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MTG announces strategic review of its gaming vertical and to explore listing in the US

George Miller

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MTG announces strategic review of its gaming vertical and to explore listing in the US
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  • MTG to initiate a strategic review of its gaming vertical in order to evaluate the best route to crystalize value for shareholders
  • The strategic review could result in a Joint Venture (JV) partnership for the gaming vertical to enhance its competitive position or that MTG fully transitions to become a global pure play esport company
  • Within the context of the strategic review, MTG will explore an additional listing in the US which is one of the biggest esport markets in the World

Modern Times Group MTG AB (MTG) announced the initiation of a strategic review of its gaming vertical including the VC Fund’s gaming investments, in order to evaluate the best route to crystalize value for shareholders. The outcome of the strategic review could result in a JV partnership for the gaming vertical to get access to capital and new geographies or MTG becoming a global pure play esport company.

The value creation in the gaming vertical has been significant since the acquisition of InnoGames. Since the split, MTG has been approached with a range of different alternatives for the company to become even more competitive. As a result, the company has decided to initiate a strategic review of the gaming vertical, in order to evaluate the best route to crystalize value for shareholders.

As part of the strategic review, MTG will explore an additional listing in the US which is one of the biggest esport markets in the World.

“We have the opportunity to establish MTG as a global leader in the esport industry and we will accelerate value creation by further combining and extracting synergies in our ownership of the two strongest esport brands globally, aided by our solid financial position and commercial operational expertise. Through the strategic review, we will consider all options for our gaming vertical to crystalize and create maximum shareholder value, and at the same time evaluate the potential for MTG as a global pure play esport company”, says President and CEO Jørgen Madsen Lindemann.

After the strategic review is completed, MTG intends to assess its financial principles and cash requirements going forward in accordance with the company strategy of growing organically and through acquisitions. The outcome of the review could lead to a potential redistribution of any excess cash to its shareholders.

Independent and in parallel to these processes, MTG considers implementing an operational efficiency program to ensure a right sized and more efficient headquarter organization. Expected annual savings amounts to around SEK 50 million, approximately 75 % being realized in 2020 and the remainder in 2021. The normalized targeted run rate for central operations cost will be approximately SEK 100 million per annum.

Before a final decision on the operational efficiency program is taken, MTG will enter into a period of consultation with employee organizations. This is planned to take place during November 2019.

MTG intends to regularly update the market on the progress of the strategic review and operational efficiency program in its quarterly interim reports.

 

About MTG:
MTG (Modern Times Group MTG AB) is a strategic and operational investment holding company in esports entertainment. Born in Sweden, the shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).

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Game on for the Global Esports Federation With Top Ranking Esports Athlete Tokido

George Miller

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Game on for the Global Esports Federation With Top Ranking Esports Athlete Tokido
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The Global Esports Federation enhances its Athletes and Players Commission with the inclusion of Japan’s top gamer, Hajime Taniguchi, better known as Tokido.

“Esports is now among the fastest growing sport and entertainment globally. Skills and commitment alone are not enough to guarantee long-term success in esports, health and wellbeing are as important to ensure a sustainable career in esports. I’m honored to be a part of a worldwide organization that places equal emphasis on the overall wellbeing of players and athletes, empowering them to keep levelling-up their game, and at the same time establishing a sustainable career pathway for esports athletes to succeed,” said Tokido, Esports Champion, Member of Athletes and Players Commission, Global Esports Federation.

“We are thrilled to welcome an esports legend onto the Athletes and Players Commission. I trust that the Global Esports Federation will benefit greatly from his expansive experience having competed on some of the most prestigious world stages in esports,” said Charmaine Crooks, Vice President and Chair, Athletes and Players Commission, Global Esports Federation. “Tokido’s involvement in the Commission will help further the detailed work we have already put in to shape the organization, convening this incredible community, while enhancing the representation of the world’s esports athletes.”

Recognized by fans and the esports community as one of the “Five Gods” of Japanese Street Fighter with a long legacy of winning at the game across multiple eras, Tokido has won many global and domestic titles including, Evo (2002, 2007 and 2017), Canada Cup (2018 and 2019) and Topanga Championship 2020. Hailing from Okinawa, he grew up in Yokohama, Japan and graduated from Tokyo University. Tokido became a professional gamer in 2010 and was a member of Team Mad Catz from 2011 to 2016 and Echo Fox between 2017 and 2019. He has also published two books that chronicle his journey to becoming a professional esports champion; and explain his personal philosophy on commitment and determination that expanded his esports career.

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UltraPlay is the Esports Service Provider in the Nordics from BSG Awards 2020

George Miller

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UltraPlay is the Esports Service Provider in the Nordics from BSG Awards 2020
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Bulgarian-based company UltraPlay has been recognized by the Baltic and Scandinavian Gaming Awards as the Best Esports Service Provider in the Nordics 2020. The awards ceremony was held last week in Tallinn, during the first live conference since March this year. The winners have been decided by a final vote, which was submitted by the attending participants.

BSG Awards are continuing its mission of creating an independent, fair and representative awards event that recognizes significant achievements within the Baltic and Scandinavian gaming industry.

Lyubomira Petrova, CMO at UltraPlay said: “We are honored to be acknowledged as the Best Esports Service Provider in the Nordics – a region that is particularly strong when it comes to eSports. It’s the second time in a row to be highly recognized by the BSG Awards and its attending delegates, which confirms we are on the right track – developing and enhancing this very specific betting vertical.”

Last year, UltraPlay has won the Best Esports Service Provider in the Baltics. With the company’s efforts in expanding its presence in the Scandinavian region, UltraPlay has achieved to add the latest accolade to its portfolio of 18 awards.

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eSports

Evolved Buys ARC to Gain Global Footprint

Niji Narayan

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Evolved Buys ARC to Gain Global Footprint
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Evolved, the award-winning esports agency has acquired ARC, an emerging French esports agency.

Ryan Morrison, CEO of Evolved elaborated on the deal: “The team at ARC has a proven track record of success in representing top esports talent in Europe, and fighting as hard as possible for their clients,” says. “In working together, we’ll set the standard for player representation in Europe and make great strides to support the European esports scene. I’m pleased to welcome the team to the Evolved family and look forward to uniting our efforts to grow our reach and support our mission across the globe.”

Led by notable esports agent Nathan Laprade, ARC will continue to operate out of Paris, France and service clients across Europe.

Laprade said: “Joining Evolved is a big step for our players and us. As pioneers in the European region, we have been bringing value to players’ careers for years, and we are thrilled that our efforts will be strengthened with our partners at Evolved who stand for the same values as us. This move will benefit our players greatly, as they will gain access to a world-class team who will, with us, support their professional development, protect their interests in negotiations, and secure new opportunities throughout their careers.”

A number of games from Evolved has become player favorites, as evidenced from the fact that it has negotiated more player deals than any other agency.

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