GameSquare Forms Strategic Partnership with GGTech Entertainment to Bring Proven Esports and Gaming Events to U.S. Markets
The strategic partnership combines two industry powerhouses that feature global scale, blue-chip customer bases, best-in-class capabilities and industry leading technologies. Under the terms of the agreement, GameSquare will initially license GAMERGY in the U.S. from GGTech. GameSquare will develop and expand GGTech's gaming related events and operations in the U.S., which leverages GAMERGY's more than nine years of history across nine cities and on three continents.
' We are excited to join forces with GGTech ,' stated Justin Kenna, CEO of GameSquare. ' This partnership aligns with our long-term strategy of scaling our growing agency and experience business. By partnering with top-tier brands, gaming communities, and major festivals across the U.S., we have positioned GameSquare as a premier provider of innovative and culturally relevant experiences that resonate with next-gen audiences. We are excited to showcase GameSquare's platform and capabilities to bring GGTech's proven intellectual properties to the U.S .'
GAMERGY 2026 will bring one of the world's largest multicultural esports, gaming and entertainment festivals to Dallas, Texas in March 2026. Dallas has established itself as a top esports destination, home to leading organizations, including GameSquare and FaZe Esports, and North America's largest dedicated esports arena. GameSquare will leverage its full platform of capabilities to provide strategy, event design, talent recommendations, marketing, and operation of GAMERGY 2026. GameSquare will provide additional details on GAMERGY 2026 as the event develops.
GAMERGY is one of the world's largest esports, gaming and entertainment events, tailored for video game enthusiasts of all ages and backgrounds. Since its inception in 2016, GAMERGY has successfully organized over 20 global editions including festivals in Spain, Argentina, Egypt, Panama, El Salvador and Mexico.
' We've partnered with leading esports organizations across the globe to produce GAMERGY that has attracted nearly 200,000 attendees in 2024 and through the first quarter of 2025. As we looked to expand our efforts to the U.S., GameSquare was the logistical choice because of its proven event production, technology solutions and marketing capabilities. This strategic partnership is a win-win for GGTech and GameSquare, as we combine forces to elevate the power of esports and gaming culture. We are excited to work with GameSquare to bring GAMERGY to Dallas in March 2026 ,' stated José Parrilla, GGTech's Global CEO.
In addition to GAMERGY, GameSquare and GGTech expect to bring new experiences to students in the U.S., and GameSquare will work with GGTech's leading University Esports IP. GGTech's Esports has partnered with over 2,000 global universities, 9,000 teams, and 100,000 users to provide gaming experiences for students scaling to meet the demands of global gaming markets. As a result, UNIVERSITY Esports has become one of the top collegiate esports organizations in the world.
GameSquare's expanding events and experiences division is a key pillar of the Company's strategic vision. This division specializes in creating immersive, talent-led, and brand-owned events that connect with audiences through compelling storytelling, digital engagement, and unforgettable in-real-life (IRL) activations. GameSquare is leveraging its momentum, deep industry relationships, and creative capabilities to deliver standout moments for fans and consumers.
GameSquare and GGTech will benefit from partnerships with leading game publishers such as Riot Games, Epic Games, Activision, Electronic Arts (EA), and Capcom. Additionally, select brand partners of the combined company include the NFL, Amazon, Nvidia, Microsoft, Samsung, Intel, Lenovo, Paramount, La Liga, Dairy Max, Jack in the Box, RedBull, Heineken, Rockstar Energy Drink, Logitech, Domino's, and McDonalds.
