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Motorsport Games Inc. (MSGM)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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23.47-2.41 (-9.31%)
At close: 4:00PM EST
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Previous Close25.88
Open25.51
Bid0.00 x 1200
Ask0.00 x 1300
Day's Range23.01 - 25.90
52 Week Range23.01 - 38.00
Volume68,119
Avg. Volume220,757
Market Cap409.551M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Motorsport Games Enters Into Binding Term Sheet to Acquire Developer Studio397 and its rFactor 2 Simulation Platform
    GlobeNewswire

    Motorsport Games Enters Into Binding Term Sheet to Acquire Developer Studio397 and its rFactor 2 Simulation Platform

    Studio397 brand and name to remain under Motorsport Games banner Updates and iteration of rFactor 2 to continue under Studio397 MIAMI, March 03, 2021 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announced today that it has entered a binding term sheet to acquire Studio397 BV, the company behind the industry leading rFactor 2 racing simulation platform, from Luminis International BV. The acquisition will see Studio397 continue its work on rFactor 2 while also developing the physics and handling models for Motorsport Games’ forthcoming projects. Motorsport Games expects to utilize its resources and expertise to enhance the rFactor 2 offering, especially in areas highlighted by the racing community. Studio397 and Motorsport Games have long worked in tandem, with rFactor 2 providing the simulation platform for the highly successful 24 Hours of Le Mans Virtual race, as well as the Formula E Race at Home Challenge, both of which were operated by Motorsport Games. It is expected that Studio397 will retain its name and branding with the existing development team and management will remain with the studio. “We have been working with the team at Studio397 for a long time on both game development and esports. This is an acquisition that, when completed, makes complete sense for all parties and we are delighted to have them agree to join the Motorsport Games family,” said Stephen Hood, President of Motorsport Games. “Studio397 has a clear passion for virtual racing and together we recognised an opportunity to work as one team to advance the genre to the next level,” continued Hood. “We see this as great news for the sim racing community as we can now leverage the best elements of the rFactor 2 platform, combine it with our foundational use of Unreal Engine (developed by Epic Games) and layer in the additional components our talented teams have spent the last two years developing. Our aim was to start out with a product that had heart and soul. When the planned acquisition is completed, we can operate safe in the knowledge that another piece of an ambitious puzzle has been secured.” “After growing rFactor 2 in the last five years, we are excited to take the next step with Motorsport Games, advancing rFactor 2 and integrating its advanced simulation technology into future projects. We share a common ambition to be the best at what we do,” said Marcel Offermans, Managing Director, Studio397. “This planned acquisition is another clear signal of our intention to establish Motorsport Games as the leader in the virtual racing space. We continue to utilize the capital committed by our shareholders to aggressively pursue our goals,” added Dmitry Kozko, CEO of Motorsport Games. “Securing rFactor 2 and the expertise behind it will be a huge advancement for us. We will bring our experience and knowledge to help maximize the potential of the rFactor 2 platform while also having exclusive access to its best-in-class technology for our future projects.” “The level of simulation and the feeling of driving offered by rFactor 2 is second to none,” shared Fernando Alonso, Motorsport Games shareholder, Alpine Formula 1 driver and two-time Formula 1 World Drivers’ Champion. “I am delighted that Studio397 and rFactor 2 will be joining our Motorsport Games family and I am sure that we will enjoy a great deal of success together.” This latest announcement from Motorsport Games follows a string of exciting developments, including the upcoming acquisition of KartKraft from Black Delta and announcements of forthcoming games based upon the iconic 24 Hours of Le Mans and the British Touring Car Championship, in addition to the company’s existing NASCAR projects. For more information about Motorsport Games visit www.motorsportgames.com and follow our social media channels: Facebook, Twitter and LinkedIn. About Motorsport Games:Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League among others.For more information about Motorsport Games visit: www.motorsportgames.com About Luminis and Studio397Luminis International BV is a software and technology company with offices in the Netherlands and the United Kingdom. Our mission is to create exponential value for organizations by using software technology. With 200 colleagues we work with more than 100 customers, including major brands such as KLM, Nike and Bol.com. Luminis also develops cloud-based data solutions under the brands InformationGrid and MediGrid. In 2016 Luminis founded Studio397, aimed specifically at the professional race simulator market. Forward-Looking StatementsThis press release contains 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. Any statements contained 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. 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, but are not limited to whether to Motorsport Games will be able to negotiate and enter into the definitive agreements with respect to the acquisition of Studio397 and its rFactor 2 platform, whether all conditions precedent in the definitive agreements to acquire Studio397 and its rFactor 2 platform will be satisfied, whether the closing of such acquisition will occur and whether Motorsport Games will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Games’ ability (or inability) to maintain existing, and secure additional, licenses and contracts with the sports series; (ii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Games’ business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Games’ business; (vii) Motorsport Games’ ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent registration statement on Form S-1 and current reports on Form 8-K filed by Motorsport Games with the Securities and Exchange Commission. 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. Press:motorsportgames@astrskpr.com Investors:Ashley DeSimoneAshley.Desimone@icrinc.com

