PALM BEACH, Fla., Feb. 22, 2021
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., Feb. 22, 2021 /PRNewswire/ -- Video games are a billion-dollar business and have been for many years, and is predicted to continue to grow significantly in the years to come. A video game is an electronic game that can be played on a computing device, such as a personal computer, gaming console or mobile phone. Depending on the platform, video games can be subcategorized into computer games and console games. In recent years, however, the emergence of social networks, smartphones and tablets introduced new categories such as mobile and social games. Video games have come a long way since the first games emerged in the 1970s. Today's video games offer photorealistic graphics and simulate reality to a degree which is astonishing in many cases. A report from Statista said that: "In 2020, the revenue from the worldwide PC gaming market was estimated at almost 37 billion U.S. dollars, while the mobile gaming market generated an estimated income of over 77 billion U.S. dollars (a $114 Billion total). What is significant nowadays is that the first generation of gamers is now grown up and has significant spending power at its disposal. Despite the high average daily time playing games among kids, the hobby can no longer be considered solely child's play. In fact, it was found that video gaming is gaining popularity among parents across the world as well, with a fairly even split in terms of the gender distribution of video gaming parents worldwide." Active tech companies in the markets this week include Planet Ventures Inc. (OTCPK: PNXPF) (TSX-V: PXI), DraftKings Inc. (NASDAQ: DKNG), Activision Blizzard, Inc. (NASDAQ: ATVI), Electronic Arts Inc. (NASDAQ: EA), Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
Another report from Grand View Research said that: "The global video game market size was valued at USD 151.06 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.9% from 2020 to 2027. Technological proliferation and innovation in both hardware and software are expected to be the key factors driving the growth. The growing penetration of internet services coupled with the easy availability and access of games on the internet across the globe is also expected to keep the market growth prospects upbeat in the forthcoming years. Game developers are also constantly improvising and pushing the technological limits regarding the real-time rendering of graphics in the video game industry, which is further expected to propel the growth."
Planet Ventures Inc. (TSX-V: PXI) (OTCPK: PNXPF) BREAKING NEWS: Planet Ventures' Subsidiary, 1st11, Announces Equity Investment and Strategic Partnership with Final Level Brazil - Latin America's Number One Gaming and Entertainment Platform – Planet Ventures ("Planet" or the "Company") is pleased to announce that its wholly owned subsidiary, 1st11 Limited ("1st11"), has entered into a strategic partnership agreement (the "Agreement") with Final Level LLC ("Final Level") - Latin America's Number One Gaming Entertainment Platform.
The Agreement states that 1st11 will acquire an initial 5% equity stake in Final Level. As consideration, Final Level will obtain the right to acquire $300,000 worth of share purchase warrants of Planet at a price of $0.40 cents for each share warrant granted. Final Level will also receive 230,116 shares in Planet, which will be restricted for a period as determined under TSX Venture Exchange rules. The Agreement also provides 1st11 with a further option to acquire an additional 5% of Final Level's fully diluted share capital on or before September 2021, on the same terms. An integral and important part of the equity investment will partner with Final Level to create a marketing plan which will allow 1st11 primary access to all of Final Level's online media assets, to support an advanced marketing and media campaign throughout 2021, 2022 and 2023. Final Level raised $1.58 million US, 1st11 was a lead investor alongside Atmos Capital, Outfield Capital, and Kaducaio Holdings. Final Level owns esports organization Game-landers fielding one of the top Valorant rosters in Brazil and 13th in the world rankings and a Youtube channel that receives over half a billion monthly views.
Flavio Maria 1st11's COO, Founder and Head of Operations in Brazil commented: "by coming together and making an investment in Final Level is a considerable statement and a momentous incentive for our plans over the next 5 years."
Peter Glancy, 1st11's CEO, endorsed Mr. Maria's comments and stated: "It's a decisive move and a substantial commitment for both companies and clearly demonstrates our ambitions by aligning with Final Level. The Agreement is a game changer, providing phenomenal access to one of the world's biggest gaming markets and fits with our objective to become the biggest video game centric entertainment platform in Latin America. By joining forces with Final Level by-way of an equity investment substantially elevates both companies to the highest echelon of online entertainment and is a key component to assembling a passionate gaming consumer and subscriber base in Brazil and across Latin America."
