eSports
Skillz Becomes First Publicly-traded Mobile Esports Platform
Skillz Inc., the leading mobile games platform connecting players in fair, fun, and meaningful competition, became the first publicly-traded mobile esports platform, following the completion of its combination with special purpose acquisition company Flying Eagle Acquisition Corp. (NYSE: FEAC). The combined company is named Skillz Inc. and its common stock will begin trading tomorrow on the New York Stock Exchange under the ticker symbol “SKLZ”. With $250 million in cash and no debt on the balance sheet, Skillz is poised to capitalize on the massive growth expected in mobile gaming.
“We built Skillz on the founding belief that esports are for everyone, and have made significant progress toward our vision of enabling everyone to share in the future of competition,” said Andrew Paradise, CEO and founder of Skillz. “We stand at the intersection of mobile gaming and esports, perhaps the two most exciting growth opportunities of the next decade. I thank the entire Skillz team for their dedication, passion, and creativity, which have led us to this incredible moment on our journey to build the competition layer of the internet.”
With just a fraction of the world’s 2.7 billion gamers on its platform today, Skillz has a long runway for growth in building its service for the 10 million game developers globally. Skillz is uniquely positioned to capitalize on the rapidly expanding mobile gaming market, which is expected to more than double by 2025 to $150 billion. As Skillz moves beyond casual esports into new genres, adds new monetization models, and enters new geographies, the company’s addressable market will increase substantially. Going international is a significant opportunity for Skillz. The international market is four times larger than the North American market and represents less than 10% of Skillz revenue today.
Skillz has pioneered the future of the gaming industry, enabling developers to monetize their content five times better than ads or in-app purchases. The company’s platform enables game developers to expand the reach of their games and scale their businesses. Leveraging powerful network effects built out of the platform’s data science, Skillz drives more user engagement, higher conversion, and monetization. Core to the company’s proprietary advantages is patented anti-cheat and anti-fraud technology designed to ensure trust and fairness.
“I’ve had a front row seat to the video game and entertainment industry’s evolution over the past two decades, from my role as founding investor and board member of Bethesda Games to recently taking DraftKings public,” said Harry Sloan, Chairman of Flying Eagle. “We believe that Andrew has positioned Skillz to lead the convergence of mobile, gaming, and player enablement into the future of entertainment itself.”
This announcement comes on the heels of a year of continued success. Skillz saw consistent growth and further expanded collaborative efforts with game developers, major brands, influencers, and nonprofit organizations, such as the American Cancer Society, World Wildlife Fund, and the NAACP.
The transaction includes the $158.5 million PIPE investment led by Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman. As previously announced, Skillz founders CEO Andrew Paradise and CRO Casey Chafkin will continue to lead the company. They will be supported by Skillz’s highly experienced team, including CTO Miriam Aguirre and CFO Scott Henry.
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eSports
GIANTX unveils its team for the Spanish Superliga of League of Legends
The global esports organization GIANTX has officially presented the roster for its League of Legends Superliga team, the most prestigious esports competition in Spain, organized by the LVP. The roster includes Feisty (midlaner) and Aetinoth (ADC), who continue for another year after establishing themselves as key players for the organization, and newcomers Badlulu (toplaner), Ferret (jungler), and Lospa (support).
The team, known as GIANTX Pride, will be led by Fearless, a veteran coach who has already won three Superliga titles with GIANTX. After previous stints with teams like Guasones and Rebels, Fearless returns to lead this young and promising roster as they pursue the organization’s long-awaited eighth Superliga trophy, with the season set to begin in January 2025.
The roster was revealed during an event at the Home of GIANTX in Málaga, attended by over 150 fans and supported by Opel, the team’s main partner in the Superliga. The event featured activities, giveaways, and a showmatch against Barça Esports, where fans got a first glimpse of the team in action.
Feisty (South Korea, 2003) and Aetinoth (Turkey, 2005) return for another year, having gained recognition as rising talents with potential for the LEC, Europe’s premier competition in which GIANTX also competes. Badlulu (France, 2002), with prior experience in the Superliga at CASE Esports, joins as the toplaner. Ferret (Turkey, 2001), a promising jungler from the Turkish scene, comes from FUT, while Lospa (South Korea, 2002), a former Iberian Cup champion, joins as support after training in Gen.G Academy.
GIANTX Pride is the most decorated organization in Superliga LVP history, with seven titles to its name. The last victory came in the summer of 2021, and the team is determined to add the elusive eighth trophy to its collection. The Superliga for 2025 will feature ten teams, including Barça Esports, Guasones, Los Heretics, LUA Gaming, Movistar KOI, Ramboot Club, UCAM Esports, VENI VIDI VICI, and ZETA, competing across three splits—winter, spring, and summer.
