Welcome to our dedicated page for Motorsport Games news (Ticker: MSGM), a resource for investors and traders seeking the latest updates and insights on Motorsport Games stock.
Motorsport Games Inc. (NASDAQ: MSGM) is a leading developer, publisher, and esports ecosystem provider for official motorsport racing series. Headquartered in Miami, Florida, the company was founded in 2018 and has since combined engaging video games with exciting esports competitions and content for racing fans and gamers worldwide.
The core business of Motorsport Games Inc. revolves around the development and publishing of interactive racing video games. It holds licensing agreements for iconic motorsport racing series such as NASCAR and the British Touring Car Championship (BTCC). The company is also an esteemed esports partner for NASCAR, 24 Hours of Le Mans, Formula E, BTCC, and the FIA World Rallycross Championship, among others.
The company's business segments include the development and publishing of video games, entertainment content, and services, and the organization and facilitation of esports tournaments. Motorsport Games Inc. recently announced new features and updates for its flagship game, Le Mans Ultimate, introducing a Radar feature, Replay Suite, and improved race starts. They also plan to release additional 2024 content including new cars and circuits throughout the next 12 months.
In the esports sector, the company recently resolved a licensing dispute with BTCC and signed a new non-exclusive license agreement to reinstate BTCC content in the acclaimed rFactor 2 racing simulation. Moreover, they launched a new platform, RaceControl.gg, in collaboration with Coach Dave Academy, to enhance player engagement with their games.
Despite facing some financial challenges, Motorsport Games continues to focus on expanding its product portfolio and improving its existing offerings. The company remains committed to providing an authentic racing experience for its users and has plans to further innovate and enhance its gaming and esports platforms.
Recent financial results and updates, including strategic plans and partnerships, are available on the company’s investor relations website and through various media channels.
Motorsport Games (NASDAQ: MSGM) reported Q3 2021 financial results with revenues of $2.1 million, down 77% from $9.0 million in Q3 2020. This decline was attributed to the absence of new game releases in the quarter. The firm launched NASCAR 21: Ignition on October 28, 2021, and plans to release NASCAR Heat Ultimate Edition+ for Nintendo Switch on November 19, 2021. Net loss amounted to $6.7 million, or $0.56 per share, versus a profit of $2.6 million in the prior year. The company anticipates full-year 2021 revenues of approximately $20.5 million and an Adjusted EBITDA loss of around $12 million.
Motorsport Games has officially launched NASCAR 21: Ignition, available for PlayStation, Xbox, and PC. This latest installment promises the most authentic NASCAR experience yet, featuring a free upgrade path for next-gen consoles. Players can choose between Standard and Champions Editions, with the latter offering exclusive content, including playable character Bill Elliott and a season pass for additional drivers and paint schemes. The game utilizes the Unreal Engine and rFactor physics for realistic gameplay, immersing players in the 2021 NASCAR Cup Series.
Motorsport Games Inc. (NASDAQ: MSGM) will announce its third quarter financial results on November 4, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results. Investors can access the live webcast through the company’s Investor Relations website. Motorsport Games is a leader in video game development for motorsport series, including NASCAR and INDYCAR, and is also known for its esports competitions. The company’s focus on engaging content and partnerships with major racing series positions it well within the gaming and esports market.
Motorsport Games, a leading developer of racing games, announced the release of NASCAR Heat Ultimate Edition+ for Nintendo Switch, set for November 19, 2021. Pre-orders opened on October 15, 2021. This edition features the 2021 NASCAR Cup Series, including cars, drivers, and paint schemes, alongside the existing content from NASCAR Heat 5 Ultimate Edition. The game will offer enhanced modes such as Career Mode with improved stat tracking and online racing for up to 16 players. CEO Dmitry Kozko expressed excitement about expanding the game to a new platform.
Motorsport Games (NASDAQ: MSGM) announces the start of the 2nd stage of the Le Mans Virtual Series, the 6 Hours of Spa Virtual, on October 16, 2021, at 7:30 a.m. EDT. Following a successful first round with over 2.6 million impressions, the event will feature 38 entries racing on a renowned Belgian circuit. The series, a collaboration with the Automobile Club de l’Ouest, includes five rounds, culminating in the 24 Hours of Le Mans Virtual in January 2022.
Motorsport Games (NASDAQ: MSGM) announced the full entry list for the 2021-22 Endurance Esports Championship, featuring 177 drivers across 38 teams. This season includes renowned racers like Jenson Button and Bruno Senna, as well as young talents such as Liam Lawson. The series consists of five rounds, culminating in the 24 Hours of Le Mans Virtual on January 15-16, 2022. Supported by major brands like Thrustmaster and Rolex, the championship offers a prize fund of $250,000 and aims to deliver exciting competitive events for esports fans worldwide.
Motorsport Games (NASDAQ: MSGM) will feature CEO Dmitry Kozko, President Stephen Hood, and CFO Jonathan New in a fireside chat at D.A. Davidson’s 20th Annual Software and Internet Conference on September 9, 2021, at 5:00 PM ET. The event can be accessed via a live webcast on the Motorsport Games Investor Relations site. Motorsport Games specializes in developing and publishing video games for various motorsport racing series and is an esports partner for major racing events globally.
Motorsport Games and the Automobile Club de l’Ouest announce the return of the Le Mans Virtual Series in September 2021. This expanded esports championship will feature five rounds, including four online events and a grand finale broadcast live, scheduled for January 15-16, 2022. The series includes high-profile partners like Rolex and Goodyear. The total prize pool for the finale is $250,000, aiming to attract a global audience with races on iconic tracks. More details, including the driver lineup, will be revealed soon.
Motorsport Games has announced the addition of Peter Moore to its Board of Directors, enhancing its leadership with his extensive experience in the gaming and sports entertainment sectors. Moore, currently serving as SVP and GM at Unity Technologies, previously held top roles at EA Sports and Liverpool FC, including being named Premier League CEO of the Year. This strategic move follows Motorsport Games' recent acquisitions, including Studio 397, aimed at growing its esports and racing game capabilities. The company continues to focus on expanding its product offerings, including upcoming titles tied to NASCAR and INDYCAR.
Motorsport Games has announced the release date for its newest title, NASCAR 21: Ignition, set for October 28, 2021. Pre-orders begin August 12, 2021, with early access for those who pre-order. The game will be available on PlayStation 4, Xbox One, and PC. Powered by Unreal Engine and rFactor's simulation engine, it promises enhanced gameplay and realism. Players can also enjoy online multiplayer with up to 40 participants. The game features official NASCAR drivers and teams, along with a detailed career mode and extensive customization options.
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