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New Wave Esports Reports Q2/2019 Results

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NEW WAVE ESPORTS CORP. is pleased to announce that it has published financial results for the fiscal quarter ended September 30, 2019, which is the final quarter before the Company completed its reverse takeover transaction (the “RTO”) on October 24, 2019.

The Company’s current business is primarily conducted through its wholly-owned subsidiary (“NW”), which was acquired by the Company as part of the RTO. The following results are those of NW only and do not take into account the RTO.

For its second fiscal quarter ended September 30, 2019, NW is reporting a comprehensive profit from operations of $69,424 (equivalent to $(0.00) per-share basic and diluted), primarily due to unrealized gains of $658,425 in its portfolio. These were offset by expenses of $600,829. NW ended the quarter with a cash balance of $934,270 and investments valued at $1,755,272.

The above figures also do not include the Company’s cash balance of $1,370,985 at September 30, 2019, prior to completion of the RTO.

As a public company, New Wave Esports has changed its accounting policy to value its and NW’s investments at fair market value rather than book cost, to more accurately reflect valuation changes in the rapidly-developing esports industry.

“We are pleased to start reporting appreciation in our holdings in the last quarter, and are optimistic about our future performance as the esports industry evolves,” said New Wave Esports CEO Daniel Mitre.

 

Source: New Wave Esports


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New Wave Esports Reports Q2/2019 Results

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Recap of EEGS Webinar on AI’s Transformative Power in Gaming Industry Now Available On-Demand

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Following the successful conclusion of the Eastern European Gaming Summit’s (EEGS) inaugural webinar for the year, titled “Rolling the Dice on AI: How Artificial Intelligence is Reshaping the Gaming Industry,” attendees can now access the video on demand to revisit the insightful discussions and key takeaways. The event, held on February 19, featured a distinguished panel of industry experts who explored the significant impact of AI on player protection, regulatory requirements, and innovation within the gaming sector.

Moderated by Rossi McKee, Co-founder of Telematic Interactive Bulgaria and CT Gaming, the webinar offered a deep dive into the dual-edged role of AI in gaming, discussing how it can enhance player experiences while also creating new challenges for operators.

The expert panel included:

  • Paula Murphy – Head of Business Development, Mindway AI
  • Joseph Borg – Partner, WH Partners
  • Dr. Galia Mancheva – Founder and CEO, Ai Advy

The conversation highlighted the ongoing shift towards AI-driven solutions in gaming, emphasizing the need for ethical considerations and compliance with evolving regulations – especially with the implementation of the EU AI Act. Dr. Mancheva noted, “Operators working with personal data must understand how AI can enhance efficiency and ensure compliance with stringent legal requirements.”

Key takeaways from the webinar revealed that the future of the gaming industry hinges not only on the adoption of cutting-edge technology but also on the commitment to utilize it responsibly. “The real challenge for operators is not just adopting AI but using it ethically,” stressed the panel in unison.

For those who missed the live event, the on-demand video recaps critical insights on AI’s transformative potential in gaming, its implications for responsible gambling initiatives, and the regulatory landscape.

You can watch the entire webinar here: https://youtube.com/eegamingsummit

For more information on future webinars and events, stay tuned to EEGS’s official channels.

The post Recap of EEGS Webinar on AI’s Transformative Power in Gaming Industry Now Available On-Demand appeared first on European Gaming Industry News.

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Neela Mediatech Pioneers the Future of IP-Based Gaming in India with Gada Electronic

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Neela Mediatech, a trailblazing Indian gaming studio, is redefining the gaming landscape by leveraging beloved intellectual properties to create interactive entertainment experiences. By expanding the universe of Taarak Mehta Ka Ooltah Chashmah beyond television, the company has transformed the iconic show into a multi-platform gaming phenomenon.

