Latest news with #MotorsportGames
Yahoo
22-05-2025
- Business
- Yahoo
PRISM MarketView Launches Emerging Sports Index
Emerging sports companies are reshaping the industry through innovation in team ownership, media, data analytics, and the expanding legal sports betting market NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- PRISM MarketView, a leading provider of unbiased market insight and company news, today announces the launch of its PRISM Emerging Sports Index in response to significant global growth and transformation in the sports industry. The new PRISM index tracks emerging companies elevating the industry through professional sports teams, sports media platforms, athletics data or analytics solutions, and legal sports betting or fantasy sports services. Analysts project that by 2028 the global sports market could reach over $680 billion and is expected to grow at a compound annual growth rate of 9.13% between 2022 and global sports industry is undergoing a transformation driven by digital engagement, data analytics, and the rapid growth of legal sports betting. From traditional team ownership and franchise operations to cutting-edge betting platforms and fan engagement technologies, the business of sports is becoming more dynamic. PRISM MarketView reviewed a selection of the companies set to transform the sports landscape for the next several years. Motorsport Games Inc. Motorsport Games (Nasdaq: MSGM) blends cutting-edge racing video games with dynamic esports competitions and content, delivering immersive experiences for racing enthusiasts and gamers worldwide. Most recently the company reported its first quarter financials posting net income of $1.0 million for Q1 2025, a significant improvement from a $1.7 million loss in Q1 2024, driven by reduced operating expenses and gains from settlements. The company raised $2.5 million in a private placement led by VR company Pimax and saw momentum from its Le Mans Ultimate title, with a major update planned for June. Despite improved financials and increased cash reserves, Motorsport Games continues to explore strategic options and cost-cutting initiatives to address ongoing liquidity challenges. SharpLink Gaming Inc. SharpLink Gaming, Inc. (Nasdaq: SBET) is an online performance marketing company specializing in the sports betting and iGaming industries. The company connects sports fans with licensed sportsbook and casino operators through targeted affiliate marketing strategies, utilizing state-specific web domains and advanced analytics to drive user engagement and conversions. Most recently, SharpLink priced a public offering of up to 1,530,612 shares of common stock at $2.94 per share, expecting to raise approximately $4.5 million in gross proceeds. The proceeds are intended for working capital, general corporate purposes, and other uses outlined in the filed prospectus. Sportsman's Warehouse Holdings, Inc. Sportsman's Warehouse Holdings (Nasdaq: SPWH) is a leading U.S.-based outdoor sporting goods retailer specializing in gear and apparel for hunting, fishing, camping, shooting, and other outdoor activities and sports. Founded in 1986 the company operates over 140 stores across more than 30 states, complemented by a robust e-commerce platform. Most recently the company announced Susan Sanderson as its Chief Marketing Officer, recognizing her pivotal role in driving recent business improvements since joining in July 2024. With over 20 years of experience in omni-channel retail and turnarounds, Sanderson is expected to lead the company's next phase of growth by sharpening brand strategy and enhancing customer engagement. CEO Paul Stone praised her transformative leadership and speed in elevating marketing and e-commerce operations, which have already contributed to the company's momentum. About PRISM MarketView:Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at and follow us on X. PRISM MarketView does not provide investment advice. Contact:PRISM MarketViewinfo@ A photo accompanying this announcement is available at in to access your portfolio
Yahoo
06-05-2025
- Automotive
- Yahoo
Motorsport Games to Report First Quarter 2025 Financial Results
Motorsport Games Inc. Motorsport Games to Report First Quarter 2025 Financial Results Motorsport Games is set to report their Q1 2025 Financial Results on Friday 9th May 2025 MIAMI, May 06, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company'), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the first quarter of 2025 on Friday, May 9, 2025 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at under 'Events.' This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call may also be accessed live by dialing 1-800-267-6316 or 1-203-518-9783 and using Conference ID 'MOTOR'. About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: . Website and Social Media Disclosure : Investors and others should note that the Company announces material financial information to its investors using its investor relations website ( SEC filings, press releases, public conference calls and webcasts. The Company uses these channels, as well as social media and blogs, to communicate with its investors and the public about the Company and its products. It is possible that the information the Company posts on its websites, social media and blogs could be deemed to be material information. Therefore, the Company encourages investors, the media and others interested in the Company to review the information it posts on the websites, social media channels and blogs, including the following (which list the Company will update from time to time on its investor relations website):
Yahoo
18-04-2025
- Automotive
- Yahoo
Motorsport Games Stock Jumps 146% After $2.5 Million Investment Led by Pimax
