Esports betting and sportsbook operator Rivalry has recently laid off around 10 employees, sources told The Esports Advocate, as the publicly traded company (TSXV: RVLY, OTCQX: RVLCF, FSE: 9VK) enters a phase of strategic realignment. Coupled with the company’s decision to secure a new line of credit and launch a formal strategic review, these moves appear to reflect deeper challenges in Rivalry’s operating environment and financial performance. Financial Pressures Signal Need for Restructuring Rivalry’s most recent financial results revealed several...

Publicly traded esports and gaming company GameSquare (NASDAQ:GAME) announced Monday that it has divested its remaining 25.5% stake in FaZe Media, an independent subsidiary managed by FaZe Clan Founder and current FaZe Media CEO Richard “FaZe Banks” Bengston. Details of the divestiture—part of GameSquare’s broader strategy to streamline operations and strengthen its balance sheet—will be published when the company reports its Q4 2024 financial results on April 16, 2025. Effective April 1, FaZe Media will no longer be consolidated in...

 Huya Inc. (NYSE: HUYA), a Chinese game live streaming platform, today reported its unaudited fourth quarter and fiscal year 2024 financial results, highlighting key strategic shifts amid challenging market conditions. In the fourth quarter of 2024, Huya posted total net revenues of ¥1,495.8 million RMB ($207.0 million USD), a slight decline from ¥1,529.8 million ($211.7 million) during the same period in 2023. However, the company’s game-related services, advertising, and other revenues surged to ¥371.6 million ($51.4 million) compared with ¥186.3...

Guild Esports and Gaming has completed the acquisition of Encore, a Los Angeles–based fan engagement and analytics platform. This strategic investment expands Guild’s toolkit by integrating Encore’s data-gathering capabilities, including its flagship Fan ID protocol, into its suite of products and services. The move will enable Guild to offer partners and end users enhanced methods for capturing zero- and first-party data to drive secure, reward-based fan engagement. In a separate but equally significant development, Guild has entered into a partnership...

Motorsport Games Inc. (NASDAQ: MSGM) has recently finalized key legal actions that address longstanding contractual obligations and securities-related disputes. Settlement Agreement for Studio397 Obligations On February 20, 2025, MSGM entered into a settlement agreement with Technology in Business B.V. and Luminis International B.V. The agreement addresses disputes arising from a share purchase agreement dated April 1, 2021, concerning Studio397 B.V.—the entity responsible for the development of motorsports simulations rFactor2 and Le Mans Ultimate. Under this settlement, MSGM is obligated to...

Asian gaming lifestyle platform Talon Esports (TALON) and French football powerhouse Paris Saint-Germain (PSG) have announced the conclusion of their long-standing League of Legends partnership. The move comes as both organizations realign their strategic priorities. Originally formed in June 2020 under the moniker PSG Talon, the collaboration combined PSG’s international brand recognition with TALON’s competitive pedigree across Asia’s esports scene. Over four years, the alliance yielded impressive competitive results—including four World Championship qualifications and seven championship trophies in the Pacific...

On Dec. 12, the Communist Party of China‘s Central Commission for Discipline Inspection (CCDI) announced that 67-year-old Gou Zhongwen had been expelled from the party and dismissed from public office for several severe disciplinary and legal violations, including corruption, abuse of power, and dereliction of duty during his time as the minister of the Chinese General Administration of Sport from 2016-2022. “After investigation, Gou Zhongwen’s behavior severely damaged the political ecosystem of Chinese sports, and caused huge economic loss,” CCDI...

Microsoft's research division is teaming up with iRacing, the leading sim racing platform, to explore the development of advanced artificial intelligence models that could revolutionize virtual racing and have broader implications for AI applications in physical and virtual environments. Strategic Collaboration on AI and Large Action Models Announced on November 25, 2024, the partnership focuses on creating Large Action Models (LAMs), a subset of AI foundation models designed to perform complex tasks in dynamic settings. These models aim to enhance...

NIP Group Inc. (NASDAQ: NIPG) reported robust financial results for the first half of 2024, showcasing significant growth in event production revenue and a marked reduction in net losses. The company's strategic shift toward diversifying revenue streams and optimizing costs appears to be paying off. Financial Highlights Total Net Revenues: Reached $39.3 million, a 2% increase from $38.6 million in the same period last year. Event Production Revenue: Skyrocketed by 376.5% year-over-year to $8.7 million. Net Loss: Narrowed by 59%...

  DouYu International Holdings Limited (Nasdaq: DOYU), a game-centric live-streaming platform, reported a significant drop in its third-quarter earnings, reflecting challenges in the live-streaming industry and a shifting focus toward revenue diversification. DouYu announced that its total net revenues for the third quarter ended September 30, 2024, decreased by 21.8% year-over-year to ¥1.06 billion RMB ($146.3 million USD), down from ¥1.36 billion ($187.7 million) in the same period last year. The company's net income plunged to ¥3.4 million ($0.5 million),...