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Egypt Independent
3 days ago
- Egypt Independent
Elon Musk and Donald Trump are fighting again
CNN — The truce between Elon Musk and President Donald Trump didn't even last a month. After the Senate narrowly passed a procedural vote to debate Trump's 'Big, Beautiful Bill' over the weekend, Musk on Monday said he would use his vast resources to launch primary campaigns against Republicans in Congress who voted for the massive domestic policy agenda. Musk spent much of Monday and early Tuesday morning posting and re-posting messages that criticize the tax cut and spending bill — particularly for its sky-high cost. Trump late Monday night fought back, suggesting his administration may investigate Musk's companies' massive government subsidies. So far, the feud hasn't grown as personal or as vicious as their public blow-up last month when Musk, without providing evidence, accused Trump of withholding information about disgraced financier and convicted pedophile Jeffrey Epstein, and claiming that Trump's name was included in the government's so-called Epstein files. A week after the peak of that feud, Musk said he regretted some of his posts about Trump. Musk deleted some of his most inflammatory X posts, including the one relating to Epstein and another agreeing with the suggestion that Trump should be impeached. Musk had since softened his tone about Trump and the bill, largely shifting his focus on social media and in interviews to his companies. That shifted dramatically Monday when Musk began posting nonstop about his opposition to Trump's signature legislation. But this time around — at least so far — Musk hasn't mentioned Trump's name in his dozens of posts about the bill. Still, the fight is costing Musk where it counts: Tesla's (TSLA) stock tumbled nearly five percent in premarket trading Tuesday after losing 2 percent on Monday, missing out on the broader stock market gains that sent the S&P 500 and Nasdaq to record highs. Much of Musk's wealth is tied up in Tesla's publicly traded stock. Tesla shareholders have been very sensitive to the Musk-Trump spat, nervous that Trump may make good on his threat to dissolve contracts with SpaceX or Tesla. The stock lost about 14 percent on June 4, the day when Musk and Trump's feud over the spending bill erupted into the public. 'This BFF situation has now turned into a soap opera that remains an overhang on Tesla's stock with investors fearing that the Trump Administration will be more hawkish and show scrutiny around Musk-related US government spending,' said Dan Ives, analyst at Wedbush Securities, in a note to investors Tuesday. 'Tesla investors want Musk to focus on driving Tesla and stop this political angle.' Musk goes off Musk's renewed attacks on the bill started Monday afternoon, when he threatened members of Congress who voted for the legislation. He said the bill would undermine his efforts at the Department of Government Efficiency, which sought fiscal responsibility by eliminating what he and others viewed as wasteful spending. But the Senate bill would add nearly $3.3 trillion to the deficit over the next decade, according to a Congressional Budget Office estimate released Sunday. The Senate legislation costs more than the House-approved bill, which would add $2.4 trillion to the deficit over the next decade. The White House has argued the bill 'slashes deficits' and the debt, while 'unleashing economic growth.' Musk wasn't having it. 'Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth,' he wrote on X. He later shared a campaign poster with 'LIAR' written across Pinocchio's face above the text 'Voted to increase America's debt by $5,000,000,000,000.' 'Anyone who campaigned on the PROMISE of REDUCING SPENDING, but continues to vote on the BIGGEST DEBT ceiling increase in HISTORY will see their face on this poster in the primary next year,' Musk wrote. Musk wrote several posts about creating a third party called 'the America Party,' which would serve as a populist alternative to the Republican and Democratic parties. 'If this insane spending bill passes, the America Party will be formed the next day,' Musk said. He also posted that he would contribute to the re-election campaign for Kentucky Rep. Thomas Massie, who has been one of the few Republican voices in Congress to take a stand against the bill. Trump has publicly scolded Massie for his opposition. Trump enters the chat Trump early Tuesday morning responded with a threat: He could use DOGE, which Musk once led, to probe the government contracts and subsidies Musk's companies receive. 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump wrote on Truth Social. 'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!' Trump made a similar suggestion last month. Although it's not clear that Trump would follow through, Musk's companies are reliant on the federal government as a major source of revenue. And Tesla, SpaceX and Musk's other companies, including social media platform X, artificial intelligence company xAI and brain-computer interface company Neuralink all face regulation from the federal government. Unlike SpaceX, which makes the bulk of its money from the government, Tesla has relatively few government contracts. But numerous federal policies directly affect Tesla's finances, including a $7,500 tax credit for electric vehicle buyers that allows Tesla and other automakers to raise prices. The tax credit has also has helped boost EV sales. That was likely worth billions to Tesla last year alone. Tesla also reported more than $8 billion in sales over six years of regulatory credits to other automakers to help them comply with federal and state emission standards. Trump is in favor of rolling back those standards and stripping states of the power to set their own emissions rules, which would destroy the market for those credit sales. The loss of the EV tax credit could cost Tesla $1.2 billion a year and the loss of regulatory credit sales another $2 billion, according to JPMorgan. 'At the end of the day being on Trump's bad side will not turn out well, and Musk knows this,' Ives wrote. Trump has argued that Musk's primary opposition to the Big, Beautiful Bill is the loss of EV tax credits. Musk denies that, retweeting a post Monday that said, 'Elon's opposition to the 'One Big Beautiful Bill' has never been about its removal of EV tax credits or the EV mandate, it's simply about his passionate opposition to rising government debt.' 'All I'm asking is that we don't bankrupt America,' Musk posted. What happens next? It's unclear whether Musk's threats will kill the bill's chances. Trump has mounted a massive pressure campaign on holdouts, putting members of Congress in a difficult position of choosing Musk and his war chest of cash over Trump and his bully pulpit. Musk spent more than $275 million to support Trump and other Republican candidates in the 2024 election. According to Federal Election Commission filings, Musk's political action committee, America PAC, last gave money in March to support two Republican candidates running in special elections in Florida — Randy Fine and Jimmy Patronis. In late May he said in an interview he was planning to cut back on political spending, saying he has 'done enough.' But Musk has the resources to make good on his promises to support a slate of alternate candidates if he chooses. That doesn't guarantee he'll succeed: Musk spent considerable time and resources in a losing effort to elect a Republican to Wisconsin's supreme court earlier this year. His popularity remains low, and, ultimately, Donald Trump is president, and Musk is not.
