Blue Star Capital plc Dynasty Esports Investment Update (1612B)
October 06 2020 - 2:00AM
UK Regulatory
TIDMBLU
RNS Number : 1612B
Blue Star Capital plc
06 October 2020
6 October 2020
Blue Star Capital plc
("Blue Star" or the "Company")
Dynasty Esports Investment Update
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, is pleased to provide the following update
regarding the activities of its investee company Dynasty eSports
Pte Ltd ("Dynasty").
During Q3 2020 Dynasty signed three separate SaaS agreements to
provide its white-labelled platform to two esports franchise
operators and to the largest telecoms carrier in the Middle East to
launch a branded Dynasty platform in three of the region's key
gaming and esports countries in November 2020.
These agreements are expected to provide contracted SaaS
revenues for Dynasty of approximately US$2.8 million over the next
year. In addition to the contract revenue, Dynasty is progressing a
number of prospective platform partnerships which will, should they
be signed, on current terms make Dynasty profitable at the
operating level.
Dynasty's first partner platform has gone live in Malaysia with
a soft launch of its proprietary EPM platform with the Malaysia
eSports Federation ( www.mesf.gg ). Dynasty expects to further
develop the platform in Q4 2020 delivering an enhanced tournament
engine and a fully embedded e-commerce gaming shop that includes a
partnership with Boost, Malaysia's largest eWallet. Significant
promotional and marketing activities are expected to commence later
this year.
As a result of the progress to date, it is the Dynasty's
intention to strengthen the management team and board and
conversations are ongoing with a number of experienced and
successful esports executives from the region.
Blue Star currently owns 13 per cent of Dynasty and its stake is
valued at GBP1.3m based on the company's most recent
over-subscribed fundraise at approximately GBP10m. This valuation
was prior to the signing of any SaaS Agreements and before the
Malaysian eSports Federation platform went live.
Tony Fabrizi, CEO of Blue Star said, "Dynasty is making rapid
progress and today's update confirms the significant value that's
being created. Having secured a landmark contract win in Malaysia
in May 2020, management has now secured another major contract in
the Middle East and appear confident of continuing this strong
progress as their esports platform gains traction internationally.
We remain confident that Dynasty will become a sizeable business
over the next few years and look forward to updating the market on
its progress."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Blue Star Capital plc +44 (0) 777 178 2434
Tony Fabrizi
Cairn Financial Advisers
LLP +44 (0) 20 7213 0885
(Nominated Adviser & Broker)
Jo Turner / Liam Murray
About Blue Star Capital plc
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include a 27.7% holding in
SatoshiPay, a payments business using blockchain technology;
investments in 7 early stage esports companies with shareholdings
ranging from 5.9% to 18% and a 0.9% investment in Sthaler, an
identity and payments technology business which enables a consumer
to identify themselves and pay using just their finger.
Forward Looking Statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCMABLTMTBMBMM
(END) Dow Jones Newswires
October 06, 2020 02:00 ET (06:00 GMT)
Blue Star Capital (LSE:BLU)
Historical Stock Chart
From Sep 2024 to Oct 2024
Blue Star Capital (LSE:BLU)
Historical Stock Chart
From Oct 2023 to Oct 2024