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Highlights
- Mighty Kingdom will work on a new mobile game with East Side Game Group.
- Today’s agreement is part of the partnership agreement signed between the companies in January 2022.
- During early trading hours, the shares rose almost 5% on ASX.
Gaming services provider, Mighty Kingdom Limited (ASX:MKL) shared today that it has entered into an agreement with East Side Games Group. Under the agreement, both companies will work on a new mobile game.
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About the East Side Game Group
East Side Games is a Canadian free to play (F2P) mobile game company that develops engaging games. The company’s headquarter is located in Vancouver, Canada, and the key markets are the European regions, Canada and the US.
East Side Game is listed on Toronto Stock Exchange (TSX) and the mid-tier OTC equity market (OTCQB). OTCQB generally lists developing and early-stage companies in the international market and the US.
IP led games are developed and published by the in-house team of East Side Games. The games are also developed through acquisition or partnership. East Side Games employs a data-driven live services “Ops” model to gain the player’s loyalty and retain them in games.
About the agreement between East Side and the Mighty Kingdom
Image source: © Hypermania37 | Megapixl.com
Mighty Kingdom and East Side games had inked a partnership agreement on 13 January 2022 for developing three games. These games were developed for global release in the current and next year. The contract signed today (5 April 2022) deals with the first of the three games. Once the game development is completed, it will be made available globally on Android and iOS.
As per the partnership agreement, which was signed in January, the games will use the game kit technology of East Side and will also be published by East Side.
On the development, Philip Mayes, CEO and managing director of Mighty Kingdom, said:
What does Mighty Kingdom do?
Mighty Kingdom develops its own games and also designs games with big brands such as Spin master, Moose Toys, Funcom, Mattel, Disney and LEGO. Headquartered in Adelaide, the company works with developers from Australia.
Share Performance of Mighty Kingdom
the investors reacted in a positive manner to the announcement as the shares gained 4.55% on the ASX at AU$0.120 per share (at 10:41 AM AEDT) with a market cap of AU$19.48 million. Today, the stock is in line with the ASX 200 Communication index (XTJ), 0.84% up at 11:12 AM AEST.
Since the company’s listing on 21 April 2021 till now, the shares have declined by 58.93%. The shares have dipped by 28.13% in 2022 till now, and in the last one month, the shares diminished by 17.86%.
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