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 Q2 2021 revenues of $2.2 million, down 42% from $3.9 million in Q2 2020. The net loss was $6.0 million, compared to $32,000 in the prior year. Adjusted EBITDA was (3.7 million), a drop from $0.4 million positive in Q2 2020. The company announced the launch of NASCAR 21: Ignition on October 28, 2021, with pre-orders starting tomorrow. They also acquired Studio397 and all equity interests in 704Games, enhancing their gaming portfolio.
Motorsport Games (NASDAQ: MSGM), a key player in racing game development, will engage in a fireside chat on August 12, 2021, at 12:00 PM ET, moderated by Michael Graham from Canaccord Genuity. This event will provide insights into the company's strategies and future plans. Investors can join the live webcast via the Motorsport Games Investor Relations website, with an archived replay available for one year. Motorsport Games is renowned for developing official video games for prestigious motorsport series like NASCAR and INDYCAR.
Motorsport Games, Inc. (NASDAQ: MSGM) will announce its second-quarter financial results for the period ending June 30, 2021, on August 11, 2021, following the market close. A conference call is scheduled for 5:00 p.m. ET the same day to discuss these results, accessible via the company's Investor Relations website. The management encourages investors to join the call and view an investor video highlighting key achievements for the quarter.
Motorsport Games (NASDAQ: MSGM) has entered a long-term licensing agreement with the NTT INDYCAR SERIES to develop an official racing video game. The game is scheduled for release in 2023 on Xbox, PlayStation, and PC, highlighting Motorsport Games' commitment to providing authentic racing experiences. This partnership aims to enhance fan engagement through new esports events, with further details forthcoming. Both parties express enthusiasm over the collaboration, emphasizing the potential for immersive gameplay that reflects INDYCAR's competitive spirit.
Motorsport Games (NASDAQ: MSGM) announced that CEO Dmitry Kozko will participate in a podcast interview on June 4, 2021, at 9:00 AM ET, hosted by Jeff Kone from The Wall Street Resource. The audio webcast will be accessible on Motorsport Games' investor relations website. The company is known for developing officially licensed video games for major motorsport series including NASCAR and Le Mans, and acts as a key esports partner for various racing events.
Motorsport Games (NASDAQ: MSGM), a top racing game developer, will have its CEO, Dmitry Kozko, present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 12:40 PM ET. The presentation aims to provide insights into the company's developments and future plans. Attendees can access a live audio webcast and a replay on the company's investor relations website. Motorsport Games is known for its official licenses with major racing series, including NASCAR and 24 Hours of Le Mans, and is a key player in the esports racing scene.
Motorsport Games Inc. (NASDAQ: MSGM) announced that CEO Dmitry Kozko and Mike Vorhaus of Vorhaus Advisors will participate in the Let’s DEW Lunch webinar on May 26, 2021, at 3:00 PM ET. The webinar, focused on 'The Business of Games', will feature a moderated interview and audience Q&A. Let’s DEW Lunch is a free daily streaming show discussing the entertainment and gaming industries. Motorsport Games is known for developing and publishing officially licensed racing games for series such as NASCAR and the 24 Hours of Le Mans.
Motorsport Games, Inc. (NASDAQ: MSGM) reported Q1 2021 financial results, revealing revenue of $2.5 million, down from $3.2 million in Q1 2020. Gross profit declined to $1.7 million, although gross profit margin improved to 68%. The net loss widened to ($14.1 million) compared to ($0.2 million) in the prior year. The company announced the anticipated launch of its new flagship game, NASCAR NXT, in Q3 2021 and made strategic acquisitions to enhance its market position. Key personnel, including Gérard Neveu, were added to strengthen industry relationships.
Motorsport Games (NASDAQ: MSGM) recently won the prestigious Sports Technology Award for 'Best Use of Esports by a Sports Brand' for its successful event, the 24 Hours of Le Mans Virtual. This event, a collaboration with ACO and FIA WEC, showcased 200 drivers from 37 countries and achieved record TV and digital viewership exceeding 60 million. The award highlights the event's groundbreaking technological achievements and its recognition amidst competitors like Formula 1 and the Deutsche Football League. This accolade adds to the company's previous awards, emphasizing its impact in the esports domain.
Motorsport Games (NASDAQ: MSGM) has completed the acquisition of Studio 397, a leading developer of the rFactor 2 racing simulation platform. This acquisition, finalized in April 2021, enhances Motorsport Games' product portfolio and development capabilities. Studio 397 will continue to operate under its name and contribute to various Motorsport Games projects, including the NASCAR reboot and titles based on prestigious racing licenses such as the British Touring Car Championship. The acquisition is expected to positively impact Motorsport Games' esports offerings.
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