Latest news with #MotorsportGamesInc
Yahoo
13-06-2025
- Automotive
- Yahoo
Le Mans Ultimate Introduces Driver Swaps, Team Management, Custom Liveries and Final 2024 WEC Content in Major June Update
Le Mans Ultimate Introduces Driver Swaps, Team Management, Custom Liveries and Final 2024 WEC Content in Major June Update MIAMI, June 10, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company') is today releasing the next landmark update for 'Le Mans Ultimate', the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans. This latest update this release introduces a suite of innovative features including online driver swaps for Special Events, an online community Team Management system, the addition of customized liveries, and the completion of the 2024 WEC season content included in the 2024 Season Pass. The June update will mark the debut of the long-awaited driver swap functionality, a core pillar of endurance racing that allows players to hand over control of the car to a teammate during live online races. Initially available in curated Special Events, the system enables mid-race driver transitions in the pitlane and is expected to create special moments of endurance racing that players can share with their team-mates. This marks the beginning of a deeper push into team-based online championships and future league play, powered by our online matchmaking and data platform RaceControl. Alongside this, players will be able to form persistent teams within the game with their friends and communities, allowing them to establish a team identity and assigning roles such as drivers, engineers and managers. Using the built-in team management tools, players can coordinate line-ups, register for events, and manage multiple squads (lineups), offering a level of organisation and strategy previously unseen in the title. The update also introduces the first iteration of the game's custom livery system. Available for online multiplayer events, liveries can be designed using downloadable templates and then uploaded directly inside the game into RaceControl, where they are rendered, stored, and shared with all participants in online races. This system ensures that every player and spectator sees the correct car design during events, creating a more immersive and personalised racing experience. The feature is exclusive to RaceControl Pro and Pro+ subscribers, with limited access available to Lite users participating in Pro-owned teams during Team races. In addition to these core features, the Pack 4 of the 2024 Season pass is simultaneously being released, completing the 2024 FIA WEC season content with the introduction of the Lusail International Circuit – recreated using the latest 2024 laser-scan data – and the addition of two eagerly anticipated GT3 entries: the Lamborghini Huracán LMGT3 Evo2 and the Lexus RC F LMGT3. Pack 5 is on sale at an early access price of £9.99 / €11.99 / $12.99 or users can purchase the Season Pass for £39.99 / €46.99 / $48.99. With this final wave of content, Le Mans Ultimate now features a total of 11 tracks with 21 layouts and 25 cars with 11 Hypercars, 1 LMP2, 4 GTEs, and 9 LMGT3s across the base game and optional 2024 Season Pass. 'This is a pivotal moment for Le Mans Ultimate and for everyone in our community,' said Stephen Hood, CEO of Motorsport Games. 'The features arriving in this update—driver swaps, team tools, and customized car liveries, along with the completed 2024 content—represent the core of endurance racing. We've listened closely to our players and this update reflects our shared vision for the future of the title. It is only the beginning of what's still to come and we will be holding a special update on 13th June for our community to give an insight on the future of the title.' The June 10 update also includes refinements to the LMGT3 tyre model, updated race start procedures, and other enhancements to gameplay. Motorsport Games has confirmed that more information on upcoming features and the game's development roadmap is expected to be revealed during the Automobile Club de l'Ouest (ACO) press conference at Le Mans on June 13, 2025 and via the Le Mans Ultimate YouTube and social media accounts. To purchase Le Mans Ultimate, the Season Pass, or individual DLC Packs, visit Le Mans Ultimate on Steam. Head to to configure private servers or subscribe RaceControl Pro or Pro+, the latter of which unlocks all DLC content with a live subscription. About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Forward Looking Statements Certain statements in this press release which are not historical facts are 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements 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. These forward-looking statements include, but are not limited to, the statements concerning the driver swap functionality system creating special moments of endurance racing that players can share with their team-mates, marking the beginning of a deeper push into team-based online championships and future league play powered by RaceControl, forming persistent teams within the game with players' friends and communities, establishing a team identity and assigning roles, players using the built-in team management tools to coordinate line-ups, register for events, and manage multiple squads (lineups), using downloadable templates to design liveries, creating a more immersive and personalised racing experience, the update being only the beginning of what's still to come, holding a special update on 13th June for the Motorsport Games community to give an insight on the future of the title, making racing games that are authentically close to reality and building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. 