Vox Markets Logo

Gfinity appointed as ePremier League tournament operator for 3rd year running

13:12, 26th November 2020
Francesca Morgan
RNS Newswire
TwitterFacebookLinkedIn

Gfinity (AIM: GFIN FOLLOW) said it has been appointed as the tournament operator for the third season of ePremier League (ePL), its third consecutive year running the tournament.

The esports group will operate the tournament which gives UK-based players the opportunity to win the ePL title for their favourite club in an online EA Sports FIFA 21 competition.

Gfinity has been appointed to develop and execute online qualification for the tournament via its proprietary tournament management platform, while it will also develop and execute online club play-offs in the weeks leading up to the finals, which will take place in Spring 2021.

ePL’s third season will follow the same format as the first two; players will compete for three months across three rounds: online qualification, live club playoffs and the live ePL Final.  

The company informed investors that registration for this year's competition opens on Thursday 3 December 2020, with the online qualification beginning in January 2021.

John Clarke, Gfinity’s Chief Executive said the group is “excited” to create the third series of ePL which it said “continues to be one of the most successful tournaments in the sector.”

“This event sits in Gfinity's strategic pillar of building communities for others utilising our tech IP and world class production skills,” he said. Clarke added that in the past four weeks the company has also designed and delivered programmes for F1, Red Bull and Cadburys.

Shares in Gfinity have increased by over 12% since the beginning of October 2020 to open 4.55% higher this morning at 3.45p following the announcement.

GFIN price chart

Reasons to Follow GFINITY

The esports industry represents an exciting investment opportunity for Gfinity which is the only established UK listed company in the esports sector. In 2018, global esports revenue grew by 38%, with a projected esports market value of $1.5bn by 2020. 

Earlier this month, Gfinity launched a formal sales process as part of a strategic review which it said will help it continue its current pathway towards profitability forecasted for Q1 2021. 

Gfinity has seen three major progressions with regards to joint ventures and partnerships, including partnerships with BT Sport, ViacomCBS and Abu Dhabi Motorsport Management.  

The group said it is on track to deliver target revenues for this financial year of around £2m, leading the Company towards its maiden profit. GFIN is currently technically in an offer period post the announcement of its strategic review on 9 October 2020. 

‘While the Company continues on its current pathway towards profitability, at this point in time it is important to all its stakeholders to ensure that it has explored all strategic options to capitalise on the potential market opportunity,’ Gfinity noted. 

Follow News & Updates from Gfinity here: FOLLOW
 

TwitterFacebookLinkedIn

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles
Watchlist