The studio’s latest release, Gada Electronics, has emerged as a top game in mobile gaming, proving that nostalgia-driven storytelling combined with strategic gameplay can drive massive engagement. The game has achieved remarkable milestones, ranking #2 among all App Store games in India, surpassing PUBG, and also securing the #1 position in the Adventure & Simulation category on iOS. With over 5 million downloads across Android and iOS, Gada Electronics manages a D1 retention of 35% as well. With Gada Electronics, Neela Mediatech has set a new benchmark for Indian IP-driven gaming.

Unlike traditional simulation games, Gada Electronics allows players to step into the shoes of Jethalal Gada, one of India’s most beloved TV characters, as they manage and expand his iconic electronics store. The game integrates elements of business strategy, resource management, and decision-making, making it both entertaining and intellectually engaging.

India’s mobile gaming market has long been dominated by battle royale and casual games, but Neela Mediatech has taken a unique approach by harnessing local intellectual properties that deeply resonate with Indian audiences.

Commenting on this success, Mr. Asit Kumarr Modi, Founder of Neela Mediatech, said, “For years, Indian audiences have loved the world of Taarak Mehta Ka Ooltah Chashmah. With Gada Electronics, we’ve given them a way to engage with the brand in an interactive format. This success proves that Indian IP-driven gaming has the potential to rival global franchises.” With an established fan base, the game has witnessed exceptional user engagement, retention, and organic adoption, further demonstrating the power of homegrown IPs in India’s gaming industry.

The success of Gada Electronics reflects a larger transformation in India’s gaming sector. The country’s gaming market is projected to reach $8.36 billion by 2030, with simulation games alone crossing 1 billion downloads in 2023. Business simulation gaming is expected to grow from $2.5 billion in 2023 to $5.8 billion by 2032.

Mr. Harjeet Chhabra, CEO of Neela Mediatech, highlighted the shift in the industry, stating, “For years, Hollywood and global gaming giants have capitalized on IP-driven gaming—whether it’s Marvel, Star Wars, or Pokémon. India has an equally rich library of beloved franchises, and we are just scratching the surface of its gaming potential.”

Following the overwhelming success of Gada Electronics, Neela Mediatech is focused on expanding its IP-driven gaming portfolio. The company is working on new Taarak Mehta Ka Ooltah Chashmah-themed edutainment app for kids aged 2-6. Plans are also underway for interactive storytelling experiences featuring beloved TMKOC characters.

By seamlessly blending nostalgia, storytelling, and technology, Neela Mediatech is not just creating games—it is building a dynamic gaming ecosystem for Indian audiences. From television screens to mobile gaming, the future of IP-driven gaming has arrived, and Neela Mediatech is leading the charge.

The post Neela Mediatech Pioneers the Future of IP-Based Gaming in India with Gada Electronic appeared first on European Gaming Industry News.

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Flamenco Passion is a slot with a Spanish soul and an innovative prize system

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The leading online casino game provider in Spain, MGA Games, announces the launch of its new 5-reel slot, Flamenco Passion. This new game transports players into the world of flamenco with every spin. Available from February 24 in the .com markets and March 3 in Spain, this slot promises an immersive experience with stunning graphics, flamenco music, and exciting gameplay mechanics.

This new release offers 25 pay lines, Wild symbols, and an innovative dynamic prize system with Mini, Major, and Mega options. Additionally, players can enjoy free spins with the Mega Figure, which appears on the central reels (2, 3, and 4), increasing the chances of winning prizes. The excitement increases with the Mega Reel, a special feature that ensures dynamic gameplay.

The design and setting of the game capture the essence of flamenco and Spanish folklore, with a Typical Spanish aesthetic that is appealing to players of all nationalities. Flamenco music and sound effects enhance the immersion, making each game a true celebration of this tradition.

With this release, MGA Games reaffirms its commitment to innovation and quality in the development of 100% localized content slots. Flamenco Passion promises to captivate players and become a hit in online casinos worldwide. ¡Olé!

The post Flamenco Passion is a slot with a Spanish soul and an innovative prize system appeared first on European Gaming Industry News.

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