Latest news with #strategicmove
Arabian Business
2 hours ago
- Business
- Arabian Business
EXCLUSIVE: Gaming industry faces risk of ‘burning out' without Saudi-style infrastructure, says ESL FACEIT CEO
In the rapidly evolving world of competitive gaming, few moves have been as strategically significant as ESL FACEIT Group's establishment of operations in Saudi Arabia. As the esports industry grapples with sustainability challenges and seeks new growth markets, the Kingdom has emerged as a leader actively shaping the future of esports. 'Saudi Arabia has moved beyond participating in the industry, it is actively shaping and leading its future,' said Niccolo Maisto, CEO of ESL FACEIT Group (EFG), in an exclusive interview with Arabian Business. 'EFG's presence in Saudi Arabia is both a reflection of this momentum and a catalyst for further growth.' Building a global gaming hub The Kingdom's approach is in contrast to the gaming industry's boom-bust cycles, with investments focused on long-term ecosystem development rather than a short-term spectacle. EFG, formed through the merger of ESL and FACEIT under Saudi Arabia's Savy Games Group, has established a regional headquarters and broadcast hub in the Kingdom as part of this strategy. 'Saudi Arabia has emerged as one of the most influential players in the gaming and esports industry, driven by its rapid growth and significant investments in community development and education,' Maisto said. The Kingdom's National Games & Esports Strategy targets 39,000 new jobs and a SAR 50 billion ($13.3 billion) GDP contribution by 2030. While other markets have focused on individual tournaments or team acquisitions, Saudi is building a foundational infrastructure for the sector. EFG is localising platforms like FACEIT and Mobalytics for Arabic-speaking audiences, hosting domestic competitions and recruiting extensively across functions to establish what Maisto calls a 'meaningful long-term presence.' 'We're not just delivering world-class experiences, we're contributing to the transformative vision of the Kingdom,' Maisto said. 'Our efforts align well with its broader goals of economic diversification and youth empowerment, helping to build a sustainable ecosystem that nurtures talent, inspires innovation, and positions the Kingdom as a global hub for gaming and esports.' The strategy addresses persistent challenges in the esports industry, where unsustainable growth models have led to high-profile failures. 'The biggest risk over the next five years is failing to build sustainable sports ecosystems,' Maisto warned. 'Without long-term support for players, teams and tournament organisers, we risk burning out the very foundation of the scene.' The acquisition of ESL and FACEIT by Savvy Games Group, under the Public Investment Fund (PIF), valued the combined entity at over $1 billion and marked what industry observers consider a watershed moment for esports legitimacy. 'It underscored the growing recognition of esports as a mainstream form of entertainment and a key driver of cultural and economic growth globally,' Maisto said of the transaction, which he led from the FACEIT side. Traditional media and investors have historically viewed esports as a niche market focused on tournament prize pools and viewership metrics. Maisto disputes this characterisation, 'In reality, esports is a thriving, multifaceted ecosystem, encompassing content creation, digital communities, live events, and cultural influence.' With 640 million fans worldwide, the sector presents opportunities for sustained engagement that extend beyond competition formats, according to industry data. Geopolitical implications Saudi Arabia's systematic approach to esports development is reshaping global industry dynamics, with the Kingdom moving from participant to agenda-setter. EFG's regional operations support both localised content creation and international events like the Esports World Cup, creating pathways for Saudi talent to compete globally while positioning the Kingdom as a convergence point for international publishers and brands. 'By investing heavily in infrastructure, talent development and international events through initiatives like Vision 2030 and a dedicated national gaming and esports strategy, Saudi Arabia has moved beyond participating in the industry, it is actively shaping and leading its future,' Maisto said. The company is exploring opportunities to develop Saudi-born esports intellectual property, building on the success of localised tournaments like the ESL Saudi Challenge. 'Saudi Arabia is already home to some of the most passionate gamers and talented players in the world, so it's only natural for us to explore ways to develop esports initiatives that are born from this vibrant community,' Maisto explained. For investors considering esports exposure, Maisto asserts the sector's infrastructure requirements and long-term growth trajectory. 'The truth is, esports isn't a short-term play, it's an infrastructure- and IP-driven industry with the potential to become one of the defining pillars of global entertainment,' he said. 'Those who recognise this transformation and invest with a long-term view are already seeing the upside.' 'Esports won't thrive on hype alone. We need to build systems that support lasting careers, thriving communities, and business models that work for everyone in the ecosystem,' Maisto concluded.
Yahoo
13-08-2025
- Business
- Yahoo
Will Opendoor's Agent-Led Model Drive a 2026 Revenue Rebound?
