Ferrari Signs a Partnership With VGW

Rhea-AI Summary

Ferrari N.V. (NYSE: RACE) has announced a multi-year partnership with Virtual Gaming Worlds (VGW), starting at the first Formula 1 Grand Prix in Bahrain from March 3-5, 2023. VGW will serve as a Premium Partner of Scuderia Ferrari, enhancing the team's engagement with fans through innovative gaming experiences. Lorenzo Giorgetti, Ferrari's Chief Racing Revenue Officer, expressed enthusiasm for the collaboration, highlighting the shared values of innovation and passion. VGW's CEO, Laurence Escalante, noted the significance of Ferrari as an iconic brand in motorsport, recognizing F1's growing popularity, particularly in the US.

Positive

• Multi-year partnership with VGW expected to enhance brand presence.
• Collaboration likely to attract a younger demographic through innovative social gaming experiences.
• VGW's expertise in gaming may lead to increased fan engagement and brand loyalty.

Negative

• None.

Maranello (Italy), 2 March 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari”) announces that Ferrari S.p.A., its wholly-owned Italian subsidiary, has signed a multi-year partnership agreement with Virtual Gaming Worlds (VGW), a global technology Company that specializes in the creation of cutting-edge online social games.

Under the new multi-year agreement, effective from the first Formula 1 Grand Prix of the season in Bahrain (3-5 March 2023), VGW will become Premium Partner of Scuderia Ferrari.  

Ferrari Chief Racing Revenue Officer, Lorenzo Giorgetti, said: “We are pleased to announce the arrival of VGW as a Premium Partner. As leaders in the gaming technology sector, they share our passion for innovation and thinking outside the box. We look forward to working with them in offering new assets and experiences to our loyal and passionate tifosi.”

"We are excited to partner with Ferrari, one of the world’s most iconic global brands. With such a rich history, success in motorsport and a brand synonymous with winning, achievement, passion and luxury, we look forward to working together and our next chapter of growth," VGW founder, Chairman and CEO Laurence Escalante said. “F1 is a truly global sport with massive reach that has experienced amazing growth in recent years, particularly in the US, and there’s no bigger brand than Ferrari. We may operate in different industries, but share similar beliefs when it comes to the power of technology and teams for performance, and the role of passion that unites us all.”

Attachment

• PR_VGW Partner_ENG

FAQ

What is the partnership between Ferrari and VGW about?

Ferrari has signed a multi-year partnership with Virtual Gaming Worlds (VGW) to become a Premium Partner of Scuderia Ferrari, focusing on innovative gaming experiences.

When does the Ferrari and VGW partnership start?

The partnership begins at the first Formula 1 Grand Prix in Bahrain from March 3-5, 2023.

What are the expected benefits of the Ferrari and VGW partnership?

The partnership is expected to enhance brand presence, attract a younger audience, and increase fan engagement.

Who is the CEO of VGW?

Laurence Escalante is the founder, Chairman, and CEO of Virtual Gaming Worlds.

How will the partnership with VGW benefit Ferrari's fans?

The collaboration aims to offer new assets and experiences to Ferrari's loyal fans, enhancing their engagement through gaming.