Motorsport Games Inc Stock Price, News & Analysis

Motorsport Games has announced the launch of the NASCAR 21: Ignition 2022 Season Expansion Update, which reflects the 2022 NASCAR Cup Series season. Available for free to existing owners for platforms including PlayStation and Xbox, the update features a UI refresh, new broadcast introductions, and updated driver rosters. New players can purchase Ignition at a reduced price of $19.99. The update brings current racing content to NASCAR Heat 5 and NASCAR Heat Mobile, with the former offering it for $12.34 starting October 21, 2022, and the latter for free on October 27, 2022.

Motorsport Games (NASDAQ: MSGM) announced the entry list and schedule for the 4 Hours of Monza, the second round of the 2022-23 Le Mans Virtual Series. This event will take place on October 8, 2022, featuring a high level of competition with real-world and esports drivers, including noteworthy participants like Yifei Yi and Luis Diaz. The race will be broadcasted live, commencing with qualifying on October 7. The Le Mans Virtual Series unites top teams across five rounds, culminating in a total prize fund of $250,000.

Motorsport Games has announced a new partnership with contemporary artist Frankie Zombie and Live Fast Motorsports to promote NASCAR events and charitable initiatives. The collaboration includes a custom paint scheme for the No. 78 Ford Mustang to be featured during the Dixie Vodka 400 on October 23 at Homestead-Miami Speedway. Fans can download the paint scheme on October 6 as part of the NASCAR 21: Ignition Victory Edition. The partnership aims to expand Motorsport Games’ audience and contribute to charitable organizations like the Speedway Children’s Charity.

Motorsport Games (NASDAQ: MSGM) has announced five exciting at-track activations during the 2022 NASCAR Cup Series Playoffs. These events are scheduled for prestigious locations including Talladega, Charlotte, Miami, Martinsville, and Phoenix. Fans can compete in the NASCAR Rivals game for various prizes, including signed memorabilia and VIP passes to events. Winners will be crowned at the Championship Weekend in Phoenix, where they can take home a significant cash prize and exclusive rewards, showcasing the company’s engaging approach to fan interaction.

Motorsport Games (NASDAQ: MSGM) announced the 2022 Season Update for NASCAR 21: Ignition, reflecting the historic 2022 NASCAR Cup Series season, available from October 6, 2022. The update includes enhancements across Race Now, Online Multiplayer, and the Paint Booth, providing users access to the latest drivers, teams, and tracks. Current owners can download the update for free, while new users can purchase it at a reduced price of $19.99 USD. This update aims to bridge to the next official NASCAR title, which is already under development.

Motorsport Games (NASDAQ: MSGM) has announced the opening of the 2022-23 Le Mans Virtual Series, starting on September 16, 2022, with the first event, the 8 Hours of Bahrain, on September 17, 2022. The series features a five-round format culminating in the prestigious 24 Hours of Le Mans Virtual. Prominent drivers, including Max Verstappen and Romain Grosjean, will compete in an elite field. The series aims to engage fans through expert commentary and a prize fund of $250,000, enhancing its market visibility and appeal.

Motorsport Games (NASDAQ: MSGM) will showcase its innovative rFactor 2 racing simulation at the SALT New York 2022 Conference, held from September 12-14 at the Javits Center. Guests can participate in a Hot Lap Competition to race a Formula Pro car on Circuit Zandvoort, competing for signed gear from former Formula One driver Romain Grosjean. This event marks the second large-scale collaboration with FTX, following the FTX Off The Grid festival in May 2022. CEO Dmitry Kozko expressed enthusiasm for the event, anticipating an engaging experience for participants.

Motorsport Games (NASDAQ: MSGM), a prominent racing game developer, has announced that CEO Dmitry Kozko will present at the H.C. Wainwright 24th Annual Global Investment Conference. The presentation is scheduled for September 14, 2022, at 11:30 a.m. ET. Interested participants can access the live webcast through the Motorsport Games Investor Relations website. The company is known for developing official motorsport games and esports for series like NASCAR and INDYCAR, enhancing the racing experience for fans globally.

Motorsport Games (NASDAQ:MSGM) announced a 2022 Restructuring Program aimed at generating approximately $4 million in annualized cost reductions by the end of 2023. The company received a $3 million cash advance from its majority stockholder, Motorsport Network, to enhance its capital structure. Additionally, a 1-for-10 reverse stock split is planned to regain compliance with NASDAQ’s listing standards. The restructuring is expected to improve operational efficiency, reduce overhead costs by around 20%, and enhance profitability.