  • Motorsport Games Announces Traxion, the New Online Home for Racing Games and Esports
    GlobeNewswire

    Motorsport Games Announces Traxion, the New Online Home for Racing Games and Esports

    Now live, Traxion is bringing users the latest news, reviews and opinions from the world of virtual racingMIAMI, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, today announced the launch of Traxion.gg, a brand-new content platform dedicated to the world of virtual motorsport and racing games. Traxion is the home for all things virtual racing, bringing users the latest news, reviews, updates, opinions and insights from the racing game world. The new site will cover the complete spectrum of racing games, ranging from hardcore simulation titles to arcade classics and everything in-between. The platform will give users access to the most recognized and respected names in sim racing with a variety of written, video and streamed content in both long and short forms, as well as podcasts and more. Originally codenamed APEX, the addition of Traxion to Motorsports Games adds a third vertical to the company’s product portfolio that will sit alongside the development of racing games and the creation, production and broadcast of genre defining esports. “Motorsport Games has a mission to revolutionize the world of virtual racing and the launch of Traxion is the next step in that process. Traxion will provide the online racing community with the go-to destination for the very best racing game and esports content,” said Dmitry Kozko, CEO of Motorsport Games. “Our parent company, Motorsport Network, possesses unrivalled experience in building communities built upon best-in-class editorial content. We will continue that legacy with Traxion, as this is just the start for the platform, which will continue to grow and evolve in the coming months to become the true online home of racing games.” “Traxion is an extremely exciting platform that sits perfectly at the intersection of motorsport and video games. We will be covering every kind of game in the racing genre and esports space, no matter the age, platform or discipline. We believe that we can make Traxion a highly engaged, positive community that evangelizes about games and online racing in all of its forms,” added Thomas Harrison-Lord, who has joined Traxion as editor. To find out more about Traxion visit traxion.gg and follow Traxion on YouTube, Twitch, Twitter, Facebook and Instagram. About Motorsport Games: Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League among others. For more information about Motorsport Games visit: www.motorsportgames.com Forward-Looking Statements This press release contains 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. Any statements contained 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. 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, but are not limited to whether Traxion platform will be successful and whether Motorsport Games will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Games’ ability (or inability) to maintain existing, and secure additional, licenses and contracts with the sports series; (ii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Games’ business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Games’ business; (vii) Motorsport Games’ ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent registration statement on Form S-1 and current reports on Form 8-K filed by Motorsport Games with the Securities and Exchange Commission. 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. Press:ASTRSK PRmotorsportgames@astrskpr.com Investors:Ashley DeSimoneAshley.Desimone@icrinc.com

