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Establishing a leading media and technology platform enabling next generation engagement in esports and gaming
Signed 16 client integrations for its technology and multiple brand partnerships for esports
New product initiatives to offer industry-first and proprietary business-to-business technology solutions to global sportsbooks, media companies, and platform providers
Toronto, Ontario--(Newsfile Corp. - November 24, 2021) - Tiidal Gaming Group Corp. (CSE: TIDL) ("Tiidal Gaming" or the "Company"), a leading esports and gaming platform company, is pleased to provide the following operational update on its core media and technology offerings following the Company's public listing on the Canadian Securities Exchange (the "CSE") on November 17, 2021.
"We are pleased to have achieved multiple strategic and operational milestones, including the public listing of our Company as well as the new client and partnership deals that we have signed across our media and technology offerings," said Charlie Watson, CEO of Tiidal Gaming. "Given the fast-growing gaming market, and our focus and expertise within the rapidly rising esports segment, our goal, in particular, is to scale up the ongoing development and distribution of our technology offerings to a wider customer base while executing product initiatives that will give us a competitive advantage by becoming the leading solution in the market. This will allow us to secure more top-tier clients and sponsors, as well as strategic partners, which will enable us to build a strong and scalable footprint in this rapidly growing industry."
The total global esports audience is expected to continue growing at a compound annual growth rate ("CAGR") of over 7.7% to reach 577.2 million people in 2024, which would result in an increase in esports revenue due to the larger audience engagement.1 The global esports betting market size is expected to grow at a CAGR of 13.67% from US$7.76 billion in 2019 to US$18.5 billion by 2026.2 According to Entain plc, skill-based wagering, which allows casual gamers to place bets on their own game-play, will generate US$10 billion in revenue for operators by 2025, which would make up the largest market share for esports betting revenue.3
These industry statistics underscore the significant market potential for an esports and gaming company like Tiidal Gaming.
Our technology division, operated under Sportsflare, offers esports betting products and technology for sportsbooks. It is also one of the first business-to-business ("B2B") skill-based wagering and odds provider on popular video games, which should allow the Company to gain a first mover advantage in this important and growing segment of the betting market. In addition, Sportsflare currently has the first and only 'Betbuilder' (i.e., same-game parlay) solution designed for esports.
Client Portfolio: 16 B2B integrations with sportsbooks, betting websites, and platform providers across different 10 countries
Primary Revenue Channels: Esports betting odds, 'Bet-on- Yourself' and Betbuilder
Technology: Artificial intelligence research and models cited by Amazon, Alibaba, and Zillow
Coverage: CS:GO, League of Legends, Dota 2, Fortnite, Call of Duty and Valorant with support for many more in the pipeline
Through Sportsflare, the Company intends to create a differentiated product suite that offers exceptional performance and economics through critical technology for sportsbooks. The Company intends to become the leading provider of B2B betting solutions. Given the growing audience that watches and places bets on esports events, the Company intends to continue capitalizing on its first-mover advantage to become a dominant player in the skill-based wagering market by increasing its product reach to sportsbooks. Skill-based wagering expands the market opportunity by allowing players to "bet on themselves" in a player vs. environment setup. This industry leading innovation means that anyone can create markets and play against the game itself which increases player engagement as no live opponent is required. This also represents a distinct opportunity native to esports and gaming and a major growth area in the coming years.
In addition to Betbuilder and skill-based-wagering (Bet-on-Yourself), the Company plans to develop and distribute its micro-markets product (opening up next-event in-game markets) to its client base and eventually convert its proprietary Bet-on-Yourself solution into a turnkey white-label offering.
Our media division focuses on content, community, and competition. Our core asset, Lazarus Esports, was founded in 2010 as Canada's first professional esports organization. It is ranked as Canada's top professional esports team by historical earnings. It offers omni-channel opportunities to brands and sponsors to access its fanbase and community and be a bridge to partners to reach the coveted next generation consumer, consisting of Gen Z and millennials, through influencer advertising, product placement and other synergistic solutions.
In recent months, partnerships have been established between Lazarus and other brands, including a sponsorship agreement with a wholly-owned subsidiary of CoinSmart Financial Inc., a leading Canadian cryptocurrency asset trading platform, and SummaForte Inc., a leading esports health performance brand that offers CBD infused kinesiology tape and performance mix, as well as a sponsorship with online sports betting platform BetWarrior.
Historical Winnings: US$5.2 million
Partnerships: Consumer-focused and gaming-related brands, which include SummaForte, CoinSmart, BetWarrior and NeuBrands
Esports Ranking: #1 in Canada, top 15 in North America and #31 globally
Esports Teams Q4 Update: Lazarus North American Apex team qualified for the ALGS Pro League while the Eumena LZR Crossfire team qualified for the CFS 2021 Global Championships in Korea and will be competing for US$860,000 during the 1st week of December
Community: Steadily grown our content and media team with 30+ content creators and 23+ professional gamers (many of whom also produce live or post production content). Lazarus talent has a combined 8.3+ million followers across social media platforms and nets more than 20 million social media engagements on a monthly basis
Our media operations will look to further onboard North American content creators who have established a large and/or deep fanbase and produce quality esports or gaming content to increase fan engagement. The Company will look to explore certain opportunities such as hosting and producing esports tournaments or other types of proprietary content for potential sales and distribution to sportsbooks or other media companies.
Significant Insider Ownership and Long-Term Alignment
Of note, the Company has significant insider ownership and long term alignment. With approximately 45% insider ownership, Tiidal insiders have, in addition to exchange escrows, all signed 12-18 month no-selling lockups with all prior private company shareholders being subject to a long-term escrow release schedule over the next 18 months.
About Tiidal Gaming
Tiidal Gaming is a leading media and technology platform enabling next generation engagement in esports and gaming. We are positioned at the intersection of gaming, media, and betting and enable our partners to create positive, engaging, and immersive fan and consumer experiences through our industry-leading media and technology offerings. With deep industry roots and expertise, Tiidal is focused on the next generation of fan and consumer and building the future of game-based entertainment. For more information, please visit www.tiidal.gg.
For more information, please contact:
Chief Executive Officer, Tiidal Gaming
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104943