ESE Acquisition Target, Digital Motorsports, Announces Multi-Year Deal with Rising F3 Star Jack Doohan

Rhea-AI Summary

ESE Entertainment Inc. (OTCQB: ENTEF) announced its acquisition of Auto Simulation Limited, trading as Digital Motorsports, an Ireland-based provider of advanced simulation racing infrastructure. The multi-year deal includes a partnership with Formula 3 driver Jack Doohan, who will serve as a Brand Ambassador until the end of 2022. Digital Motorsports will supply a custom simulator for Doohan's training, enhancing his preparation for races. This strategic move aims to strengthen ESE's presence in the esports and gaming industry.

Positive

• Acquisition of Digital Motorsports enhances ESE's portfolio in the simulation racing sector.
• Jack Doohan's partnership may boost brand visibility and attract racing enthusiasts.

Negative

• Uncertainty surrounding the completion of the acquisition and realization of anticipated benefits.

VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) -- ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF) (the “Company” or “ESE”) is excited to announce that its acquisition target, Auto Simulation Limited T/A Digital Motorsports (“Digital Motorsports”), an Ireland-based provider of advanced simulation racing infrastructure, technology and support, has signed a multi-year deal with Formula 3 racer, Jack Doohan.

Jack recently had an incredible performance at the Spa-Francorchamps where he placed first in two of three races in Formula 3, the fiercely competitive Formula 1 feeder series. ESE is delighted to announce a multi-year partnership deal that will see Jack represent Digital Motorsports as a Brand Ambassador until the end of 2022.

Digital Motorsports will be providing Jack with a bespoke professional spec simulator tailored to his requirements to aid his training and race preparation regimes. In addition, Digital Motorsports will be working closely with Jack and his engineers to fine tune the simulator to precisely replicate the Dallara Formula 3 car and its 3.4 litre Mecachrome V6 engine.

"I am excited to announce my partnership with Digital Motorsports. Motorsport simulators and sim racing are now a crucial element of the training and preparation regime for any professional driver on the road to Formula 1. The availability of testing and seat time is both limited and expensive, which makes access to a professional motorsport simulator an exciting prospect! It is an honour to partner with Digital Motorsports and to have the opportunity to take my racing career and simulator preparation to the next level thanks to their support. I can’t wait to get started!" commented Jack Doohan.

Jack is an 18 year-old Australian and part of the Red Bull junior driver program. He is the son of legendary motorcycle racer Mick Doohan, who won the 500cc World Championship five years in a row.

Jack made his FIA Formula 3 Championship debut last year and is currently positioned second in the championship. He competes amongst the best young drivers in the world, despite only having three years of experience in single-seater racing.

Jack starred in Formula 4 Racing in 2018, capturing three wins, 12 podium finishes and seven fastest laps in the British series.

In 2019, he scored two podium finishes in the Euroformula Open and was second in the Formula 3 Asian Championship with an impressive five wins, two poles, five fastest laps and 13 podium finishes.

After making his FIA Formula 3 debut in 2020, Jack returned in 2021 with his sights firmly set on winning the championship and with six rounds still to go, it's very much within his grasp.

In addition to the drivers championship, Jack's teammates David Shumacher (son of Ralf Schumacher) and Clement Novolak managed to close the gap in the constructors championship to just 16 points after last weekend's successful trip to Spa-Francorchamps.

Digital Motorsports Director, Rob King, stated, "I think we're just as excited as Jack is about this partnership. Jack has the talent and drive to succeed and we're going to do everything we can to help him on his journey. Jack is a nice guy and because of this he is just like Button or Ricciardo - he's the guy you're betting on to win!”

“From a technology perspective, we have never been in a better place to offer simulators to drivers and teams that precisely replicate the real-world cars. Vehicle mapping, laser scanning and use of vehicle data has now got to a point where ultra-realism is accessible to everyone. To put that into perspective, team RLR M-Sport's LMP3 simulator, which was supplied & developed by us is now so accurate that Tommy Foster's qualifying lap at Le Mans last week was within 0.01 seconds of his best time on the simulator. Previously this level of vehicle dynamic realism was the reserve of teams with multi-million-dollar budgets, but we can now offer this tech to club racers, it's an exciting time to be in this space,” added Mr. King.

Jack joins an impressive list of Digital Motorsports Ambassadors, competing across multiple motorsport disciplines:

James Deane - 3 Time World Drifting Champion
Craig Breen - Factory Hyundai WRC Driver
RLR M-Sport - LMP 3 team
Cian Carey - LMP2 & F3 Driver
Conor Shanahan - Red Bull Athlete & Drifter
Nicole Drought - Britcar Endurance Driver
Josh Malin - Porsche Carrera Cup Driver
Paul O'Connell - Hillclimb Champion, Formula Boss Champion & Leinster Trophy Winner
Aron Smith - BTCC driver
Jack Doohan - FIA F3 Driver

About Digital Motorsports
Digital Motorsports is an award-winning organization and one of the leading simulation racing companies worldwide. Digital Motorsports operates an ecommerce store and owns a portfolio of intellectual property related to racing simulator solutions, components, and cloud-based racing services. Additionally, Digital Motorsports is currently developing both products and technology to reduce the complexity and barriers to entry in sim racing. Digital Motorsports has key vendor distribution rights and partnerships in the industry. | www.digital-motorsports.com

About ESE
ESE is a Europe based entertainment and technology company focused on esports and gaming. ESE’s assets consist of multiple world-class operators in the gaming and esports industries. The Company’s capabilities include but are not limited to: physical infrastructure, broadcasting, global distribution for gaming and esports-related content, advertising, sponsorship support, and a growing esports team franchise, K1CK Esports. ESE is focused on bridging the gap between the European, Asian and North American esports industries. | www.ese.gg

Forward-Looking Statements
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that ESE anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to the Company’s proposed acquisition of Digital Motorsports, Jack Doohan’s prospects for success and progression to Formula 1 racing and the benefits of motorsport simulators. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of ESE to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Among other things, there can be no assurance that the Company’s acquisition of Digital Motorsports will be completed or that the anticipated benefits from such transaction will be achieved. Such factors may be based on information currently available to ESE, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of ESE should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE ESE Entertainment Inc.
For further information about ESE, please contact:
Daniel Mogil, Investor Relations
investors@esegaming.com
647-492-1535

FAQ

What is the purpose of ESE's acquisition of Digital Motorsports?

The acquisition aims to strengthen ESE's portfolio in the simulation racing sector and enhance its presence in the gaming industry.

Who is Jack Doohan and what role will he play?

Jack Doohan is a Formula 3 driver who will serve as a Brand Ambassador for Digital Motorsports under a multi-year partnership.

What technology will Digital Motorsports provide to Jack Doohan?

Digital Motorsports will supply a bespoke professional simulator tailored to Doohan's training and race preparation needs.

How could this acquisition impact ESE's stock performance?

While the acquisition could enhance ESE's market presence, there are uncertainties regarding the successful completion of the deal and its expected benefits.