1st11 will fully support Final Level with unique interactive challenges, underpinned by its consumer facing gaming assets as well as sharing access to their proprietary technology and influencer platform. Within 1st11's Creator Network there are over 500 professional athletes who are already signed, offering star-studded talent a seamless and easy way to engage in gaming content fully supported by our advanced influencer analytics, consumer data and reporting capabilities. Read this full release and more news for Planet Ventures Inc. at: https://planetventuresinc.com/press-releases/
In other gaming news:
Electronic Arts Inc. (NASDAQ: EA) and Velan Studios recently unveiled Knockout City, an action-packed team-based multiplayer game that brings skill, depth and style to the game of dodgeball, and transforms it into dodgeBRAWL! In Knockout City, intense battles are a way of life and players will need to master the art of throwing, catching, passing and dodging in a joyful, yet highly competitive experience that will smack them in the face with surprises. Knockout City, the newest game under the EA Originals label, will be available on May 21, 2021 on PlayStation®4, Xbox One, Nintendo Switch, PC via Origin™ and Steam, as well as PlayStation 5 and Xbox Series X|S through backwards compatibility with graphical and performance enhancements. The game will also support cross-play and cross-progression across all systems.
"At Velan we obsess over finding new play experiences," said Karthik Bala, Co-founder and CEO of Velan Studios. "Knockout Citystarts with the deceptively simple concept of throwing and catching a ball and layers in an incredible amount of skill, depth and style, for a refreshingly fun competitive multiplayer experience that you have to play to believe. It ain't just dodgeball, it's dodgeBRAWL. Since we first found that magic in the game, we haven't been able to stop playing and we can't wait to share that experience with some of you during this weekend's first closed beta."
Activision Blizzard, Inc. (NASDAQ: ATVI) recently announced fourth-quarter 2020 results. "In a year filled with adversity our extraordinary employees were determined to provide connection and joy to our 400 million players around the world," said Bobby Kotick, CEO of Activision Blizzard. "They accomplished this as well as generating record financial results for our shareholders. Under difficult circumstances, but with the same conviction and focus, they will continue to do so in 2021."
For the year ended December 31, 2020, Activision Blizzard's net revenues presented in accordance with GAAP were $8.09 billion, as compared with $6.49 billion for 2019. GAAP net revenues from digital channels were $6.66 billion. GAAP operating margin was 34%. GAAP earnings per diluted share were $2.82, as compared with $1.95 for 2019. On a non-GAAP basis, Activision Blizzard's operating margin was 39% and earnings per diluted share were $3.21, as compared with $2.31 for 2019.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) recently reported strong results for its fiscal third quarter 2021 ended December 31, 2020. In addition, the Company provided its initial outlook for its fiscal fourth quarter ending March 31, 2021 and again increased its outlook for the fiscal year 2021, ending March 31, 2021. For additional information, please see the fiscal third quarter 2021 results slide deck posted to the Company's investor relations website at http://ir.take2games.com .
DraftKings Inc. (Nasdaq: DKNG) a leader in the digital sports entertainment and gaming industry known for its top-rated daily fantasy sports and mobile sports betting apps and the National Football League (NFL) recently announced that Jennifer Aguiar, CRP, CRCM, CAMS, CIPP/US, has been named the company's Chief Compliance Officer, an executive level position that reports directly to Jason Robins, DraftKings' co-founder, CEO and Chairman. Previously, Aguiar served as the company's Vice President, Compliance and Risk, reporting into Tim Dent. Dent, who joined DraftKings in 2013, most recently served as the Chief Compliance Officer in addition to numerous other leadership positions related to compliance, finance, legal and regulatory matters. He will be moving into the position of Senior Vice President, Regulatory Operations, and will continue to manage the company's relationships with regulatory authorities before transitioning to a consultant role later in 2021.
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