Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Aug. 13, 2019 /PRNewswire/ -- Today gaming is available to consumers at all times and over all devices. This year, more than 2.5 billion gamers across the world, will spend $152.1 billion on games in 2019, representing an increase of +9.6% year on year. An industry report projects that consumer spend on games will grow to $196.0 billion by 2022, a CAGR of +9.0% between 2018 and 2022. The global gaming market continues to grow at a significant pace, but some sub groups will be growing more than others. Social gaming is one of those subsets, along with social casino as a subset of social gaming itself. Another report by Global Market Insight added: "The social gaming market is growing at a rapid pace on account of the increasing adoption of advanced gaming technologies, rising income levels, low cost of games, increase in online content, and digital distribution, which allow users to download the content on their systems. Popular social gaming genres, such as social casino is likely to drive the market growth during the forecast period due to the increasing social gaming traffic." This is why so many gaming companies are starting to look into this direction. Gaming is betting big on social gambling, and based on current app usage numbers, so are consumers. Active tech and gaming stocks in news today include: Activision Blizzard, Inc. (NASDAQ: ATVI), Tapinator, Inc. (OTC: TAPM), Glu Mobile Inc. (NASDAQ: GLUU), Zynga Inc. (NASDAQ: ZNGA), HUYA Inc. (NYSE: HUYA).
Another report describes the social casino subset as follows: "Social casino is a sub segment of social gaming which permit players to play casino based social games, which is inspired by real money versions of the casino games. Social casino gaming is the gambling of a virtual currency without the chance of real loss or gain. Generally, there are two business models employed in the social casino gaming industry named as Up-front and Free game or freemium or free-to-play commercial model. The different categories or types of social games are casino style, poker, slots, bingo and various other table games." The report continued: "The global social casino market is expected to increase at high growth rates during the forecasted period (2018-2022). The global social casino market is supported by various growth drivers, such as, rising number of social media users, growing global population, budding internet penetration, emerging smartphones and gaming traffic, etc."
Tapinator, Inc. (OTCQB: TAPM) BREAKING NEWS – Tapinator, a developer and publisher of category leading apps for mobile platforms, with a significant emphasis on social casino games, today announced financial results for the three and six months ended June 30, 2019, and the filing of its quarterly report on Form 10-Q for the period ended June 30, 2019. The quarterly report may be found at http://www.sec.gov. The results provided below replaces, in their entirety, any guidance or projections previously issued by the Company.
Ilya Nikolayev, Tapinator's Chief Executive Officer, stated, "The Company had a very strong second quarter with solid company-wide Bookings growth led by our social-casino focused, Category Leading Apps. We now have a solid base of these products from which we plan to continue to expand via our strategy of developing select, best-in-class mobile software applications with a clear focus on the social-casino genre." Highlights include:
- Revenue grew 83% year-over-year to $1.3mm
- Category Leading Apps Revenue grew 282% year-over-year to $1.1mm
- Bookings grew 9% year-over-year to $967k
- Category Leading Apps Bookings grew 101% year-over-year to $566k
- Net loss decreased 52% year-over-year to $265k
- Adjusted EBITDA increased 2,781% year-over-year to $293k
Andrew Merkatz, President and Chief Financial Officer of Tapinator commented on the Company's results. "We are very proud of our operating results for the first half of 2019. Our previous strategic decision to focus on Category Leading Apps is now paying beginning to pay off in the form of solid Revenue, Bookings and adjusted EBITDA growth. As we look out over the next 12 months, we believe we are very well situated to achieve continued Revenue and Bookings growth. Over the last year, we have significantly improved both the product and earnings quality of our core mix of apps. We are now positioned to invest more heavily into these existing products, while we selectively develop new applications with significant potential to enhance our portfolio." Read the full financial report and more news for TAPM at: https://www.financialnewsmedia.com/news-tapm
In other gaming industry news and developments of note:
Activision Blizzard, Inc. (NASDAQ: ATVI) News: Recently, Activision and Infinity Ward revealed the all-new Call of Duty®: Modern Warfare® multiplayer universe to all gamers with a thrilling multiplayer premiere trailer. Scheduled for worldwide release on October 25, Call of Duty: Modern Warfarewill bring first-person action fans, Call of Duty fans, and gamers from all walks of life together in the ultimate multiplayer playground. First details of Modern Warfare multiplayer will be unveiled by some of the world's most prolific streamers in an exclusive global livestream today, where viewers will get their first look at the new online multiplayer, and will also have the opportunity to join the fun and get their own hands-on experience next month when the Modern Warfare Beta goes live for everyone.
Glu Mobile Inc. (NASDAQ: GLUU) a leading global developer and publisher of free-to-play mobile games, recently announced financial results for its second quarter ended June 30, 2019. The company also provided its outlook for its financial performance in the third and fourth quarters and updated full year 2019 financial guidance.
Nick Earl, Chief Executive Officer, stated, "In the second quarter, Glu had its highest bookings quarter ever driven by double digit year-over-year growth in all three of our Growth Games and we launched two exciting new titles – WWE Universe and Diner DASH Adventures. We are particularly encouraged by the strong early performance from Diner DASH Adventures, a Glu original IP game, and the progress we've made on our pipeline of potential Growth Games, including Disney Sorcerer's Arena. In the second half of the year, our focus will be on enhancing our live titles with new features and continuing to fine-tune our pipeline of potential Growth Games. We believe that this strategy will help build momentum in the second half and set us up for strong results in 2020."
Zynga Inc. (NASDAQ: ZNGA) a global leader in interactive entertainment, recently unveiled Pagani Automobilli's jaw-dropping new hypercar, the Huayra Roadster BC, in the world's most popular mobile drag racing game, CSR Racing 2 (CSR2). This is the first time a car manufacturer has unveiled a real designer car in a mobile game before releasing it to the public. The Roadster BC will be featured in a special 80 race ladder with a time attack leaderboard unlocking at the end.
The Pagani Huayra Roadster BC is the hypercar that embodies Pagani's ultimate technical and engineering development combined with the most eminent research for style and elegance. Zynga meticulously rebuilt the car in CSR2, just as the real car is handcrafted for Pagani's customers.
HUYA Inc. (NYSE: HUYA) News: Leading game live streaming product Nimo TV has officially arrived in Brazil. The HUYA-backed brand is making their world-class streaming platform accessible to all Brazilian users.
Nimo TV, a subsidiary of China's leading live streaming platform HUYA, is helping its parent company expand its live streaming footprint across the globe. As the Chinese gaming industry has expanded abroad, HUYA has taken the lead in global game live streaming growth by launching the Nimo TV brand in Southeast Asia and Latin America.
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