International esports organization Ninjas in Pyjamas Group (NIP Group)(NASDAQ: NIPG) has announced a multi-year partnership with ADIO Holdings Restricted Limited (ADIO Group), an Abu Dhabi-based entity established by the government-owned Abu Dhabi Investment Office.
Under the terms of this new agreement, ADIO will invest up to approximately $40M USD in NIP Group over a four-year period, contingent on the organization meeting certain quantitative and qualitative performance milestones.
As part of the deal, NIP Group will establish an Abu Dhabi-based entity that will serve as its official global headquarters, thereby expanding its footprint in the Middle East. The organization plans to leverage its enhanced presence for growth in multiple verticals, including esports, game publishing, events production, talent management, and creative studio operations. In addition, NIP Group will collaborate with ADIO as a key strategic advisor on “strategies to develop a thriving ecosystem for gaming and esports in the UAE, ranging from community-focused initiatives to professional-level engagement.”
This agreement marks a significant step for NIP Group’s expansion strategy, which already operates offices in Stockholm, Sweden; Wuhan, China; and São Paulo, Brazil. The partnership underscores Abu Dhabi’s strategic move to foster a regional hub for digital entertainment, while offering NIP Group access to local resources and business opportunities. According to the company’s recent SEC filing, the relocation of its global headquarters and the infusion of capital from ADIO are expected to facilitate scalable initiatives across NIP Group’s portfolio.
NIP Group—managed by co-CEOs Mario Yau Kwan Ho and Hicham Chahine—recently released its first-half 2024 financial results, reporting total net revenues of $39.3M, including $8.7M in event production revenue. The organization posted a net loss of $4.7M and an adjusted EBITDA of -$2.6M, with operating expenses declining by 49% compared to the same period the previous year.