Gaming
Largest ever US-based company to be admitted to the London Stock Exchange commences trading on AIM
US video game publisher Devolver’s admission to trading in London is one of the largest ever floats on AIM and illustrates continued consumer and investor enthusiasm for digital gaming.
European law firm Fieldfisher has advised award-winning US video game publisher Devolver Digital, Inc. on its admission to trading to London’s AIM market, raising approximately US$261 million (£190 million) and valuing the company at a US$950 million (£694.6 million) market cap – making it one of the largest ever floats on AIM.
Shares in the company commenced trading at 8am today, Thursday 4 November.
This transaction marks the start of Devolver’s next stage of growth, providing US$50 million of gross proceeds to the company to accelerate its growth strategy and expansion plans. The transaction also included a secondary cash placing of US$211 million for management and existing investors, including strategic investor NetEase, Inc, who retain an investment in the company.
The ground-breaking transaction means Devolver will be the second-largest company (by market capitalisation) ever admitted to trading on AIM and the largest ever US-based operating company to be admitted to the London Stock Exchange across all markets. The placing has seen Devolver receive a significant strategic investment from a key industry player, as well as support from US institutional investors through the 144a placing.
Founded in 2009 and headquartered in Austin, Texas and London, UK, Devolver is an award-winning video games publisher in the indie games space.
With an emphasis on curating and publishing premium games, Devolver has a back catalogue of approximately 90 video game titles, including indie cult classics such as Fall Guys, Downwell and Enter the Gungeon.
Devolver has begun to selectively acquire studios and IP that enhance its pipeline and support its long-term international growth strategy.
Since the beginning of 2020, Devolver has acquired five of its long-term partner development studios and a second publishing brand.
The company has approximately 200 team members in Europe, North America and Asia, as well as subsidiaries in the UK, Netherlands, Croatia, Poland and the US.
Devolver works with a number of leading video game providers in the PC (Steam, GOG, Humble Bundle and Epic Games), console (PlayStation and Xbox) and mobile (Apple, Google Play, NetEase Games, BiliBili and Tencent Games) markets.
The company intends to use its AIM listing as a platform to fund its international, long-term growth strategy and increase its profile and brand-awareness globally.
Commenting on Devolver’s successful admission to AIM, Ed Westhead, corporate partner at Fieldfisher said:
“Devolver’s IPO is one of the standout deals on AIM this year and in the history of the junior market, which continues to provide an excellent, globally recognised platform for growing companies to attract capital and build their profile.
“Having recently advised on a number of significant transactions for video games companies, we can attest to the high levels of activity in this sector and the strength of interest in digital leisure activities.
“We wish Devolver the best of luck on its future as London-listed company.“
Douglas Morin, Chief Executive Officer of Devolver Digital, said:
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games. Most importantly it will allow us to retain our culture.
“Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent.”
Brian Chadwick, Devolver’s General Counsel, said:
“This is a transformational step for Devolver. As a leading US games company, coming to AIM gives us the opportunity to work with people who understand our culture, the commercial drivers in the games industry and what we are trying to achieve.“
Gaming
SPGA Announces Social Sweeps Game Sector Video Briefing
eSports
CS2 Intel Extreme Masters Rio 2024 SuperComputer: NaVi to bounce back after Blast Fall Final loss
Final: Natus Vincere (36.5%) to beat Team Vitality (28.1%)
Semifinal 1: Natus Vincere (52.6%) to beat MOUZ (16.3%)
Semifinal 2: Team Vitality (47.7%) to beat G2 Esports (18.7%)
Quarterfinal 1: G2 Esports (39.8%) to beat FaZe Clan (32.8%)
Quarterfinal 2: MOUZ (35.9%) to beat Eternal Fire (24.7%)
Group stage:
-
Natus Vincere – 48.7% to finish 1st; 17.0% to finish 2nd; 84.1% to make playoffs
-
Team Vitality – 40.8% to finish 1st; 17.4% to finish 2nd; 77.7% to make playoffs
-
G2 Esports – 19.3% to finish 1st; 20.4% to finish 2nd; 56.7% to make playoffs
-
MOUZ – 14.5% to finish 1st; 21.8% to finish 2nd; 53.0% to make playoffs
-
FaZe Clan – 13.9% to finish 1st; 21.0% to finish 2nd; 50.2% to make playoffs
-
Eternal Flame – 40.7% to finish 1st; 16.2% to finish 2nd; 40.7% to make playoffs
-
Liquid – 16.3% to finish 7-8th; 35.7% to make playoffs
-
Virtus.pro – 15.4% to finish 7-8th; 29.9% to make playoffs
-
Astralis – 28.9% to finish 9-12th; 31.5% to make playoffs
-
The MongolZ – 32.7% to finish 9-12th; 25.4% to make playoffs
-
Complexity – 34.3% to finish 9-12th; 21.2% to make playoffs
-
Heroic – 26.8% to finish 9-12th; 23.5% to make playoffs
-
paiN – 36.5% to finish 13-16th; 21.0% to make playoffs
-
FURIA – 36.4% to finish 13-16th; 20.9% to make playoffs
-
9z – 44.7% to finish 13-16th; 14.6% to make playoffs
-
Imperial – 49.1% to finish 13-16th; 13.9% to make playoffs
It has been quite the run for NaVi despite their loss with back to back grand finals in recent weeks but CSDB.gg’s predictive model suggests there will be no let up for the Ukrainian esports organisation.