Mid East Info
25-06-2025
- Mid East Info
Market Analysis: US stocks inching closer to all-time highs
By Daniela Sabin Hathorn, senior market analyst at Despite heightened geopolitical uncertainty stemming from the Middle East, U.S. equity markets have displayed remarkable resilience. Both the S&P 500 and Nasdaq 100 are approaching their all-time highs, with the tech-heavy Nasdaq mere points away from setting a new record. S&P 500 and Nasdaq 100 daily charts Past performance is not a reliable indicator of future results. The escalation in tensions between Iran and Israel, particularly following U.S.-linked airstrikes on Iranian nuclear facilities, initially jolted global markets. Oil prices surged, and capital rotated into traditional safe havens such as gold and the U.S. dollar. However, this reaction proved short-lived. By the close of trading on Monday, risk sentiment had rebounded sharply. The recovery was buoyed by former President Donald Trump's announcement that a ceasefire agreement had been reached between the two nations. Since then, the S&P 500 and Nasdaq 100 have climbed 3% and 3.8%, respectively, underscoring a broader risk-on mood in financial markets. Surprisingly, market appetite for U.S. equities has persisted—even after the ceasefire appeared to unravel within 24 hours of being announced. While the geopolitical backdrop remains volatile, the market's muted response suggests investors believe the conflict will remain contained or have limited economic spillover. Still, the longevity of this rally may hinge on how tensions evolve and whether markets reassess geopolitical risk premiums if conditions deteriorate further. Meanwhile, tariff negotiations, once a dominant market concern, have been largely sidelined. Trump's announcement of a 90-day hiatus on new tariffs initially lifted sentiment, but since then, public progress has been minimal. With the July 8 deadline fast approaching, market complacency could pose a risk. A failure to reach meaningful agreements by that date may trigger renewed downside pressure in equities, exacerbated by the current lack of investor focus. Conversely, an extension of the deadline could provide businesses with more time to adjust, reduce uncertainty, and offer further support to global risk assets. |for now, markets continue to climb a wall of worry, brushing off geopolitical tensions and policy stagnation in favour of a broader bullish narrative. While near-term momentum remains intact, investors should be wary of rising risks—particularly if trade talks falter or geopolitical tensions intensify further.
