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If true this could be heading back to IPO price!
23/10/2023
Saudi Arabia said on Monday it would organise an eSports World Cup starting next year, the latest boost to a sector Riyadh hopes will create tens of thousands of local jobs.
"The eSports World Cup is the natural next step in Saudi Arabia's journey to become the premier global hub for gaming and eSports," the Gulf kingdom's de facto ruler, Prince Mohammed bin Salman, said in a statement.
Prince Mohammed is said to be an avid gamer partial to Call of Duty, and Saudi Arabia has invested heavily in the sector since the 38-year-old became first in line to the throne six years ago.
Last year, the crown prince announced a $38 billion investment strategy for the kingdom's Savvy Games Group, owned by the deep-pocketed sovereign wealth fund.
The goal is to create 39,000 eSports-related jobs by 2030.
Officials also want to make Saudi Arabia "an Eden for game developers" that can produce new titles "promoting Saudi and Arabic culture", according to the national eSports strategy, targeting 30 globally competitive games produced in domestic studios by 2030.
The first edition of the eSports World Cup is expected next summer, taking the place of the eight-week Gamers8 festival of eSports tournaments which this year featured a prize pool totalling $45 million.
"You can look at Gamers8 as a dry run for the eSports World Cup," said Ralf Reichert, CEO of the newly formed eSports World Cup Foundation.
Tourism falls off considerably during the summer in Saudi Arabia when temperatures in the capital Riyadh clear 40 degrees Celsius (104 Fahrenheit) on a daily basis.
But the eSports World Cup "will be complemented with a diversified set of activities and events that will draw visitors and tourists to the capital, transforming it into a gaming capital", Monday's statement said.
"As they come to Riyadh maybe it might be quiet in Riyadh relatively, but the destination is very busy," said Saudi Tourism Authority CEO Fahd Hamidaddin, highlighting attractions in the cooler southern highlands and on the coast.
Officials have not specified which games will be included in the eSports World Cup, saying only that details will be made public early next year.
"The tournament will include the most popular games in the world across all genres and have the largest prize pool in eSports history," the statement said.
GL.
Excellent Post Maverick. Saudis are Taking over Esports Globally. Beckham was out there a few months ago. Having the Man Utd of Uk Esports in Saudi control is a big win for the Sheiks.
So the brand is Saudi money. Saudi’s want to become the esports global capital & Guild are in there early.
Suspect this is highly significant for this company with a currently valuation of just £4m
I don't usually make 'punts' quite as speculative as this one.
Good to see the SP starting to get interesting.
Anyone know what's going on?
Big Move coming it now looks like. No idea YET who the Buyer is.. But Fingers Crossed. Its a Juicy Entity
Latino nobody is interested in your made up stuff for a pump move along
The 1m investment = 200m new shares.
Existing 622m shares.
First 500k unconditional
Next 500k subject to commercial agreement.
Guild Esports PLC (LSE: GILD; OTCQB: GULDF), a global gaming-focused media business, is pleased to announce that it has signed a subscription letter with an international esports, content creation and media brand ("the Brand") for the Brand to subscribe for up to 200,000,000 new ordinary shares of £0.001 each in the capital of Guild ("Ordinary Shares") at a price of £0.005 per Ordinary Share, to raise up to £1,000,000 before expenses.
The Brand subscribed for the Ordinary Shares in three tranches, payable entirely in cash. The first two tranches are unconditional, with the first tranche of £250,000 already subscribed for and the second tranche of £250,000 due and payable on 30 October 2023. The third tranche of the subscription is for £500,000 and is conditional on the negotiation and entry into a wider commercial agreement between the Brand and Guild.
Guild expect that the synergies between the Company and the Brand will enhance operational efficiencies and amplify value creation for stakeholders. The shared vision and complementary capabilities of both companies position them well to unlock growth, innovation, and market penetration. The Board anticipates that both companies will explore avenues for how collaboration can benefit each other's businesses, partners, audience footprint and generate future value. The investment and proposed partnership are a continuation of Guild's long-term strategy to establish itself as a leader within the esports, media and gaming sector. The Company will make a further announcement on the commercial agreement in due course.
GL.
Takeover..must be a big investor if true..How many shares in issue??
Fireworks here just at the right time of year.
Gotta be linked to the recent investment deal.
Either adding great value or a full takeover!?
GL.
Is there a leak here folks or is somebody buying a big stake or is a huge short closing ?
Well something is brewing here!
Perhaps a leak re the investor/strategy?
GL.
Might e an idea to load up before Shares are issued and Holding RNS released.
50% of something big is far better than ,100% of something small . Guild is in its infancy don't expect a straight trajectory.
SP starting to move North. Recent placing, we have not yet heard who is the buyer of 200,000,000 Shares. BUT thats a 25% stake.
If its a Big Name these will Move quickly. Could be in Takeover Mode
Pretty good RNS
200m shares at 0.5p per share, a slight premium albeit a discount to the previous raise of 0.6p from the Dutch fund who took 5%
Dilution is largely irrelevant at this market cap, with 600m shares in issue the enlarged capital only increases by 33% to 800m or thereabouts, so the market cap isn't impacted too much (which it would be if they raised £3-6m for example)
Only half of the raise allocated for now until a 'commercial agreement' is reached, so that should add some substantial value to the market cap, one could argue equal or greater value than the dilution incurred.
People forget this is a microcap, at this end of the market you are not going to get solid gold balance sheets and its rare you even get great management teams. I think they've done a pretty good job to date but it really is time now to start delivering that value. They've teed a few decent things up like the CS2 men's team which could attract a top sponsor, they've done some good deals with Sky, lets see if they can really push the company forward now leasing up to the major world cup next year etc.
1m is not small change with 500k unconditional!
There is a 500k buyer now.
Chance of a takeover or will they hold the 200m shares?
Interesting at least.
GL.
The subscription price is half a pence - in line with current sp. Bigger questions are who the partner is, can they use the funds effectively and is an expansion into MENA just a credible revenue-driver or showboating to be noticed and bought-out by some Saudi or Qatari prince?! :-)
Anyone any idea whom the partner is?
Price is very low!
Will they hold onto the shares? Ie will we get a Tr1?
GL.
Guild will be there. Street Fighter League Pro-Europe 2023 returns Friday 17th November. Six top 6 teams, some of Europe's strongest Street Fighter talent, all competing to be crowned 2023 champions!
I have just seen the promo video on Twitter by Capcom Europe. It shows all teams and Guild’s team dressed in the new Hummel clothing design. Looking sharp.
A Guild Instagram post states they’re one of 12 teams to be entering the eWorld Cup. That’s pretty huge if they’re in that elite pool. Assuming Beckham had a big role to play in this
Watch Guild shoot up now Snow
Good news for Esports and Guild.
https://esports-news.co.uk/2023/10/23/esports-world-cup-saudi-guild/
Nice Fortnite placement, but this should've been an RNS Reach.
The $400,000 prize money is split between Chico and his teammate ($200,000 ea), and Guild only receives 10% of that ($20,000), which is not market-moving news.
I not sure the share price can handle anymore positive news, if there is a whiff of a new sponsorship deal this will be sub .040 in a flash!!!
Oh no more good news!!!!!
GL.