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Esports entertainment company Allied Esports has announced its fourth quarter and 2021 annual financial results. Allied Esports has reported revenues of nearly $5m (~£3.9m) in 2021, up 54 percent from $3.2m (~£2.5m) in 2020. Moreover, net income increased to $62.9m (~£50m), which is a substantial change from 2020’s net loss of $45.1m (~£35.8m). RELATED: EEG announces $38.6m impairment charge to esports assets One of the major factors contributing to Allied Esports results was the sale of The World Poker Tour in July 2021 for $105m (~£83.2m). On its balance sheet, Allied Esports saw a 70 percen...
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Greywood Investments, the largest shareholder of Canadian gaming and esports company Enthusiast Gaming, has publicly targeted the organisation’s leadership, urging its CEO Adrian Montgomery to step down. Greywood, which owns 9.3 percent of Enthusiast Gaming, created a website named ‘Upgrade EGLX’ to publish texts in which the shareholder expresses its discontent with the current Enthusiast Gaming management. In particular, Greywood highlights data like the drop of stock value by the holding from ‘$8.64 (~£5.36) on April 20th, 2021, to $2.10 (~£1.30) per share on May 23rd, 2022. RELATED: Enthus...
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Brazilian esports organisation Los Grandes will officially enter the CBLOL (Brazil’s franchised League of Legends competition) after purchasing 20 percent of Simplicity Esports’ Brazilian subsidiary Simplicity One. Simplicity’s Brazilian subsidiary currently runs CBLOL franchise Flamengo Esports. As a result of the purchase, the Brazilian organisation will rename the team Flamengo Los Grandes. RELATED: Becoming big: How Los Grandes ‘just happened’ Los Grandes will immediately take over Simplicity’s Brazilian League of Legends operations. According to an interview with Los Grandes owners Rodrig...
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North American esports organisation 100 Thieves has announced that it will produce its own video game. To achieve this feat, the organisation has hired former Telltale Games CEO Pete Hawley as its Chief Product Officer. Hawley will aim to set up a development studio and handle the project. RELATED: Interview: JBL x 100 Thieves Headset collaboration According to a LinkedIn post by 100 Thieves President & COO John Robinson, the game, which is currently called ‘Project X,’ will be built with the organisation’s content creators and esports professionals. Robinson also announced the organisation wi...
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Game developer and esports company Riot Games has announced the broadening of its partnership with Statespace, the developer of aim training tool Aim Lab. As a part of the expansion, Riot Games will become a minority shareholder in Statespace. Aim Lab will also become the official training platform for Riot’s FPS title VALORANT. RELATED:Aim Lab signs three-year deal with VCT EMEA Aim Lab, which Statespace is best known for, is a free-to-play training software that allows FPS players to practice in realistic in-games scenarios, such as aim training, ‘peeking’ corners and hitting moving targets....
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The Saudi Arabian government’s Public Investment Fund (PIF) has reportedly acquired a five percent stake in game developer and publisher Nintendo. The $500bn (~£403bn) fund said it purchased the stake for ‘investment purposes’, according to a filing to Japan’s Finance Ministry reported by Bloomberg. The PIF is Saudi Arabia’s sovereign wealth fund. It has purchased similar stakes in Japanese game publishers Capcom and Nexon for a combined reported $1bn (~£0.8bn). PIF also owns stakes in EA, Take-Two and SNK through its fund and its subsidiaries. Saudi’s PIF fully owns Savvy Gaming Group, which ...
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Canadian esports holding company OverActive Media, owners of MAD Lions, Toronto Ultra, and Toronto Defiant, has revealed its financial results for the first quarter of 2022. The company recorded CAD $2.1m (~£1.3m) in revenue and a net loss of CAD $4.6m (~£2.88m). Both figures are higher than those recorded for the same time period last year. RELATED: OverActive Media releases 2021 financial reports OverActive Media attributes revenue growth to an increase in sponsorship revenue. This is tied to the fact that the company’s MAD Lions team signed a lucrative partnership with blockchain company Zi...
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Esports data company Bayes Esports has announced a strategic investment of €6m (~£5.1m) that will be used to further scale the company and expand to new markets. According to the release, the new investment will be used to hire at least 25 new team members and double the Berlin-based company’s strategic partnership portfolio. RELATED: Bayes continues crunching numbers for ESL Gaming US-based resort operator Las Vegas Sands was the main investor, joined by BITKRAFT Ventures. Bayes esports is a company that uses AI and other tools to create data from esports matches. That data is then used by th...
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AI-based esports video-highlight platform Sizzle.gg has announced the closure of a $5m (~£4.10m) investment round led by White Star Capital. The seed funding round also saw contributions from investors such as Progression Fund, Eterna Capital, Play Ventures, Mindset Ventures and Xoogler Ventures. RELATED: Generation Esports secures $19m in funding Sizzle specialises in automatically creating short highlight videos from esports competitions, teams and streamers. The investment news occurs as Sizzle leaves its beta phase, becoming available globally with plans to maintain ‘rapid expansion’. In t...
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Brazilian esports organisation W7M Esports has announced its return to Garena’s Free Fire esports scene by unveiling a woman’s team that will play in the Brazil Woman League. In addition, W7M Esports also disclosed to Esports Insider how much its Brazilian Free Fire League (LBFF) slot was sold for back in August 2021. W7M Esports’ Founder, Felipe Funari, stated that the spot, which was ultimately sold to Bonde, cost around $1m BRL (~£163,000), confirming local speculations on the value. RELATED: Garena signs deal with Brazilian retail giant Casas Bahia According to Funari, the reason for sale ...
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