Esports Mogul Asia Pacific Limited (ASX: ESH) operates as a media company. The company builds and provides digital games and video content. Esports Mogul Asia Pacific serves customers globally.
The company today, on 8th April 2019, has released an update that the group has officially entered the Australian market, launching its first ever significant cash prize tournament series with a famous game title Apex Legends. The Australian Apex Open will run from 15 April to 19 May with a prize pool of AU$35,000 on the line for the top teams.
Apex Legends is a battle royale game developed by the Respawn Entertainment, which was released to PC and console in February this year. Just eight hours after the initial launch, Apex Legends had 2.5 million players, and later that month, it hit 50 million players mark. Since its start, Apex Legends has taken out multiple top rankings, such as the most watched game on Twitch and the second most popular PC game worldwide for the month of February.
Following the company’s market-leading technology success in Southeast Asia with their Silver Slam tournament series, entering the new markets, such as Australia, is the next step in strategic growth and globalisation. The Australian market has a substantial revenue potential and hence listed as one of the top gaming markets in the world for the year 2018.
The Australian Apex Open is an essential way for the company to drive new active users to the Mogul tournament platform, increasing brand awareness and ultimately driving revenue through a combination of sponsorship, VIP subscriptions and paid entry tournaments. This PC exclusive event will run qualifying tournaments for four weeks, where teams must compete in a minimum of four matches to earn points. The top 20 teams will progress to the finals to compete for a share in AU$35,000. This tournament has been specifically structured to not only drive user acquisition but also to encourage the repeat users.
Mogul’s Chief Strategy & Commercial Officer, Mr. Jamie Skella, said that the Australian Apex Open is the first big money tournament for all Australians to compete in a select group of invitees and it’s free to enter. He also stated that they are excited to bring Apex to Australia in a big way and expect to be running similar regionally focused launch events to drive early exposure in other new markets as the company enters them in the near future.
In another announcement, the company has briefed about its Securities Trading Policy, wherein they have mentioned purpose and all the necessary details about the policy. In a report published on 4th April 2019, the company had informed about its partnership with Avant. Also on 1 April 2019, the company announced partnership with Melbourne Melee to support strategic grassroot activity.
On the stock-performance front, the stock has posted a YTD return of -25%. The company also has posted returns of -50% over the past six months. At the time of writing, i.e. on the 8th April 2019 AEST 3:30 PM, the stock of the company is trading at a price of A$0.013, up 8.333% during the day’s trade with a market capitalisation of ~A$15.39 million. It had a 52-week high price of A$0.012, with an average volume of 2,769,784 approximately.