Motorsport Games Q1, 2021 Financial Results: NASCAR NXT, WEC, LM24

NASCAR NXT and licensing of the WEC and Le Mans 24 Hours were confirmed in the Motorsport Games first quarter financial results today. I highly suggest reading this type of news as you begin to really appreciate some of the ‘power moves’ a company like this is making in a space that could have easily been dominated for decades by well established companies.

Here are a few selected quotes, firstly on NASCAR NXT:

NASCAR NXT. The rework of the new NASCAR franchise is in its final significant development period and will be submitted to platform holders for testing and certification. NASCAR NXT is anticipated to launch in the back half of the third quarter of this year.

Le Mans, WEC:

Le Mans Esports Series Joint Venture. The Company acquired an additional 6% interest in the Le Mans joint venture which brought the total ownership to 51% and allows the Company to consolidate the Le Mans joint venture into its financial results going forward. Additionally, the joint venture entered into license agreements where the joint venture was granted multiple 10-year exclusive licenses to use certain licensed intellectual property related to, themed as, or containing the FIA World Endurance Championship and the 24 Hours of Le Mans for esports and games.

General:

Stephen Hood, President of Motorsport Games, said, “I’m pleased to announce we are making great progress on the product front, finalizing NASCAR NXT, which we currently anticipate will be available in the back half of the third quarter. We are also adding new platform opportunities like Nintendo Switch later this year. The integration of our new studios, such as Motorsport Games Australia, that will drive forward the KartKraft product and Studio397 with rFactor2, has been a seamless transition to provide us with new technology, creativity and expertise. This incredible talent will help us accelerate our forward looking business interests and, together, I believe we will define the future of virtual motorsports.”