Play Digital sells PokerVision Media subsidiary 2017-05-23 10:27 ET - News Release
Mr. Trevor Doerksen reports
EPLAY TO FOCUS ON E AND PLAY WITH ITS PROPRIETARY SPORTS GAME ENGINE
ePlay Digital Inc. has sold its subsidiary interest in PokerVision Media (PVN). The sale results in the cancellation and return to treasury of 6,431,250 ePlay Digital common shares and 20 million ePlay Digital performance warrants, effectively reducing dilution and effectively acting as share and derivative security buybacks.
In conjunction with the sale of PVN, ePlay is focusing on the commercialization of software, intellectual property acquisition/development, and deploying multiplatform networks and fan engagement for sports teams, leagues, networks, venues and brands. ePlay acquired Mobovivo in December, 2016, and the company plans to expand services and sales efforts with particular focus on the Mobovivo sports game engine (SGE).
"ePlay is concentrating its business model in fan engagement in sports and entertainment, and of course the rapidly growing e-sports segment," says Trevor Doerksen, chief executive officer of ePlay Digital. "Assisting PokerVision to reach its goals for engaged fans is a key ongoing commitment as we continue to expand the reach of the Mobovivo sports game engine across sports and e-sports."
SGE is a suite of five games, including fantasy sports and other social games deployed for multiple clients, including one of North America's largest theatre chains and television networks. The company's immediate plans are to expand into sports venues/teams and brands in North America and Europe with two new editions -- SGE restaurant edition and SGE venue edition. Mobovivo licensed the engine to ESPN and Intel during the 2014 FIFA World Cup and is working toward a number of upcoming sports seasons, including the 2018 Olympics and FIFA World Cup.
In addition to traditional sports like soccer, football, hockey, baseball and basketball, an updated version of its platform to support e-sports is planned for the summer of 2017. E-sports is rapidly growing and expected to reach $1.5-billion by 2020 according to estimates. The United States was the No. 1 e-sports market in 2016, followed by China and South Korea.
ePlay Digital and PVN will continue to work synergistically under a long-term client relationship. As part of the agreement, ePlay negotiated a new service agreement to support PVN's continuing efforts to grow its multiplatform network.
In addition, Lynne Kellner, PVN's lead board member representative has resigned from ePlay's board of directors and will be replaced with expertise in the e-sports and sports software industry.
About ePlay Digital Inc.
ePlay Digital develops real-time fan engagement technologies that enable TV networks, venues, teams, leagues and brands to evolve and meet the demands of today's highly engaged audiences. ePlay bridges the gap between traditional broadcast and dynamic, next-generation multiplatform networks that deliver interactive content, live streaming, augmented reality, fantasy sports and social media across multiple devices.
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