U.K. BASED RETAILER TURNING FOCUS TO ESPORTS; RECENT TOURNEY PAID OUT 10X THE U.S. PGA (GOLF)
Game Digital Plc, (LON: GMD) the U.K. based console and video game retailer is turning its focus to Esports after reporting annual revenues of $1.1 billion, down 2.3% from last year. Esports is a rapidly growing arena, with the latest Dota 2 International tournament paying out a record $10.8 million in prize money, nearly 10x the amount Justin Rose won ($1.9 million) for besting the recent U.S. PGA. GMD is actively working to implement a change in strategy, reducing its overall retail footprint and introducing game hubs where customers can play online and compete in tournaments.
Howie Long-Short: Looking for a way to play GMD, without following the crowd? Sports Direct International, Plc (LON: SPD) owns 26% of the company.
Fan Marino: Why do video game players have/need a “backroom staff”? Do they act as trainers for their fingers? Runners for coffee? Emotional support?