TIDMGFIN
RNS Number : 1900V
Gfinity PLC
05 August 2020
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
05 August 2020
Gfinity plc
("Gfinity" or the "Company")
ADMM and Gfinity announce launch of new digital motorsport
competition V10 R-League, as part of Global Racing Series
Gfinity (AIM: GFIN), a world-leading esports and gaming
solutions provider, and Abu Dhabi Motorsport Management (ADMM) have
today launched a new digital motorsport competition, the V10
R-League. The V10 R-League is launched as part of the Global Racing
Series, the first stage of the activation of the 5-year agreement
between ADMM and Gfinity announced on 4 June 2020. The Global
Racing Series will feature a range of internationally focused
virtual motorsport leagues and competitions, designed to provide
commercial opportunities with brands, broadcasters and teams.
The V10 R-League, the first league under the Global Racing
Series, will involve eight teams competing against each other in a
round robin-head-to-head format. Two seasons will run per year and
the teams are competing for a prize pot of GBP100,000 per season.
The first of the eight teams to be announced are Ford (Fordzilla),
JAESA Team Suzuki, Williams Esports and BWT Racing Points Esports
Team.
Season 1 will consist of seven rounds of matches. Each match
will include a one on one race, a relay race and a first past the
post format. Races will take place across seven iconic tracks and
the teams will race in a brand-new car specifically designed for
the V10 R-League.
The professional sim drivers will race virtually on a full
racing rig, with their camera and audio feeds controlled live from
Gfinity's TV studio in Fulham, London. All content will be
available across the Gfinity Digital Media Network and all team
channels, as well as through regional and global distribution
partners. Season 1 will air 'as live' at the end of August and
throughout September 2020. Broadcast schedules are currently being
finalised. Season 2 will air in Q1 2021.
The V10 R-League uses the Assetto Corsa game. It was chosen as
it allows the use of custom cars, has iconic tracks and delivers
stunning visual imagery. It is widely used by the world's leading
sim drivers. The game also offers significant scope for in-game
advertising, adding to the commercial opportunities within the
competition.
The ADMM and Gfinity commercial teams are currently in
negotiation with leading broadcasters and brands for multi-year
deals to support the V10 R-League and expect to be able to announce
them in the coming weeks.
Saif Al Noami, Acting CEO ADMM said : "It is fantastic to see
the first competition within the Global Racing Series come to life
so creatively. Having the support and commitment from iconic racing
and esports brands who will be stakeholders in the V10 R-League is
testament to the concept. The Global Racing Series, will become the
natural home for professional sim racing competition and we look
forward to adding more innovative leagues in the weeks and months
ahead."
Gfinity CEO, John Clarke said , "There has been a massive spike
in interest in virtual motorsport, a key pillar of our Company
strategy. We are excited to launch the V10 R-League, which has
already attracted some of the biggest names in racing. The format
has captured the imagination of teams, drivers, broadcaster and
brands. The Global Racing Series and V10 R-League contribute
positively towards Gfinity's stated goal of being profitable in Q1
2021."
ENDS
Notes to Editors
Watch trailer for V10 R-League -
https://youtu.be/xsCecX4FprQ
Enquiries :
Gfinity plc www.gfinityplc.com
John Clarke, CEO Via Teneo
Investor relations ir@gfinity.net
Teneo ( Media) Tel: +44 7464 982426
Camilla Cunningham Gfinity@teneo.com
Allenby Capital Limited (AIM Nominated Tel: +44 (0)20 3328
Adviser & Broker) 5656
Jeremy Porter / James Honigold (Corporate
Finance)
Amrit Nahal (Sales)
About Gfinity
Gfinity (AIM: GFIN) is a world leading esports business. Created
by gamers for the world's 2.2 billion gamers, Gfinity has a unique
understanding of this fast-growing global community. It uses this
expertise both to provide advisory services and to design, develop
and deliver unparalleled experiences and winning strategies for
game publishers, sports rights holders, commercial partners and
media companies.
Gfinity connects its partners with the esports community in
authentic and innovative ways. This consists of on-- and off-line
competitions and industry--leading content production.
Relationships include EA SPORTS, Activision Blizzard, F1 Esports
Series and the Forza Racing Championship.
Gfinity connects directly with competitive gaming consumers
through its growing community of gamers on its own platforms:
Gfinityesports, RealSport101 and StealthOptional.
All Gfinity services are underpinned by the Company's
proprietary technology platform delivering a level playing field
for all competitors and supporting scalable multi-format leagues,
ladders and knockout competitions.
About Abu Dhabi Motorsports Management
Abu Dhabi Motorsports Management (ADMM), with its head office at
Yas Marina Circuit, Yas Island, has created unique, world class
experiences across Abu Dhabi since 2009.
ADMM have promoted and delivered globally significant events,
including Formula 1 Etihad Airways Grand Prix, alongside over 400
events a year across motorsports, health and fitness, entertainment
and major corporate conferences. The company also delivers a
significant programme of motorsport retail experiences for business
and consumer audiences at Yas Marina Circuit across the year. This
combined experience means that ADMM has a region-leading team with
expertise in event marketing, communications, promotions and
project management. Such talent firmly positions ADMM as a leader
in sports management.
The company is now seeking to diversify into activities and
strategic ventures beyond Yas Marina Circuit in order to build
towards a broader long-term vision aligned with its partners and
stakeholders in Abu Dhabi.
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END
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August 05, 2020 02:00 ET (06:00 GMT)
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