The Esports Advocate
Esports business news: deals, legal, and governance.
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GGTech Entertainment Secures $12.4M USD Investment
GGTech Entertainment, a Spain-based organizer of multilingual esports events and tournaments, has secured $12.4 million USD in new funding.
- GGTech Entertainment, a Spain-based esports organizer, has secured $12.4 million USD in funding from growth equity firm Glisco Partners and investment firm Heart Beat.
- The primary strategic goal for the new capital is to facilitate GGTech’s expansion into the United States market.
- GGTech plans to leverage its existing content production studios in Mexico and Spain to service the growing U.S. esports sector.
Guild Esports Raises Nearly $800K Through a Public Placement
Guild Esports, a London-based, publicly traded esports organization, successfully raised approximately £622,200 ($792,600 USD) through a public share placement.
- Guild Esports raised £622,200 ($792,600 USD) through a public placement of 103,700,000 new ordinary shares at a price of £0.006 per share.
- The company plans to use the net proceeds for general working capital and to fund the development of a professional sim racing team roster.
- Guild Esports directors and executive management contributed £100,000 to the placement by subscribing for 16,666,666 new shares.
Mastercard Extends Riot Games Relationship to Valorant Champions Tour
Mastercard has officially expanded its long-standing partnership with Riot Games to include the Valorant Champions Tour (VCT).
- Mastercard has expanded its global partnership with Riot Games to include the Valorant Champions Tour (VCT).
- The sponsorship will debut at the Valorant Champions 2023 tournament in Los Angeles this August.
- Mastercard’s activation strategy for VCT will mirror its existing model for League of Legends, featuring brand integration and broadcast presence.
History Lesson: Mogul Games Group Turning the Page on Esports
Mogul Games Group, formerly an Australian esports tournament platform provider, has officially abandoned the gaming industry to return to its original focus on mining and resource exploration.
- Mogul Games Group is exiting the esports industry after failing to record a profit, resulting in a total lifetime loss of approximately $38.31M USD ($55.95M AUD) since its 2016 inception.
- The company is pivoting back to its origins as a mining firm, rebranding as Lithium Galaxy Limited to pursue lithium and rare earth exploration projects in Canada and Australia.
- Throughout its esports tenure, the company struggled to maintain proprietary technology, relying on third-party platforms like Esports Hero, Challengeme Esports, and Razer Arena to power its tournament operations.
Back to the Mines: Mogul Games Group Will Become Galaxy Resources Limited
Mogul Games Group, an Australian-based esports entity, has announced a strategic pivot back to its original business focus of mining and mineral exploration.
- Mogul Games Group (MGG) is pivoting away from the esports industry to return to its original focus on mining and mineral exploration, rebranding as Lithium Galaxy Limited.
- The company has entered a binding agreement to acquire lithium and rare earth exploration projects located in Australia and Canada.
- Mogul Games Group failed to record a profit since its inception in 2015, accumulating a total lifetime loss of $35 million AUD despite multiple capital raises and an IPO on the Australian Securities Exchange.
PSG Talon Partners With AMD
In June 2023, the professional esports organization PSG Talon entered into a strategic sponsorship agreement with hardware manufacturer AMD.
- Esports organization PSG Talon has entered into a sponsorship agreement with hardware manufacturer AMD, marking a rare move for AMD as it typically does not sponsor individual esports organizations.
- Under the terms of the deal, PSG Talon will utilize PCs equipped with AMD’s Ryzen 9 7950X3D desktop processor for its operations.
- The partnership includes promotional obligations for PSG Talon, which will feature AMD branding on its team jerseys and integrate the company into its social media and marketing campaigns.
M.O.B.A. Network Acquires Wargraphs
Sweden-based M.O.B.A. Network AB finalized the acquisition of the French in-game application developer Wargraphs on May 30, 2023.
- Sweden-based M.O.B.A. Network AB acquired Wargraphs, a French in-game application developer, for $54 million USD on May 30, 2023.
- The acquisition deal structure includes an upfront payment of 50% of the total value, with the remaining balance contingent upon meeting specific financial and growth milestones.
- Wargraphs is a one-man operation founded by Jean-Nicolas Mastin that utilizes the Overwolf platform to provide data and statistics for titles including League of Legends, Teamfight Tactics, and Legends of Runeterra.
Clarks Sponsors League of Legends Pro League Team LNG
The British footwear brand Clarks has entered into a strategic partnership with the Chinese esports organization LNG, which competes in the League of Legends Pro League.
- British footwear brand Clarks has entered into a strategic partnership with the Chinese League of Legends Pro League (LPL) team LNG.
- The sponsorship deal involves placing the Clarks logo on the left shoulder of the LNG team jerseys, though players will not wear the brand's shoes during competition.
- Both LNG and Clarks share common ownership under the Li-Ning Group, which acquired a controlling stake in Clarks through the China Viva Group in July 2022.
Don “SyykoNT” Muir Joins M80 as VP of Esports
The North American esports organization M80 has appointed Don “SyykoNT” Muir as its new Vice President of Esports.
- Don “SyykoNT” Muir, former head coach for Sentinels and XSET, has been appointed as the new Vice President of Esports at M80.
- Muir’s primary mandate at M80 is to oversee the organization’s Valorant roster and lead the strategic expansion into new esports titles.
- M80’s Valorant team is scheduled to compete in the Americas Valorant Challengers Ascension tournament in Brazil on June 30, 2023, to vie for a spot in the 2024 and 2025 Valorant Champions Tour.
LVMH Partners With Epic Games to Create Digital Experiences
LVMH Moët Hennessy Louis Vuitton has entered into a strategic partnership with Epic Games to integrate advanced 3D technology into its luxury brand experiences.
- LVMH has entered a strategic partnership with Epic Games to utilize 3D creation tools, including Unreal Engine 5, Reality Capture, Twinmotion, and MetaHuman technology, for digital customer experiences.
- The collaboration aims to develop virtual fitting rooms, 360-degree product carousels, augmented reality, and digital twins for LVMH brands.
- Louis Vuitton debuted a 'Digital Show Experience' at the 2023 Viva Technology show in Paris, featuring an interactive recreation of its 2023 Fall-Winter Men’s fashion show.
TECNO Mobile Named Title Sponsor of Skyesports Champions Series
Smartphone manufacturer TECNO Mobile has secured the title sponsorship for the Skyesports Champions Series, a prominent esports tournament focused on the mobile title Battlegrounds Mobile India (BGMI).
- TECNO Mobile has been named the title sponsor for the Skyesports Champions Series (SCS), a 10-day tournament featuring Battlegrounds Mobile India (BGMI).
- The tournament features a total prize pool of Rs. 25,00,000, equivalent to approximately $30,500 USD.
- The competition involves 16 finalist teams, including organizations such as Team Soul, GodLike Esports, Revenant Esports, and Orangutan Gaming.
QLASH Partners With Kia Italy for Circuito Tormenta
The Italian esports organization QLASH has secured a partnership with Kia Italy to serve as a title sponsor for Circuito Tormenta, a grassroots League of Legends tournament series.
- Kia Italy has become an official sponsor of Circuito Tormenta, a grassroots League of Legends tournament operated by the Italian esports organization QLASH.
- As part of the partnership, Kia Italy will host three specific Circuito Tormenta events at the Kia Energy House in Rome.
- The sponsorship agreement includes prominent branding for Kia across the tournament’s social media channels and at live event venues.