Exhibit 99.1 Motorsport Games Reports First Quarter 2024 Financial Results "The first quarter of 2024 marked a significant milestone in the company's rejuvenation with the release of the first game developed solely by Studio 397, Le Mans Ultimate, to recognizably positive reviews," commented Stephen Hood, President and Chief Executive Officer of Motorsport Games. "Thanks to the hard work of our talented development team, marketing staff and our partners at the Automobile Club de l'Ouest, we believe Le Mans ...

MIAMI, May 01, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) (the "Company" or "Motorsport Games"), a racing game developer, publisher, and esports ecosystem provider of official motorsport racing series throughout the world, is today announcing the sale of its gaming media outlet Traxion to Traxion.GG Ltd, a UK subsidiary of Grid Finder Ltd for $250,000. This strategic decision continues Motorsport Games' ongoing efforts to streamline operations, reduce operational costs and sell off compone ...

Motorsport Games Inc. (NASDAQ:MSGM) Q4 2023 Results Conference Call April 1, 2024 5:00 PM ET Company Participants Ben Rossiter-Turner - IR Stephen Hood - Chief Executive Officer Stanley Beckley - Interim Chief Financial Officer Conference Call Participants Jason Tilchen - Canaccord Genuity Michael Kupinski - Noble Capital Markets Operator Thank you for standing by, and welcome to the Motorsport Games Inc.’s Fourth Quarter and Full Year 2023 Earnings Call. At this time, all lines in a listen-only mode. [Oper ...

Exhibit 99.1 Motorsport Games Reports Fourth Quarter & Full Year 2023 Financial Results MIAMI, Florida – April 1, 2024 — Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or the "Company") today reported financial results for its fourth quarter and fiscal year ended December 31, 2023. The Company has also posted the fourth quarter and fiscal year-end 2023 earnings slides highlighting key milestones that occurred in the period, which are accessible on the Company's investor relations website. Financia ...

Financial Performance and Outlook - Motorsport Games anticipates a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio and invest in new video game titles[12]. - The company expects to incur losses for the foreseeable future due to significant expenses related to product development and operational costs[12]. - The anticipated revenue from existing NASCAR products is expected to decline over time following the sale of the NASCAR License, significantly altering the company's risk profile[12]. - The company has incurred significant losses since inception and expects to continue incurring losses for the foreseeable future, raising substantial doubt about its ability to continue as a going concern[21]. - The company requires additional capital to meet financial obligations, which may not be available on acceptable terms[21]. - The company expects to continue incurring significant expenses, impacting its financial performance and liquidity[12]. Funding and Liquidity - Motorsport Games plans to explore additional funding options, including potential equity and/or debt financing arrangements, to address liquidity shortfalls[12]. - The company plans to negotiate and implement equity financing transactions to regain compliance with NASDAQ listing requirements[13]. - There is a substantial likelihood that Driven Lifestyle Group LLC will not fulfill future borrowing requests under the $12 million Line of Credit[12]. - The company is limited by a $12 million Line of Credit, potentially affecting its ability to finance operations[21]. - The company does not intend to declare dividends in the foreseeable future, focusing instead on improving its liquidity position[13]. - The company is exploring strategic alternatives, including potential equity and/or debt financing arrangements, to address liquidity shortfalls[12]. Business Strategy and Development - The company aims to organize the 2024/25 Le Mans Virtual Series, with plans for further adjustments to its product roadmap due to liquidity constraints[12]. - The company plans to continue generating revenue from advertising and sponsorship during esports events, but may face challenges in attracting more advertisers and sponsors[23]. - The company intends to expand its esports segment beyond Le Mans, aiming to enhance engagement and revenue through in-game purchases and extra content[13]. - The company believes that its esports business has the potential to generate incremental revenues through media rights sales and merchandising as the audience grows[13]. - The company plans to organize the 2024/25 Le Mans Virtual Series, indicating ongoing product development efforts[12]. Market Risks and Dependencies - The company is highly dependent on a small number of franchises for a significant portion of its revenues and profits[23]. - The business is highly concentrated in the racing game genre, and a shift in consumer preferences could negatively impact operating results[21]. - The company relies on a single third-party distribution partner for retail channel distribution, making favorable negotiations critical for its business[23]. - The ability to acquire and maintain licenses for intellectual property, especially for sports titles, is critical for revenues and profitability[23]. - The company faces risks related to the retention of key personnel, which could adversely affect its ability to achieve business plans[23]. - The dual class structure of the company's common stock may adversely affect the trading market for its Class A common stock[23].

motorsport 1 Q3 2023 Results Company Highlights A Working with our exclusive partners to generate new revenue streams 7 Q3 2023 Highlights | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|-----------------|----------------------|---------|----------|------------------| | Financial Highlights | | 2.0 - | | | | | Q3 2023 Revenues of $1.7M | in Millions ($) | (2.0) (4.0) | | | | | Q3 2023 Net loss was $3.5M | | (6.0) (8.0) (10.0) | | | | | Q3 2023 Adju ...

