Thursday, March 03, 2022
Motorsport Games (MSGM)
An Unexpected Fallout
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. The company’s IPO was in January 2021, and it is headquartered in Miami, FL. For more information about Motorsport Games, visit www.motorsportgames.com.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Updates its risks. The company highlights additional risks related to its operations in Russia and the recent sanctions put on that country by Canada, the United Kingdom, the European Union, and the United States, among others. The company has significant operations in Moscow with a large number of engineers for its games.
Significant adverse impact. The company does not have the ability to pay its Russian staff for its future game development. It will take time for the company to add staff in its other locations outside of Russia. As such, we believe that there will be substantial delays in the delivery of new games …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