Mid East Info
18-06-2025
- Mid East Info
Commodities strengthen into midyear as demand for hard assets heat up – Saxo Bank MENA - Middle East Business News and Information
Ole Hansen, Head of Commodity Strategy, Saxo Bank The commodities sector is closing in on a strong first half of 2025, with the Bloomberg Commodity Total Return Index rising 3% over the past week and up 10% year-to-date—marking its highest level since September 2022. This rally significantly outpaces other US dollar-denominated assets, with both equities and bonds lagging behind. Unlike typical commodity bull runs driven by economic expansion, the current upswing is being fueled by safe-haven demand, geopolitical tension, and renewed investor appetite for hard assets amid macro uncertainty. Broad gains despite macro headwinds The double-digit year-to-date return on the index, which comprises 24 major futures markets, split almost evenly between energy, metals, and agriculture, excluding platinum, the current star performer on 40%, has, as mentioned, been achieved despite heightened economic growth concerns, especially in the US and China, the world's top consumers of raw materials. In the chaotic days that followed Trump's 'Liberation Day' tariff attack on major trading partners, the index suffered a top-to-bottom drawdown of 9% before embarking on a recovery that now has led to a fresh high being reached, and in the last week supported by gains across all three sectors, led by crude oil, fuel products, gold, silver, soybeans, and wheat. Note: besides platinum, the star performer, the bottom three are not included in the BCOM TR Index. In comparison, the S&P 500 trades up by less than 2% and the Nasdaq by around 3% after suffering significant February to April drawdowns of 19% and 23%, respectively. Highlighting the reasons why a diversified approach to commodity trading and investment reduces the overall volatility, making it easier from a risk management perspective to maintain an exposure through peaks and troughs. Precious metal: Safe-haven star performers Precious metals are leading the charge, with platinum, gold, and silver at the top of the performance table. Silver recently broke above USD 37 per ounce, its highest level in 13 years, while platinum is up more than 40% year-to-date after breaking a 17-year downtrend last month. Gold, which back in April hit a record high at USD 3,500, has moved into a consolidation phase while awaiting the next potential bullish trigger. Despite the current lull, bullion continues to attract strong demand from central banks and long-term investors concerned about sovereign debt, inflation risks, and the weakening US dollar. Despite silver's recent period of strength, the gold-silver ratio remains elevated near 91, well above its 5-year average closer to 80, highlighting silver's relative catch-up potential if macro and technical tailwinds persist. Growing concerns around US fiscal sustainability, softening labour market data, and the threat of tariff-driven supply disruptions are reinforcing the case for hard assets. These conditions also strengthen the possibility of a more dovish shift from the Federal Reserve, potentially opening the door to rate cuts sooner and deeper than previously expected. In this environment, gold pushing toward the USD 4,000 mark over the next 12 months is no longer out of the questions. Energy: Geopolitical risk premium returns In the energy sector, prices have rebounded strongly this month, initially buoyed by seasonal summer demand tightening supply. This has helped offset bearish factors such as rising OPEC+ output and macroeconomic uncertainties. What began as a steady recovery—partly fueled by short-covering—turned volatile last week when Brent crude spiked as much as 13%, reaching USD 78.50 per barrel, after Israel launched a prolonged series of airstrikes on Iranian nuclear and ballistic missile facilities. Thereby reducing the chance of a negotiated solution between the US and Iran, which have centered almost exclusively on Iran's rapidly advancing nuclear program, with the core objective of these talks to limit Iran's nuclear activities—particularly uranium enrichment—in exchange for relief from US-imposed economic sanctions. With Iran vowing to respond with missiles and drone attacks and rising fears of US involvement in strikes on Tehran and its underground nuclear facilities, the escalation has once again raised fears of broader conflict in a region responsible for a third of global oil output. Tensions around the Strait of Hormuz—through which over 20 million barrels of oil transit daily—are the main focus. Pricing a market that on balance—without a disruption—should trade closer to or below USD 70 is difficult, which is why the options market is increasingly being used by professionals to hedge the outside chance of a disruption spike, with the cost of buying calls now exceeding puts by a bigger margin than they did after Russia's 2022 invasion of Ukraine. Agriculture: Biofuel link, weather, and short covering offering support Agricultural commodities continue to trade mixed, with a small 2.3% year-to-date gain in the Bloomberg Agriculture Index being primarily driven by strength across the livestock sector, while the index-heavy grain and soybean sector trades close to flat on the year. However, just in the past week, some strength has emerged with soybeans and corn catching a bid on the back of stronger energy prices, given the crop's role in the production of biofuels, while CBOT wheat touched a one-week high after a slow start to the US winter wheat harvest. Speculators—net short in wheat for three consecutive years—were forced to unwind positions, despite the broader grain complex still showing mixed performance year-to-date. Together with an extended short position in corn, traders of these two crops will look for signs of additional strength, forcing additional short covering from a technical and momentum-driven perspective. Looking ahead: Risks to second-half momentum Finally, it's worth mentioning that while we see the commodity market being in the early stages of a multi-year super-cycle, several obstacles may prevent the sector from achieving a similar return in the second half. The energy sector may turn lower on a solution to the Middle East war, while the global economic impact of Trump's tariff war, especially in the US, may have a dampening impact on the global economic outlook. Inadvertently, if materialise such weakness may drive down the dollar further while triggering a fresh round of US rate cuts, thereby supporting demand for hard assets through a reduction in the cost of holding a non-coupon or dividend-paying asset.