Motorsport Games (MSGM, Financials) shares surged 145.5% to close at $2.75 on April 17 at 5:08 p.m. ET, before falling 4.39% to $2.63 in after-hours trading, following the company's announcement that it raised approximately $2.5 million through a private placement led by virtual reality company Pimax, according to a statement from Motorsport Games. Warning! GuruFocus has detected 4 Warning Signs with MSGM. The company, which develops racing simulation games including Le Mans Ultimate, entered into a definitive agreement on April 11 with institutional and accredited investors, including an affiliate of Pimax Innovation Inc., to issue nearly 1.9 million shares of Class A common stock and a pre-funded warrant to purchase up to about 378,000 additional shares. The shares were priced at $1.10 each, while the pre-funded warrants carried an exercise price of $0.0001 per share. Motorsport Games said the offering represented a 33% premium over its April 10 closing price. The company closed on $2.4 million of the transaction on April 11, with an additional $100,000 expected to close on April 15. The proceeds are intended to bolster working capital, fund corporate expenses, accelerate product development, and help the company regain compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement. As part of the agreement, investors who purchased at least 50.1% of the securities will have the right to appoint a Class II director to Motorsport Games' board, with a term ending at the 2026 annual meeting. They will also have the right to appoint an individual to the management team, subject to board approval. Motorsport Games Chief Executive Officer Stephen Hood said in the statement that the investment, made at a premium, could boost shareholder confidence. He added that synergies with Pimax could improve the virtual reality offerings of Motorsport Games' racing titles. Pimax Founder and Chairman Robin Weng said sim racing players are a vital part of the company's community and that Pimax plans to deepen its focus on immersive virtual reality experiences for this user base. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
14-03-2025
- Automotive
- Yahoo
Motorsport Games to Report Fourth Quarter and Full Year 2024 Financial Results
Motorsport Games to Report Fourth Quarter and Full Year 2024 Financial Results MIAMI, March 14, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company'), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the fourth quarter and full year 2024 fiscal year on Thursday, March 20, 2025 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at under 'Events.' This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call may also be accessed live by dialing 1-800-267-6316 or 1-203-518-9783 and using Conference ID 'MOTOR'. About Motorsport Games:Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Website and Social Media Disclosure: Investors and others should note that the Company announces material financial information to its investors using its investor relations website ( SEC filings, press releases, public conference calls and webcasts. The Company uses these channels, as well as social media and blogs, to communicate with its investors and the public about the Company and its products. It is possible that the information the Company posts on its websites, social media and blogs could be deemed to be material information. Therefore, the Company encourages investors, the media and others interested in the Company to review the information it posts on the websites, social media channels and blogs, including the following (which list the Company will update from time to time on its investor relations website): Websites Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport GamesThe contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts:Investors:investors@ Media:pr@ A photo accompanying this announcement is available at
Yahoo
07-03-2025
- Automotive
- Yahoo
Motorsport Games Inc. Announces Summary Judgment in its Favor in Dispute with Innovate 2 Corp
MSGM Summary Judgement in Dispute with Innovate 2 Corp MIAMI, March 07, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM), a racing game developer and publisher, announces that on February 26, 2025, the U.S. District Court for the District of Delaware (the 'Court') granted the summary judgment motion in favor of Motorsport Games Inc. (the 'Company') and the other defendants, the Company's former Chief Executive Officer and Executive Chairman, the Company's former Chief Financial Officer, and the Manager of Driven Lifestyle Group LLC., in the case titled Innovate 2 Corp., Motorsport Games Inc., et al., No. 1:21-cv-165-SB. The judgment entered by the Court held in favor of the Company and the other defendants on all counts and granted the Company summary judgment against Innovate 2 Corp. on the Company's claim for breach of the stock purchase agreement entered into between the parties. The Court ordered the parties to submit a joint status report on March 12, 2025 regarding the remaining issues in the case, including Motorsport's damages on its counterclaim. Stephen Hood, President and Chief Executive Officer of Motorsport Games Inc. commented, 'It is pleasing to receive this judgement from the Court in this matter. The Company and its former representatives have always maintained they acted in good faith and the Judge's ruling supports this.' 'Our restructured Company is pleased to put this matter behind us and continue to focus on making great racing game experiences, such as Le Mans Ultimate, as we continue to build on its promising foundation.' About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Forward-Looking Statements Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as 'continue,' 'will,' 'may,' 'could,' 'should,' 'expect,' 'expected,' 'plans,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the statements concerning making great racing game experiences, continuing to build on Le Mans Ultimate's promising foundation and making racing games that are authentically close to reality. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation, the ability to make racing games that are authentically close to reality. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games' filings with the Securities and Exchange Commission (the 'SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 312023, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games' plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games' website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release. Website and Social Media Disclosure Investors and others should note that we announce material financial information to our investors using our investor relations website ( SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website): Website Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport Games The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts: Investors: Investors@ Media: PR@ A photo accompanying this announcement is available at in to access your portfolio
