Toronto, Ontario--(Newsfile Corp. - June 16, 2021) - Playground Ventures Inc (CSE: PLAY) (the "Company") is pleased to announce that it has entered into an agreement to become a founding investor in GG Hub Srl ("Good Game Hub"), an Italian media gaming corporation. Good Game Hub is building a vertically integrated Italian/European content channel that will focus on the gaming world. This channel will provide 24/7 media content that will be translated into multiple languages and available on different streaming platforms. With a targeted launch date of late Q4 2021, Good Game Hub has a corporate vision to create high-quality European gaming content for new generation TVs and digital devices. In making this strategic investment, the Company is creating regional diversification and is establishing a foothold in an underdeveloped E-sport community. With an estimated 16.7 million Italian gamers in a market that generated €2.1 billion euros in 2020, Good Game Hub is uniquely positioned to capture this underserved audience.[1] As Good Game Hubs grows, it will be targeting the larger European market of 386 million gamers that generates $29.6 billion US annually.[2] The Company will invest up to €1,000,000 Euros for up to 60% of the founding equity.
"We are beyond excited to have a partner of Playground Venture's caliber to join us on what will be Italy's first vertically integrated, multilingual gaming platform for the European market. The knowledge and expertise they will bring to this venture is immeasurable and we cannot wait to get started." - Michele Santoro, CEO of GG Hub Srl.
The Team
Michele Santoro
Mr. Santoro is a serial entrepreneur with a background in economics and finance, he has worked extensively in Italy, England, and Spain. He founded and launched Paspartù, a personal Concierge Service company with more than 45,000 high net worth members taking advantage of its unique services and member benefits. He has also established family Law Firm offices in Tirana and Tunis, supporting Italian and U.S. entrepreneurs in entering these markets. Most recently, he founded and directed DOLCE USA LLC (dba Sweetaly) a company specialized in the production of premium Italian sweets for American distribution, chosen by Agropur as one of the five "most innovative" dairy products in North America, which has become the best seller in its category in Wholefoods.
Luca Rochira
Mr. Rochira is an expert in media communication and TV production providing his expertise to companies like Disney, Universal, Discovery, Viacom and Sky. During his 10 years at Fox International as Programming and Creative Director in charge of the entertainment channels, he has received multiple international awards for his work. Currently, he is the Founder and CEO at MR Moody, a creative boutique specializing in developing and producing creative communication and TV formats for many European broadcast networks.
Roberto Pisani
Mr. Pisani has been an editorial director at Discovery Inc. and De Agostini S.p.A where he was in charge of Programming, Scheduling, Content Evaluation/Acquisition. As Channel manager for several TV networks, Roberto has developed a deep knowledge of international targeted tv markets and brand building.
"Playground Ventures is excited about our strategic partnership with Good Game Hub and the opportunity it represents for the Company. Not only does it diversify our offering, but it will act as the first step in establishing a base of operations in Europe from which we will continue to expand our business strategy." - Jon Gill, Chairman of Playground.
[1] Italian Game Developers Census 2021 - Italian Interactive Digital Entertainment Association (IIDEA), May 2021
[2] Global Games Market Report 2020 - Newzoo, June 2020
For further information, please contact:
Jon Gill, Chairman
Tel: 416-361-1913
Email: investors@playgroundventures.com
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87699
