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 Q4 and fiscal 2021 results, showcasing a 180% revenue increase to $8.2 million, driven by the launches of NASCAR 21: Ignition and NASCAR Heat Ultimate Edition+ for Nintendo Switch. Despite gains, the company faced a net loss of $7.0 million, up from $3.0 million a year prior, attributed to higher operating costs. Total revenue for 2021 was $15.1 million, down from $19.0 million in 2020. The company anticipates ongoing losses and may seek additional financing to address liquidity challenges amid an expansive product roadmap and operational adaptations to current geopolitical tensions.
Motorsport Games has extended its partnership with Formula E, becoming the official sim racing platform for the all-electric motorsport series. The integration into rFactor 2 will include updates reflecting Season 8 drivers and teams, allowing players to race on iconic circuits. This partnership aims to enhance esports events and fan engagement through the new Accelerate esports series, powered by rFactor 2. The Formula E update is now live, elevating fan experiences across global venues.
Motorsport Games (NASDAQ: MSGM) has appointed former Formula One driver Romain Grosjean as a technical advisor to enhance its rFactor 2 simulation platform and esports events. Grosjean will participate in four technical test sessions, providing expertise to improve the platform and consult on major esports events like the Le Mans Virtual Series and the INDYCAR-Motorsport Games Pro Challenge. His involvement is expected to strengthen Motorsport Games' offerings in the growing esports market.
Motorsport Games (NASDAQ: MSGM) will report its financial results for Q4 and the fiscal year ending December 31, 2021, on March 30, 2022, after the market closes. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results. The company, known for its official licensing and game development across multiple platforms, is engaged in esports and racing game publishing, partnering with series like NASCAR and Formula E.
Motorsport Games (NASDAQ: MSGM) announced an update for NASCAR 21: Ignition, introducing NASCAR’s Next Gen car, available from February 17, 2022. This update coincides with the upcoming Daytona 500 race on February 20, 2022. Players can experience the new car in a Test Drive mode on all platforms. Additionally, there will be a Free Play Weekend on Xbox from February 17-20, 2022. Live Fast Motorsports will showcase a Motorsport Games-themed paint scheme during the Daytona weekend, marking the start of their second partnership year.
Adam Breeden, known for his success in competitive socialising, has announced an ambitious project to launch immersive F1 racing simulation experiences through a global partnership with Formula 1. This venture will see up to 30 venues worldwide over five years, starting with a location in London by Q4 2022. Kindred Concepts, Breeden's new company, aims to offer top-notch hospitality and entertainment using advanced racing simulators developed in collaboration with Motorsport Games, enhancing the F1 experience for fans and newcomers alike.
Motorsport Games (NASDAQ: MSGM) has announced the release of its first quarterly rFactor 2 content update for 2022. This update features new tracks and car chassis, enhancing user experience with a refreshed interface. The updates aim to improve the rFactor 2 simulation platform, which is being integrated into live esports events. The company plans to continue releasing quarterly updates throughout 2022, set for May, August, and November. This ongoing commitment is expected to elevate Motorsport Games offerings, keeping it competitive in the racing game market.
Motorsport Games (NASDAQ: MSGM) announces its inaugural virtual esports event, the 2022 INDYCAR-Motorsport Games Pro Challenge, set for February 9, 2022. This follows their exclusive partnership with INDYCAR established in July 2021. The event features top NTT INDYCAR SERIES drivers, including reigning champion Alex Palou. Viewers can tune in at 6 p.m. EST, with races featuring various heats and a charity prize pool totaling $23,500. Additionally, a new INDYCAR game is expected to launch in 2023, marking a significant milestone for fans of motorsport gaming.
Motorsport Games Inc. (NASDAQ: MSGM) has officially launched KartKraft, a highly-anticipated kart racing simulator on PC via Steam, after being in 'Early Access' since November 2018. The full release introduces online multiplayer, enhanced customization with 8 licensed manufacturers, and 7 laser-scanned circuits, including Whilton Mill. Developed by Motorsport Games Australia, the game aims to continually evolve with further updates. Priced at $39.99, KartKraft marks a significant milestone in Motorsport Games’ aggressive growth strategy in the racing game sector.
The 2021-22 Le Mans Virtual Series concluded with over 81 million viewers, showcasing its popularity in esports. Held on January 15-16, 2022, the event featured 50 cars and 200 drivers from 39 countries, including racing icons like Max Verstappen. The competition saw significant digital engagement, with 360,000 hours of content consumed and 30.2 million social media impressions. The winning team, Realteam Hydrogen Redline, completed 407 laps. This success reaffirms Le Mans Virtual Series' position as a leader in esports and sim racing.
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