ABU DHABI, United Arab Emirates, Jan. 21, 2025 (GLOBE NEWSWIRE) -- NIP Group Inc. (NASDAQ: NIPG) (“NIP Group” or the “Company”), a leading digital entertainment company, today announced that it has entered a multi-year partnership with the Abu Dhabi Investment Office (ADIO) to drive gaming, media and entertainment growth in Abu Dhabi. The five-year landmark agreement will see ADIO support NIP Group’s expansion in the region. Under the agreement, ADIO will support the Company with access to financial and non ...

Company Overview - NIP Group is a leading digital entertainment company formed in 2023 through a merger between Ninjas in Pyjamas and ESV5, which includes eStar Gaming, a world leader in mobile esports [8] - The company operates in Sweden, China, Abu Dhabi, and Brazil, with esports rosters participating in major global events [8] - NIP Group is diversifying its business across gaming, esports team operations, talent management, and event production, aiming to build a sustainable digital entertainment ecosystem [10] New Game Launch: Re: Aetatis - Re: Aetatis is NIP Group's first MOBA game, set to begin open beta testing on December 24, 2024 [1] - The game features a sci-fi setting on the continent of Aetatis, with 5v5 matchups and multiple innovative gameplay modes, including 7v7 Capture the Flag, 3v3 Roguelike, Werewolf, Battle Royale, and Zombie Survival [2] - Re: Aetatis is designed to appeal to both MOBA fans and players seeking fresh challenges in China's underpenetrated MOBA market [2] Strategic Significance - Re: Aetatis marks NIP Group's entry into China's dynamic game publishing market and represents a milestone in its evolution from an esports organization to a global digital entertainment leader [6] - The game leverages NIP Group's esports expertise, particularly through its teams eStar and NIP, which have deep experience in MOBA games [7] - NIP Group plans to extend the Re: Aetatis IP with esports tournaments, community-driven events, and potential collaborations to sustain player interest and content evolution [13] Business Model and Ecosystem - NIP Group is pioneering "esportsification," a process of transforming traditional video games into competitive gaming experiences, emphasizing strategic depth and entertainment value [12] - The company leverages synergies across its business units, including esports teams, event production, and talent management, to create a unified gaming ecosystem [12] - NIP Group's talent management division and recent acquisition of Youngwill enhance its ability to engage young audiences on social media and short-video platforms [5] Management Perspectives - Mario Ho, Chairman and Co-CEO, highlights Re: Aetatis as a critical step in building a sustainable digital entertainment ecosystem and engaging young audiences [5] - Allen Sui, COO, emphasizes the game's unique opportunity to fill a gap in the Chinese MOBA market with its anime and cyberpunk aesthetics [7] - Hicham Chahine, Co-CEO, expresses confidence that Re: Aetatis will make a lasting impact in the MOBA genre and create unforgettable moments for players and fans [9]

Maxim Group analyst Jack Vander Aarde initiated coverage on NIP Group Inc. NIPG with a Buy rating and price forecast of $12.Following its IPO in July, NIP Group has become a diversified company in esports, entertainment, and technology, with in-house professional esports teams like Ninjas in Pyjamas and eStar, as well as talent management and event production, Aarde writes.Per the analyst, NIP Group aims to capture higher-margin growth opportunities by expanding into new verticals with synergies, broadening ...

Financial Performance - Total net revenues for the first half of 2024 increased by 2% to $39.3 million compared to $38.6 million in the same period of 2023 [7][8] - Net loss narrowed significantly to $4.7 million in H1 2024 from $11.3 million in H1 2023, a 59% improvement [3][6] - Adjusted EBITDA improved slightly to negative $2.6 million in H1 2024 from negative $2.7 million in H1 2023 [3][20] Revenue Breakdown - Event production revenues surged 376.5% YoY to $8.7 million in H1 2024, driven by increased event hosting [1][9] - Esports teams operation revenues decreased 10.8% to $8.8 million due to shift from PC/console to mobile game revenue [9] - Talent management service revenues declined 18.6% to $21.9 million as the company transitioned to higher-performance platforms [9] Cost Structure - Total operating expenses reduced by 49% YoY, contributing to improved profitability [1] - Selling and marketing expenses decreased 26.7% to $2.8 million, representing 7.1% of net revenues [17] - General and administrative expenses dropped 56.6% to $4.7 million, primarily due to reduced share-based compensation [18] Strategic Developments - Completed IPO on NASDAQ in July 2024, raising $20.25 million [4][29] - Entered game publishing market in September 2024 to create integrated digital entertainment ecosystem [4][29] - Acquired Young Will in October 2024, strengthening talent management with 115 million social media followers [4][29] - Formed strategic partnership with Homeinns Hotels Group for esports-themed hospitality services [4][29] Operational Highlights - Cash and cash equivalents stood at $6.8 million as of June 30, 2024 [21] - Gross profit margin improved slightly to 6.0% in H1 2024 from 5.9% in H1 2023 [15] - Event production gross profit increased to $0.9 million, though margin declined to 10.5% due to front-loaded investments [16] Geographic Expansion - Signed term sheet with Abu Dhabi Investment Office, marking entry into Middle East market [4][5] - Operations currently span Sweden, China, Abu Dhabi, and Brazil [31]

WUHAN, China, Nov. 20, 2024 (GLOBE NEWSWIRE) -- NIP Group Inc. (NASDAQ: NIPG) (“NIP Group” or the “Company”), a leading digital entertainment company, today announced that it plans to report its financial results for the six months ended June 30, 2024, before the U.S. market opens on November 25, 2024. The Company’s management team will hold a conference call at 7:00 A.M. U.S. Eastern Time on Monday, November 25, 2024 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. Details for the ...