Start Time: 17:00 January 1, 0000 5:22 PM ET Motorsport Games Inc. (NASDAQ:MSGM) Q3 2023 Earnings Conference Call November 07, 2023, 17:00 PM ET Company Participants Stephen Hood - CEO Jason Potter - CFO Ben Rossiter-Turner - VP, IR Conference Call Participants Michael Kupinski - Noble Capital Markets Operator Good day, and welcome to the Motorsport Games Inc. Third Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended September 30, 2023 or FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the transition period from ___________ to ___________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39868 Motorsport Games Inc. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 86- ...

Financial Data and Key Metrics Changes - The net loss for Q2 2023 was $8.2 million, an increase of $0.7 million compared to the same period last year, primarily due to a noncash asset impairment loss of $4 million [13][14] - Year-to-date revenues were $3.5 million, down $1.9 million compared to the same period last year, while the year-to-date net loss was $13.5 million, improved from $23.5 million in the prior year [15] - Adjusted EBITDA for Q2 2023 was a loss of $2.7 million, an improvement from a loss of $6 million in the same period last year [37] Business Line Data and Key Metrics Changes - The NASCAR Heat 5 product update, titled the Next Gen Car Update, sold over 34,000 units, indicating strong performance and potential to become the top-grossing DLC by year-end [8] - Revenues for the quarter were $1.7 million, down $0.3 million or 13% compared to the same period last year, affected by lower pricing and volume of digital and mobile game sales [35] Market Data and Key Metrics Changes - Cash and cash equivalents as of June 30, 2023, were $2 million, down from $5.8 million as of March 31, 2023, indicating a liquidity challenge [16] - The average monthly net cash burn for the first half of 2023 was approximately $1.5 million, slightly improved from $1.6 million in the previous year [16] Company Strategy and Development Direction - The company is focusing on streamlining operations and enhancing its organizational structure as part of the 2022 Restructuring Plan, aiming for sustainable operations [10][14] - There is an ongoing investment in versatile multi-format technology aimed at mainstream gaming, with plans to explore various paths to accelerate market entry [11] - The company is exploring options for additional funding, including equity and debt financing, as well as potential asset sales or licensing [39] Management's Comments on Operating Environment and Future Outlook - Management emphasized the need for a comprehensive evaluation of the company's projects and processes to align with strategic goals [30] - The company is optimistic about the potential of its upcoming titles, particularly the Le Mans game, which aims to differentiate itself by allowing team-based gameplay [41][42] - Management acknowledged the challenges in the gaming market but expressed confidence in the company's ability to reach mainstream gamers and drive additional revenues [51] Other Important Information - The company has retained a positive outlook on implementing necessary adjustments to improve cash flow and operational efficiency [10] - The NASCAR Heat 5 DLC was developed in consultation with NASCAR to keep the back catalog vibrant, reflecting the community's affinity for the franchise [26] Q&A Session Summary Question: What are the characteristics that will differentiate the upcoming Le Mans game? - Management highlighted the focus on team-based gameplay, allowing players to participate together, which is a unique feature compared to typical racing games [42] Question: Can you provide insights on the cash burn and liquidity situation? - Management noted that cash burn was lower in July due to timing of payments and benefits from the restructuring program, indicating a smoother cash flow [23][45] Question: What was the rationale behind the NASCAR Heat 5 DLC launch? - The decision to launch the DLC was based on its near-completion status and the strong community interest in the Heat franchise, which remains vibrant [48][57] Question: What are the company's plans for future projects and investments? - Management is conducting a broad review of ongoing projects to identify viable opportunities and is focused on near-term projects that can generate returns without significant long-term investment [61][62]

GAMES August 21, 2023 2 Strategic, long-term partnerships with iconic racing brands Pole position in virtual racing esports Q2 2023 Highlights Financial Highlights • Announced "Le Mans Ultimate" – a brand-new game centered around the 24 Hours of Le Mans and FIA World Endurance Championship expected to release in December 2023 • Released key updates to rFactor 2, including the official FIA Formula E Gen3 car **Adjusted to reflect the company's 1-for-10 reverse stock split completed on November 10, 2022 on a ...