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, without limitation, the ability to create a more immersive and personalised racing experience for players, the ability to develop additional updates planned for 'Le Mans Ultimate', the ability to, and the ability to make racing games that are authentically close to reality and build a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games' filings with the Securities and Exchange Commission (the 'SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 312023, as well as in its subsequent filings with the SEC. 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. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games' website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release. Website and Social Media Disclosure Investors and others should note that we announce material financial information to our investors using our investor relations website ( SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website): Websites Social Media Twitter:@msportgames Instagram:msportgames Facebook:Motorsport Games LinkedIn:Motorsport Games The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts: Investors:Investors@ Media:PR@ A photo accompanying this announcement is available at in to access your portfolio
Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
06-05-2025
- Automotive
- Yahoo
Motorsport Games to Report First Quarter 2025 Financial Results
Motorsport Games Inc. Motorsport Games to Report First Quarter 2025 Financial Results Motorsport Games is set to report their Q1 2025 Financial Results on Friday 9th May 2025 MIAMI, May 06, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company'), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the first quarter of 2025 on Friday, May 9, 2025 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at under 'Events.' This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call may also be accessed live by dialing 1-800-267-6316 or 1-203-518-9783 and using Conference ID 'MOTOR'. About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: . Website and Social Media Disclosure : Investors and others should note that the Company announces material financial information to its investors using its investor relations website ( SEC filings, press releases, public conference calls and webcasts. The Company uses these channels, as well as social media and blogs, to communicate with its investors and the public about the Company and its products. It is possible that the information the Company posts on its websites, social media and blogs could be deemed to be material information. Therefore, the Company encourages investors, the media and others interested in the Company to review the information it posts on the websites, social media channels and blogs, including the following (which list the Company will update from time to time on its investor relations website):
Yahoo
07-03-2025
- Automotive
- Yahoo
Motorsport Games Inc. Announces Summary Judgment in its Favor in Dispute with Innovate 2 Corp
MSGM Summary Judgement in Dispute with Innovate 2 Corp MIAMI, March 07, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM), a racing game developer and publisher, announces that on February 26, 2025, the U.S. District Court for the District of Delaware (the 'Court') granted the summary judgment motion in favor of Motorsport Games Inc. (the 'Company') and the other defendants, the Company's former Chief Executive Officer and Executive Chairman, the Company's former Chief Financial Officer, and the Manager of Driven Lifestyle Group LLC., in the case titled Innovate 2 Corp., Motorsport Games Inc., et al., No. 1:21-cv-165-SB. The judgment entered by the Court held in favor of the Company and the other defendants on all counts and granted the Company summary judgment against Innovate 2 Corp. on the Company's claim for breach of the stock purchase agreement entered into between the parties. The Court ordered the parties to submit a joint status report on March 12, 2025 regarding the remaining issues in the case, including Motorsport's damages on its counterclaim. Stephen Hood, President and Chief Executive Officer of Motorsport Games Inc. commented, 'It is pleasing to receive this judgement from the Court in this matter. The Company and its former representatives have always maintained they acted in good faith and the Judge's ruling supports this.' 'Our restructured Company is pleased to put this matter behind us and continue to focus on making great racing game experiences, such as Le Mans Ultimate, as we continue to build on its promising foundation.' About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Forward-Looking Statements Certain statements in this press release which are not historical facts are 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements 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. These forward-looking statements include, but are not limited to, the statements concerning making great racing game experiences, continuing to build on Le Mans Ultimate's promising foundation and making racing games that are authentically close to reality. 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, without limitation, the ability to make racing games that are authentically close to reality. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games' filings with the Securities and Exchange Commission (the 'SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 312023, as well as in its subsequent filings with the SEC. 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. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games' website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release. Website and Social Media Disclosure Investors and others should note that we announce material financial information to our investors using our investor relations website ( SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website): Website Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport Games The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts: Investors: Investors@ Media: PR@ A photo accompanying this announcement is available at in to access your portfolio