The LVP, part of Grupo Mediapro, has introduced changes to the Superliga’s format for 2025. The updated calendar will be released soon, setting the stage for another thrilling season.
The post GIANTX unveils its team for the Spanish Superliga of League of Legends appeared first on European Gaming Industry News.
eSports
GRID Joins IBIA as an Associate Member, Strengthening Esports Integrity
GRID, an esports data platform, has officially joined the International Betting Integrity Association (IBIA) as a first esports-focused Associate Member. This collaboration signifies a pivotal moment for esports integrity, aligning GRID with IBIA and its globally recognized integrity-focused members, who monitor over $300bn in sports bets per annum and have a growing focus on esports betting.
With this partnership, GRID and IBIA are committed to collaboratively addressing any integrity issues in esports, fostering trust across stakeholders, and setting a benchmark for excellence in the ecosystem. GRID has been a certified member of IBIA’s Data Standards program since 2022, actively contributing to the development of tailored esports integrity protocols. This membership further underscores GRID’s dedication to transparency and collaboration in combating betting-related corruption within esports.
Since 2018, GRID has operated an internal integrity department pioneering official data-driven solutions for esports. This makes GRID one of the first companies to monitor tournament and data integrity in the competitive sports sector and actively flag and report suspicious behavior, enabling it to collect a large database of integrity reports and insights.
IBIA is a not-for-profit body that protects regulated sports betting markets from match-fixing. It represents over 50 of the world’s leading betting companies which operate over 125 sports betting brands. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets using transactional activity linked to individual customer accounts.
Under the partnership, GRID and IBIA will share information relating to suspicious esports betting and potential match manipulation from their respective monitoring and intelligence platforms. IBIA members will also benefit from free access to wider integrity-focused resources supplied by GRID.
Moritz Maurer, CEO of GRID, commented: “Integrity is at the heart of GRID’s mission. By joining IBIA as an Associate Member, we are taking a definitive step toward establishing esports as a trusted and credible industry. This partnership enables us to further our efforts in promoting transparency, reducing risks associated with esports betting, and strengthening operational practices across the ecosystem.’’
Khalid Ali, CEO of IBIA, said: “We are delighted to welcome GRID as an Associate Member of IBIA. This partnership is a landmark for the esports sector and reflects our commitment to expanding our integrity initiatives into new markets. GRID’s expertise in esports data monitoring and integrity standards is an invaluable asset in our shared mission to combat betting corruption globally.”
The post GRID Joins IBIA as an Associate Member, Strengthening Esports Integrity appeared first on European Gaming Industry News.
eSports
ComeOn Group and Astralis unite to drive esports engagement in the Nordics
ComeOn Group announced a sponsorship partnership between its flagship brand ComeOn! and Denmark based Astralis, one of the most esteemed esports organisations globally. As a global leader in esports, Astralis is providing a vibrant and engaging esports experience that is aligned with ComeOn!’s brand experience and is further enhanced by its focus in providing a leading esports betting destination.
As the official sponsor of Astralis, ComeOn! will be prominently featured across all of their platforms, including social media, team events, and competitive gaming content, boosting their brand exposure in key global markets with a focus on the Nordics. ComeOn! is already known as a vibrant brand in the Nordics and with the increased brand visibility it will be put at the heart of the fast-growing esports scene.
ComeOn Group continues to invest in its Sportsbook product experience that is powered by its proprietary sportsbook platform, where esports holds an important strategic market opportunity with its ever growing demand.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited to team up with Astralis as this collaboration not only allows us to showcase our innovative Sportsbook platform but also strengthens our ties to the esports community. This partnership is very much in the heart of one of the fastest growing betting markets globally. Esports has seen great demand by our audiences, and we want to provide the best betting experience for our customers. This partnership is also a testament to our localisation and personalisation focus and by working together with Astralis, we can deliver unique experiences that resonate with our players and elevate the entertainment experience around competitive gaming.”
Mads Rasmussen, Commercial Director at Astralis, said: ”We are proud to present ComeOn Group as our new global partner. This partnership holds great significance for Astralis both as an organization and as a business, and we look forward to bringing the agreement to life, benefiting the vast majority of our fanbase – who are adults. We have undergone a long and very positive process with ComeOn, and the fact that they are European-based with licenses in all our key markets, including Denmark, has been a decisive factor in our decision. Astralis fans, both in Denmark and internationally, can look forward to an innovative new digital activation, which promises to deliver an exciting and engaging experience.”
The post ComeOn Group and Astralis unite to drive esports engagement in the Nordics appeared first on European Gaming Industry News.
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