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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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eSports

Warriors International (WIN) & Fisker Inc. esports Partnership

George Miller

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Warriors International (WIN) & Fisker Inc. esports Partnership
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Fisker Inc – designer and manufacturer of the world’s most emotion stirring, eco-friendly electric vehicles and advanced mobility solutions – has announced a dynamic esports partnership with Warriors International. The partnership will introduce Fisker’s stunning new electric vehicle (EV), the Fisker Ocean, to Warriors International fans across North America.

Warriors International (WIN) is a Boston-based esports company spearheaded by Stage 1 Ventures. WIN is rapidly expanding into several esports titles including Rocket League, Counter-Strike: Global Offensive (CS:GO), FIFA, Smash and Fortnite. The organization is also quickly adding content creators to bolster its presence both online and on streaming platforms such as Twitch and YouTube.

Stage 1 Venture’s Managing Partner David Baum stated, “With Fisker positioned as the world’s first alldigital car company, both Fisker Inc. and WIN feel that the emerging esports space provides a great way to introduce a new, digital-savvy audience to ‘the World’s Most Sustainable Vehicle,’ the Fisker Ocean, and are excited to expand their audiences and customer base together in North America.”

Warriors International: https://warriorsinternational.gg/
Fisker Inc.: https://www.fiskerinc.com/

The Fisker Ocean will begin production in 2021 and it is currently available for reservation with a $250 (U.S.) fee via the Fisker Flexee app on iOS and Android – as well as through the Fisker website. Additional specifications will be released during the Geneva International Motor Show and via Fisker’s proprietary FLEXEE app in the coming months.

 

SOURCE Fisker Inc.

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Eastern Europe

Kyiv hosted an international esports tournament: WePlay! Mad Moon

George Miller

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Kyiv hosted an international esports tournament: WePlay! Mad Moon
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On Feb. 19-23 the Ukrainian capital hosted an international esports tournament WePlay! Dota 2 Tug of War: Mad Moon with a $300,000 prize pool. The event included players from Sweden, Poland, Jordan, Germany, Serbia, Argentina, Peru, and other countries.

Between Feb. 20 and 23, the players competed in front of a live audience at Kyiv concert-hall VDNG (pavilion #9). The residents and guests of the city had an opportunity to attend the event for free and meet esports legends such as Danil “Dendi” Ishutin, Clement “Puppey” Ivanov, Kuro “KuroKy” Salehi Takhasomi, and many others.

At the venue, WePlay! Esports and the event partners provided various activities. For example, the visitors could participate in amateur tournaments and win prizes at the WePlay! Tournament Platform stand. After their matches, the professional teams participated in autograph signing sessions.

Now that the tournament has ended, the WePlay! Esports team has received a plethora of positive feedback about the show component of the event. From SFM-clips, augmented reality, music performances, and the atmosphere of cyberpunk, the viewers were delighted by what they saw on live streams and on the stage. The approach to organizing esports events where competitive matches are a part of a show is something we call esportainment.

“Each tournament is another challenge on the quest for our goal — organizing the most popular esports shows in the world. We thrive not only to live up to the expectations of our audience but also to exceed them. WePlay! Mad Moon proved once again that we are on the right path. In March, we will announce a new event plan. Trust me; it will be impressive.”
– Managing Partner of WePlay! Esports Yuriy Lazebnikov

One of the most extraordinary moments of the show happened when teams arrived on stage on board the Madmoontruck. This moment was extensively covered in the press and went viral on social media.

In the finals of WePlay! Mad Moon, champions of the two previous Dota Pro Circuit events went toe to toe in a nail-biter series. Team Secret won the first two games of the best of 5 series, but Team Nigma managed to come back and win the championship.

WePlay! Mad Moon prize pool allocation:

  • 1st Team Nigma — $130,000
  • 2nd Team Secret — $60,000
  • 3rd Virtus.pro — $30,000
  • 4th Gambit Esports — $20,000
  • 5th/6th B8 — $12,000
  • 5th/6th Aggressive Mode — $12,000
  • 7th/8th Infamous — $8,000
  • 7th/8th Ninjas in Pyjamas — $8,000
  • Amer “Miracle-“ Al-Barkawi (Team Nigma) won $10,000 as the core MVP
  • Maroun “GH Merhej (Team Nigma) won $10,000 as the support MVP

WePlay! Mad Moon is the final tournament of the Dota 2 Tug of War trilogy series. It also included WePlay! Radiant with a prize pool of $50,000 and WePlay! Dire with a prize pool of $30,000.

According to analytical company Esports Charts, the event attracted 295,110 peak viewers during the series between Team Nigma and Virtus.pro. The official English-speaking broadcast peaked at 91,093 viewers.

“We are happy about breaking yet another record in viewership. The WePlay! Esports team once again organized a show that WOWED! We’ve set the bar even higher for ourselves and esports in general. We will only allow ourselves to get better with time.”
– Business Development Manager компании WePlay! Esports. 

#MadMoon, #WePlayDota2

Source: WePlay! Esports Press Office

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eSports

Wizards District Selects “JBM” with First Overall Pick in 2020 NBA 2K League Draft

Niji Narayan

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Wizards District Selects “JBM” with First Overall Pick in 2020 NBA 2K League Draft
Photo Source: apptrigger.com
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The 23 teams of NBA 2K League have selected 68 players and completed their rosters ahead of the league’s third season.

Wizards District Gaming selected John “JBM” Mascone with the first overall pick in the 2020 NBA 2K League Draft. Knicks Gaming selected Christopher “Duck” Charles with the second pick. With the third pick, Kings Guard Gaming chose Rafel “Crush” Davis.

There were five international players selected in the 2020 NBA 2K League Draft delivered by Panera Bread, including a historic pick in the fourth round when Hu “Luck_Yi_Wesley” Yi was chosen 56th overall by the Gen.G Tigers of Shanghai, becoming the first Chinese player drafted into the NBA 2K League. Rounding out the international players selected were Sten “SAV” Valge-Saar (Canada, 7th overall to Lakers Gaming), Jomar “Jomar-12PR” Varela-Escapa (Puerto Rico, 23rd overall to Pacers Gaming), Brock “NIKO” Nikolakakos (Canada, 36th overall to Knicks Gaming) and Destiny “JoshJay” Idugboe (Canada, 59th overall to Cavs Legion GC).

Teams used the four-round NBA 2K League Draft to complete their six-player rosters for the 2020 season. The 228 draft-eligible players consisted of 147 new players who were selected by the league through the NBA 2K League Combine, 21 players from the 11 team-hosted Pro-Am tournaments, five players from the league’s first European Invitational, five players from the league’s second Asia-Pacific (APAC) Invitational and 50 unretained players from the 2019 season.

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