  • Motorsport Games Announces Expansion Into Karting
    GlobeNewswire

    Motorsport Games Announces Expansion Into Karting

    Motorsport Games signs binding term sheet with KartKraft to add leading karting simulator IP, assets and key development talent to diversify gaming portfolio; Announces anticipated launch of Motorsport Games Australia studioMIAMI, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, today announced that the company has entered into a binding term sheet to acquire the assets and the business of KartKraft, the highly acclaimed PC kart racing simulator, from developer Black Delta. Under the terms of the binding term sheet, Motorsport Games expects to take ownership of the KartKraft IP as well as all the game assets and code. Additionally, key members of the original development team, including Founder Zach Griffin, are expected to join Motorsport Games to form a new studio called Motorsport Games Australia, under which development of KartKraft will continue. “This upcoming acquisition further demonstrates Motorsport Games’ commitment to the racing game genre and our belief in the future of virtual racing. We are delighted to have the opportunity to add KartKraft and form a new development team within the Motorsport Games family. The level of simulation that the team has created is highly impressive and the best recreation of karting available on the market today. We believe that, by adding our expertise to KartKraft, we will bring the game to the next level, amplifying its success as we help steer the product to full release,” said Stephen Hood, President of Motorsport Games. “Additionally, the new Motorsport Games Australia team will bring additional knowledge and expertise to Motorsport Games, specifically in Epic Games’ trademark game Unreal Engine, as well as vehicle physics and driving simulation. They will play an integral role in the development of our future products and we’re incredibly excited about their future contribution to our talented team.” The planned acquisition of KartKraft is the latest in a line of exciting announcements from Motorsport Games. KartKraft will further expand Motorsport Games’ product portfolio, content development, digital product sales capabilities, and provide an opportunity to expand the company’s esports ecosystem. In addition to the continued development of KartKraft, the new Motorsport Games Australia studio will bring its expertise from the Unreal Engine, developed by Epic Games, and racing simulation to other Motorsport Games licenses including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship. “The planned acquisition of KartKraft represents yet another step in our growth as a leading developer for racing games,” said Dmitry Kozko, CEO of Motorsport Games. “We are aggressively pursuing our growth strategy by putting the committed capital from our shareholders to work. We’re excited to complement our existing franchise developments by adding KartKraft to help grow our development team and product line.” "As a shareholder in Motorsport Games, I’m thrilled that KartKraft is joining us and that we can use our expertise, scope and knowledge to help maximize the impact of this great product,” said Fernando Alonso, Alpine Formula 1 driver, two-time F1 World Drivers’ Champion, two-time 24 Hours of Le Mans Champion and former Karting World Champion. “KartKraft recreates the authentic feel and thrill of kart racing. As a former Karting World Champion and owner of my own karting school, I want people of all ages to be able to experience the joys of karting first-hand. Nearly all the top drivers began their motorsport life in karting and KartKraft is a natural progression for introducing a new generation of drivers to the sport.” KartKraft is currently in Early Access on Steam for PC and its simulator has quickly amassed a cult-like following within the sim-racing community. Upon its full release, it will allow players to build their own karts from the chassis up and race on 10 officially licensed, laser-scanned tracks with 20 official kart manufacturers. For more information about Motorsport Games visit motorsportgames.com and follow our social media channels: Facebook, Twitter and LinkedIn. You can find KartKraft on Facebook and Twitter. About Motorsport Games: Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League among others. For more information about Motorsport Games visit: www.motorsportgames.com Forward-Looking Statements This press release contains 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. Any statements contained 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. 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, but are not limited to, whether to Motorsport Games will be able to negotiate and enter into the definitive agreements with respect to the acquisition of KartKraft, whether all conditions precedent in the definitive agreements to acquire KartKraft will be satisfied, whether the closing of such acquisition will occur and whether Motorsport Games will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Games’ ability (or inability) to maintain existing, and secure additional, licenses and contracts with the sports series; (ii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Games’ business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Games’ business; (vii) Motorsport Games’ ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent registration statement on Form S-1 and current reports on Forms 8-K filed by Motorsport Games with the Securities and Exchange Commission. 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. Investors:Ashley DeSimoneAshley.Desimone@icrinc.com Press: ASTRSK PRmotorsportgames@astrskpr.com