G2 will also be looking to build more momentum in preparation for Majors season with NiKo on a quest to finally get over the line this year to win his first major title. Hopefully Rio won’t have to see a repeat of his reaction in the semifinals at BLAST Premier Fall Final 2024 where he punched a hole in a table after losing out to Team Vitality in a key moment.
However, the hosts of Intel Extreme Masters Rio 2024 may want to lockdown any nearby furniture and reinforce their desks if G2 are set for disappointment at the semifinals stage as predicted by the CSDB.gg SuperComputer.
A victory in Rio could be even more consequential for how the end of the year shapes up for the leading teams on the circuit. The Valve Global rankings have both teams close at the very top (NaVi at 1988 and G2 at 1953) meaning a win for either team could hand them a key advantage when it comes to who enters the Majors as top seed.
Back-to-back wins in T1 events for G2, should they prosper in Rio, would set the Berlin-based team on an incredible trajectory going into the winter months.
Meanwhile, Brazilian hopes for glory look slight according to the CSDB.gg SuperComputer with FURIA, the team co-owned by Neymar, having only been given a 20.9% chance of even making the playoffs.
They are the leading contenders to make an impact for the home crowd but there are other teams flying the flag for Brazil with paiN and Imperial also set to give it their best to give local fans something to cheer on.
In terms of forecasted matchups of note, G2 and FaZe Clan could offer up a fascinating encounter in the quarterfinals should both teams qualify, with each organisation rated as having a strong chance of making the semis with little to separate them should they meet.
How was the CSDB.gg CS2 Tournament SuperComputer created?
The CSDB.gg CS2 Tournament SuperComputer is a predictive model created using world ranking points, team quality ratings and performance trends. An element of randomness is also included in the model to avoid the best teams and players always winning, to reflect the fact that upsets can happen.
Every tournament is simulated 1,000 times with the results aggregated into a percentage rating of the chances teams or players have to achieve the predicted result.
Gaming
NASCAR launches persistent world on Roblox where players can become racing tycoons
NASCAR is once again taking the virtual racing world by storm, this time with the launch of “NASCAR Tycoon” on Roblox created by Dubit.
Building on the success of its previous “NASCAR Speed Hub,” this new experience promises to deliver an even more immersive and interactive NASCAR world.
Developed in partnership with the renowned metaverse studio Dubit, “NASCAR Tycoon” allows players to dive deep into the management and racing aspects of NASCAR, offering a unique blend of strategy and high-speed thrills in a distinctly Roblox-native way.
Players will have the opportunity to jump in the driver’s seat of cars styled after NASCAR’s Next Gen Cup Series vehicles, competing against each other and managing teams in thrilling races. Earning fame and fortune as they build their virtual tycoon, players can make passive income while they play. As players progress in “NASCAR Tycoon,” they will unlock exclusive perks such as building their own NASCAR racing teams, expanding their garages, collecting new cars, accessing customizations and attracting sponsors.
The launch comes hot on the heels of recent Fortnite activations and follows the debut of NASCAR in Jailbreak and NASCAR Speed Hub last year – a virtual environment built by Dubit, for players to race around tracks linked to real-world races.
“We’re thrilled to launch ‘NASCAR Tycoon’ on Roblox, developed in partnership with Dubit, marking a key milestone in our ongoing efforts to authentically engage with the Roblox community,” said Nick Rend, VP of Interactive and Emerging Platforms at NASCAR. “This initiative is about more than reaching new audiences; it’s about deepening our connection on a platform where we see tremendous potential. By blending the excitement of NASCAR with the interactive and dynamic environment of Roblox, we’re enhancing traditional fandom in ways that are engaging, fun, and distinctly forward-looking.”
With over 300 million monthly active users, Roblox is ripe with opportunities for sporting organisations like NASCAR and offers a chance to engage with audiences in an immersive and interactive environment.
Andrew Douthwaite, Chief Commercial Officer at Dubit, shares his excitement: “We’re thrilled to bring the next phase of NASCAR to life on Roblox, building on the success of previous activations. NASCAR Tycoon allows Roblox players to experience the excitement of NASCAR racing like never before, blending the strategic elements of team management with the adrenaline-pumping action on the track. It has been a true joy working with such a forward-thinking, iconic sports brand in NASCAR, and we look forward to continuing to push the boundaries together”
Dubit has created Roblox activations, virtual merchandise ranges and experiences for global brands including Unilever, Samsung, Reckitt, Kraft, H&M and adidas.
“NASCAR Tycoon” is now available on Roblox.
-
Latest News5 days ago
Full House Resorts Announces New Leadership for Rising Star Casino Resort
-
Latest News6 days ago
Arizona Department of Gaming Investigation into Illegal Gambling Leads to Record-Breaking Firearms Seizure
-
Financial reports3 days ago
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
-
eSports6 days ago
Influencers, Content and eSports: Unleashing the Power of Dynamic Strategies in the eSports Ecosystem
-
Latest News3 days ago
BGaming pens Brazilian multi-brand agreement with Cometa Gaming
-
Compliance Updates6 days ago
Chris Christie bets on Texas to approve OSB in 2025
-
Latest News6 days ago
Amusnet Expands Latin American Presence Through Strategic Partnership with bet365 in Peru
-
Latest News3 days ago
Black Oak Casino Resort Chooses QCI Chatalytics™ to Enhance Casino Operations with Integrated AI Solutions