’s portfolio company Turtle Entertainment GmbH (ESL), the largest esports company in the world, to facilitate expansion into China, and to acquire a minority interest in ESL. The investment size is USD 30 million made up of both primary and secondary shares.
- ESL and Huya plan to host and build local Chinese esport competitions connected to the global ESL tournament calendar to ensure maximum Chinese esports athlete participation on a global scale.
- As part of the transaction, ESL will issue new shares at a value of USD 22 million to increase capital to be used for further expansion, parts of which will be used by ESL to fund its pro rata part of the joint venture company.
- The terms of the transaction contemplated under the term sheet are binding. Both the joint venture and the acquisition by Huya of a minority interest in ESL are subject to customary confirmatory due diligence as well as the negotiation and signing of definitive transaction documents.
If completed, the transaction will further strengthen ESL‘s position as the leading and largest esports company globally, and the forming of a joint venture between ESL and Huya will create a natural alliance to facilitate expansion of ESL’s offering in the Chinese market. The Chinese esport market in 2019 is expected to generate revenues of USD 210 million, overtaking Western Europe as the second-largest esport region globally in terms of revenues*.
Huya will acquire USD 30 million worth of primary and secondary shares in ESL at a pre-money enterprise value of ESL of USD 425 million. As part of the transaction, ESL will issue new shares at a value of USD 22 million to increase capital to be used for further expansion, parts of which will be used by ESL to fund its pro rata part of the joint venture company.
“We are pleased to establish a close partnership with ESL, which demonstrates Huya’s further penetration into the global esports sector. Together with ESL, we are thrilled to bring more world class global esports content to Chinese gaming enthusiasts,” says Rongjie Dong, Chief Executive Officer of Huya.
“We are excited to announce this term sheet for an important strategic partnership which provides us with a strong partner in Huya to pave the way for a successful ESL expansion into the thriving Chinese esport and gaming market in due time,” says MTG President and CEO Jørgen Madsen Lindemann.
Huya is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with esports event organizers, as well as major game developers and publishers, and has developed esports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China’s young generation. Building on its success in game live streaming, HUYA has also extended its content to other entertainment content genres. HUYA’s open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.
Founded in Germany in 2000, MTG’s portfolio company Turtle Entertainment GmbH (ESL) has been developed into the world’s largest esports company. It operates high profile, branded international leagues and tournaments such as ESL One, Intel® Extreme Masters, ESL Pro League and other top tier stadium-size events, as well as ESL National Championships. Through the Joint Venture ESL and Huya will build local Chinese esports competitions connected to the global ESL tournament calendar to ensure maximum Chinese esports athlete participation on a global scale.
The terms of the transaction contemplated under the term sheet are binding. The transaction is subject to customary confirmatory due diligence, as well as further negotiation of, and agreement on, complete transaction documentation and signing is expected to take place during the fourth calendar quarter in 2019. MTG – the majority owner in ESL – will retain majority ownership of ESL also following a completed transaction. The remaining shares in ESL are owned by the founders of ESL.
Source: MTG
Asia
Onlyplay Enters into Strategic Partnership with Ritchie Rabbit
Onlyplay has entered into a strategic partnership with online casino and betting company Ritchie Rabbit within the Asia region.
Ritchie Rabbit is said to have “extensive expertise and deep understanding of the Asian market,” which helps Onlyplay as it seeks to expand its presence in the region.
Through this deal, Onlyplay will introduce a range of games and features designed specifically for the Asian gaming community.
Onlyplay offers a wide range of games such as instant win, slots and crash games, and will now provide games for players in Asia.
Christina Muratkina, CEO of Onlyplay, said: “It is a great pleasure for us to develop the Asian region alongside Ritchie Rabbit. We recognize the immense potential of the Asian market and are committed to delivering top-notch gaming content and experiences to players in the region. This partnership represents a significant step forward in our efforts to offer innovative and engaging games that resonate with our Asian audience.”
Asia
FBM(R) launches FBM E-Motion: the newest online gaming platform for the Philippines
FBM® kicks off a new chapter of its Champion journey in the Philippines with the launch of FBM E-Motion! The online gaming platform disclosed yesterday in the FBM Champion’s Night event held at Xylo at The Palace in Taguig marks a historic moment for the global gaming brand in its pursuit of redefining the gaming experience of Filipino players.
FBM E-Motion promises to change the way local players interact with the FBM games. The online casino games developed under the FBM Group are now available for players in the Philippines to enjoy anytime and anywhere. Whether it is a video bingo, a slots theme or a table game, Filipino gaming enthusiasts have the control in the palm of their hands to start joyful gaming sessions.
One platform, multiple benefits for the players
The FBM E-Motion introduction means significant improvements to the local players’ gaming experience in multiple areas. The game’s accessibility is more convenient, as customers can access the platform with any desktop or mobile device.
Besides the improved accessibility, FBM E-Motion offers more gaming options since players can have fun playing various game categories from different providers. With more variety of gaming choices comes thrilling gaming opportunities as FBM E-Motion keeps users engaged with regular promotional campaigns, jackpots and bonuses to conquer.
In terms of safety and reliability, FBM E-Motion guarantees the highest quality standards. The platform got the license from PAGCOR, and all gaming services offered follow the excellence standards practiced by the FBM brand in the land-based universe, meeting all the criteria regarding legality and compliance with gaming regulations.
FBM E-Motion can be described as a user-centric platform, due to the prioritization of users’ needs, preferences, and overall satisfaction through a 24/7 dedicated customer service available in bingo halls nationwide.
This platform also stands out as the only digital platform allowing Filipino players to enjoy FBM games online in the Philippines.
FBM E-Motion is a game changer in the Filipino online gaming landscape
The release of FBM E-Motion materializes a new entertainment era for the FBM Group in the Philippines. With this step, FBM adds a new layer of engagement with the players’ community, allowing customers to try their favorite FBM titles inside and outside bingo halls in ways that were not possible.
The user-friendly interface of FBM E-Motion facilitates smooth navigation, stimulating players to try a solution crafted with cutting-edge technologies, attending to the latest trends of innovation and entertainment in this Asian country. Players can immerse themselves in a diverse range of memorable gaming experiences with FBM® exclusive games and video bingos, slots or table games provided by different providers.
The launch of FBM® E-Motion kicks off FBM®’s journey in the world of online gaming in the Philippines. With its promise of innovation, excitement and accessibility, the platform is ready to captivate players and redefine the future of their gaming experiences.
Africa
Hub88 partners with LiveGames to enhance content offering
Hub88 has partnered with live casino supplier LiveGames, further strengthening its product offering by adding a unique range of content to its platform.
LiveGames provides fully customisable online live dealer games and branded tables including the first vertical roulette table in the sector, along with crash games and the widely played Tombola.
The supplier delivers experiences with a player-focused design, easy to use mobile interface, and high-resolution broadcasts.
The partnership will support LiveGames’ goal to further expand in international markets, including Africa, Asia, and Latin America where Hub88 has a strong presence.
The deal showcases Hub88’s commitment to grow its ecosystem of partners, offering a diverse portfolio of products and content.
Ollie Castleman, Head of Hub88, said: “We’re thrilled to unveil this strategic partnership with LiveGames which sees us add a great provider to our platform, one that utilises modern technology to offer bespoke and personalised gaming experiences to players.
“We are looking forward to collaborating and strengthening our content library with their diverse games.”
The LiveGames Team said: “Our journey started in a small studio and as a team, we are excited about now expanding to every corner of the world together with Hub88 and their extensive operator network.
“We are committed to promoting innovation in the industry and this partnership will support us on that mission.”
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