Opendoor Technologies Inc. OPEN has shifted its focus to a more agent-led model from the capital-intensive model, and is witnessing substantial returns from this strategic move. Its agent-led model determines the direct connection of agents with sellers for the better integration of offers and listing options. Piloted in selected markets in the first quarter of 2025, this new model has resulted in five times more listing conversion rates, with customers reaching double the time of the final underwritten cash offer (all-cash proposal made directly to the homebuyer) compared with OPEN's traditional to the robust acceptance of this new agent-led model, Opendoor could exercise this initiative throughout all the markets it operates in as of the second quarter of 2025. Besides, during the second quarter, the company highlighted its optimization phase regarding the agent-led model, which will include more agent collaboration, enhanced tools, better training processes and more product offerings. On July 15, 2025, OPEN launched its Key Agent iOS app to enable agents to perform high-quality home assessments through phones, resulting in better customer connection and enriching its AI with enhanced Opendoor also launched Cash Plus, a hybrid product designed for sellers in the market to get an understanding of immediate cash offers and prospective profit options. This product is gaining traction upon its launch, and is aimed at diversifying revenues, reducing capital intensity and improving contribution margin company believes that the inputs from the new agent-led initiative are expected to come to light from 2026. As this new initiative scales and reaches full potential amid the expected normalization of the macro risks, Opendoor will be able to realize incremental benefits in the long term. Does Opendoor Face Competition in the Market? Opendoor is focusing on operating through a distinct distributed platform model, and given this approach, it faces substantial competition from other market players, including Offerpad Solutions, Inc. OPAD and Rocket Companies, Inc. engages in buying, renovating and reselling homes, operating as a pure-play iBuyer. However, it has also introduced more flexible seller solutions to reduce balance sheet risk. Through the operation speed, pricing and customer experience factors, Offerpad offers direct competition to Opendoor in the the other hand, Rocket Companies operates through a diversified fintech and consumer homeownership platform. Upon the acquisition of Redfin in March 2025, this company entered into the evolving digital real estate ecosystem. Redfin's inclusion opened doors for Rocket Companies to a strong online marketplace, brokerage network and brand recognition, positioning it as a strong competitor to Opendoor in the market. OPEN Stock's Price Performance & Valuation Trend Shares of this California-based company offering a digital platform for residential real estate transactions have soared 215% in the past three months, significantly outperforming the Zacks Internet - Software industry, the Zacks Computer and Technology sector and the S&P 500 index. Image Source: Zacks Investment Research OPEN stock is currently trading at a discount compared with the industry peers, with a forward 12-month price-to-sales (P/S) ratio of 0.33, as evidenced by the chart below. The discounted valuation of the stock, compared with its peers, advocates for an attractive entry point for investors. Image Source: Zacks Investment Research EPS Trend of Opendoor Opendoor's bottom-line estimates for 2025 have remained unchanged over the past 60 days at a loss per share of 19 cents. Despite indicating losses, the estimated figure for 2025 implies year-over-year growth of 48.7%. Image Source: Zacks Investment Research OPEN stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rocket Companies, Inc. (RKT) : Free Stock Analysis Report Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report Offerpad Solutions Inc. (OPAD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Huqiao Games Establishes New Headquarters in Hong Kong, Appoints John Kavvouras as Managing Director
HONG KONG, July 15, 2025 (GLOBE NEWSWIRE) -- Huqiao Games, a provider of specialized support services for the gaming industry, today announced the opening of its new corporate headquarters in Hong Kong. As part of this strategic move, John Kavvouras has been appointed as Managing Director of the Hong Kong office. "Establishing our headquarters in Hong Kong positions us at the heart of Asia's gaming ecosystem, which is growing significantly faster than Western markets," says John Kavvouras, newly appointed Managing Director. "Hong Kong's proximity to key gaming markets provides the ideal platform to expand our services globally." Mr. Kavvouras brings over 15 years of business experience to his role, with expertise in finance and emerging market development. His knowledge will be instrumental in developing new strategic initiatives to support the evolving needs of the gaming industry. This transition also sees founder Wojtek Jaworski stepping into a new role, focusing on direct engagement with the dynamic Chinese gaming landscape, leveraging his deep understanding to foster innovation and growth. "The future of gaming lies in Asia, where innovative monetization models, a massive user base, and a growing middle class create ideal conditions for growth," explains Mr. Kavvouras. "Our move to Hong Kong is a fundamental redirection of our strategy to better serve clients who are increasingly looking East for growth and inspiration." The new headquarters will serve as the center of Huqiao Games' global operations. The firm plans to expand by recruiting local talent with experience in the Asian gaming market. Furthermore, Huqiao Games is actively seeking strategic partnerships with Chinese institutional investors to capitalize on the burgeoning PC gaming sector and empower Chinese developers to expand their reach globally. About Huqiao Games Founded in 2021, Huqiao Games specializes in helping Western game developers successfully enter Asian markets. The company has assisted over 96 studios from Europe and North America, including partnerships with Owlcat Games and Butterscotch Shenanigans. Media Contact:
