FinancialBuzz.com News Commentary
NEW YORK, Dec. 13, 2021 /PRNewswire/ -- eSports is a relatively new and fast-growing industry. Just like traditional professional sports, eSports teams have owners, franchises, endorsement deals, cash prizes from tournament winnings, and more—all contributing to their annual revenue and total valuation. Additionally, awareness about esports is rapidly expanding in large part thanks to technological advancements and higher income levels around the world. And, according to a report by Business Insider, eSports viewership is expected to grow at a 9% compound annual growth rate (CAGR) between 2019 and 2023, up from 454 million viewers in 2019 to 646 million viewers in 2023, per Insider Intelligence. Most projections put the eSports ecosystem on track to surpass USD 1 Billion in revenue for the first time this year. Subsequently, Newzoo projects revenue to hit the USD 1.8 Billion by 2022. Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF), DraftKings Inc. (NASDAQ: DKNG), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Super League Gaming, Inc. (NASDAQ: SLGG), Electronic Arts Inc. (NASDAQ: EA)
Geographically, Asia-Pacific (APAC), North America, and Europe are the top three eSports markets, respectively, in terms of audience and revenue. The rest of the world only accounts for about 15% of total eSports revenue. As a result, the industry has seen a huge uptick in investment from venture capitalists, and more recently from private equity firms. Rick Yang, partner at NEA—a venture capital firm that invests in eSports—underscored this in a conversation with Insider Intelligence: "I actually think of eSports as the mainstreaming of gaming, or the pop culture instantiation of gaming versus the pure idea of these players becoming professionals to compete at the highest levels."
Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF) just announced breaking news that, "the Isle of Man Gambling Supervision Commission has approved the granting of an Online Gambling Regulation Act (OGRA) 2001 license to Livestream Esports Limited, a wholly owned subsidiary of Intema.
'The grant of the Isle of Man gambling license is major news for Intema and will have a significant positive impact on our future activities,' said Laurent Benezra, Intema's President and Chief Executive Officer. 'In particular, it allows us to comply with one of the TSX Venture Exchange's main conditions for closing the acquisition of Livestream Gaming Inc. ("Livestream"), with its LOOT.BET online gaming platform. It will also enable us to conduct our iGaming activities through one of the world's most prestigious gaming jurisdictions and, once we acquire our LOOT.BET platform, to white-label it to regulated gaming markets on a global scale. Finally, it gives LOOT.BET the same level of credibility as other online gambling platforms, throughout the gaming community and among our peers.'
'Once the license is issued, we will proceed with getting final approval from the TSXV and closing the Livestream acquisition, allowing us to start a new chapter of growth for Intema,' concluded Mr. Benezra.
The Isle of Man promotes the highest standards of jurisdictional control in the gaming industry, with extremely high ethical standards for owners and investors, making its license one of the toughest to acquire. The Isle of Man Gambling Supervision Commission gives out the fewest licenses per year. In addition, the license granted by that regulatory body has many financial and logistical benefits, and will allow Intema to offer continuously fun, safe and responsible gaming experiences for gamers around the world.
Annual General and Special Meeting of Shareholders - Intema will hold its annual general and special meeting of shareholders on Tuesday, January 4, 2022 at 10:00 a.m. ET. The meeting will be held virtually due to restrictions imposed in the context of the ongoing COVID-19 pandemic. Shareholders are invited to consult the 2022 management proxy circular and other proxy-related materials, available on SEDAR at www.sedar.com under the Corporation's profile.
About Intema - Intema Solutions Inc. is the world's emerging leader in the esports and iGaming industry. Our mission is to bring the excitement of esports betting to the entire world through fully licensed, secure online platforms. Our ecosystem consists of subsidiaries in esports, iGaming, product branding, digital advertising and marketing campaign design that are all complementary drivers of our future revenue growth. For more information, please visit our corporate website at intema.ca."
DraftKings Inc. (NASDAQ: DKNG) and The New Hampshire Lottery and Filotimo Casino & Restaurant announced on October 18th that they are teaming up again to expand retail sports betting in New Hampshire. Manchester-based Filotimo Casino & Restaurant, which houses DraftKings Sportsbook at Filotimo, today opened a sister retail sports betting establishment in Dover under the same name located at 887 Central Avenue in Rollinsford. The Filotimo property is shared between the city of Dover and the town of Rollinsford, with the building located in Rollinsford. DraftKings Sportsbook at Filotimo in Dover marks New Hampshire's third retail sportsbook; DraftKings Sportsbook at The Brook in Seabrook opened in August 2020 and DraftKings Sportsbook at Filotimo in Manchester opened in September 2020. "Sports betting has been a success in New Hampshire since launching nearly two years ago and we are pleased to continue working with DraftKings and Filotimo Casino & Restaurant to expand sports betting opportunities for our players," said Charlie McIntyre, Executive Director, New Hampshire Lottery. "The new DraftKings Sportsbook at Filotimo in Dover will further cement New Hampshire as the premier sports betting destination in the northeast, and we know this location will continue to make a major positive impact on our ongoing efforts to maximize revenue for our schools here in New Hampshire."
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced last month that it has acquired PLATYGOBIAN, S.L., doing business as elite3d, one of the world's leading creative studios dedicated to innovative 2D and 3D artwork for the video game industry. Based in Valencia, Spain, the newly acquired team will rebrand in two ways: first, to form a second office for wholly owned developer 31st Union; and second, to develop a new 2K Publishing location, including a focus on its Global Services division. In addition, 2K has acquired TURIA GAMES, S.L. in Valencia, a development studio co-owned by the founders of elite3d. Financial terms and employment numbers related to the acquisition were not disclosed.
Super League Gaming, Inc. (NASDAQ: SLGG) and Screenvision Media, a national leader in cinema and premium video advertising, announced back in November the launch Super League Spotlight, an exciting multi-episode series showcasing the best in-game action, created specifically for in-theater audiences. The first installment of the series launches today in over 2000 movie theaters nationwide. Super League and Screenvision's Super League Spotlight series presents top highlights from the live stream broadcasts of popular gaming influencers within Super League's established Core Gamer and Young Gamer networks, featuring several of the most well-known game titles in the world. With an average two-minute run time, each episode of Spotlight amplifies the best and most exciting in-game moments of the past month. This original Super League content series serves as part of the growing partnership between Screenvision and Super League, working together to give brands cross-channel opportunities to reach young adult cord-cutters with gaming-related content both in-theater and at home. Audiences in movie theaters across the country will have a front row seat to all of the competitive action on the big screen, viewing the best in engaging gameplay that Super League has to offer. Hyundai will serve as the initial series sponsor as part of a year-long partnership with Super League.
Electronic Arts Inc. (NASDAQ: EA) and WarnerMedia announced back in November the completion of EA's acquisition of Warner Bros. Games' Playdemic, Ltd. for $1.4 billion in cash, subject to customary purchase price adjustments. "We are thrilled to officially welcome the Playdemic team to Electronic Arts, adding to our growing mobile portfolio and expanding our leadership in sports," said Andrew Wilson, CEO of Electronic Arts. "The addition of the incredible Playdemic team not only adds to the strength of our mobile teams globally, it also continues our expansion and investment in U.K.-based talent. With Playdemic now part of Electronic Arts, we're excited to bring even more amazing and innovative mobile games to diverse audiences around the world."
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