MSM Corporation International Limited (MSMCI) (ASX: MSM) reports that The Riva Group’s subsidiary, Riva Technology and Entertainment Limited (RTE), has entered into an agreement with Galaxy Racer Esports to manage all of their Esports platforms and tournaments.
The Esports industry has experienced a significant boost in user engagement as a result of COVID-19, accelerating what is already a growth industry.
Covered under the agreement between RTE and Galaxy Racer Esports is the management of the Megastar Version 2.0 platform licenced to RTE which will deliver Esports content.
Galaxy Racer Esports is an Esports organisation founded by CEO, Paul Roy and is the organizer of GIRLGAMER Esports Festival established in 2017. Galaxy Racer Esports has a roster of seven teams in CS:GO, League of Legends, Dota2 and PubG Mobile.
The Megastar Version 2.0 platform is planned to deliver a more gamified and interactive experience skill based competition with Esports and mobile gaming under the license agreement executed with RTE in 2019.
Firefly Games Inc. a strategic partner forged through MSMCI’s investment in The Riva Group, successfully completed its global launch of the multiplayer online strategy game, Terminator: Dark Fate.
MSMCI Chairman, Antoine Massad, said that in recent months there has been an unanticipated boom in the gaming industry as COVID-19 has pushed more users online. This has resulted in increased monthly download and revenue figures for the Terminator: Dark Fate game with total downloads approaching half a million with very little marketing spend. as an equity position and secured, first ranking, interest free loan notes in RTE. RTE is a 70% shareholder in J&D Holdings Limited (J&D), which is the sole legal and beneficial owner of Firefly Games.
The company (along with other subscribers of the loan notes) have a priority right to be paid all profits or distributions received by RTE from J&D in repayment of the notes with MSMCI also benefiting from any ongoing distributions post loan repayment as an RTE shareholder.
MSMCI has delivered a robust competition platform in Megastar which is to be optimised following post WWT1 findings around gamification and user interaction. We are delighted to have the team from Galaxy Racer Esports working with RTE on Megastar Version 2.0 which is planned to have a heavy Esports component in terms of content distribution and as a tournament broadcaster,” Mr Massad said.
