Press Release

Ten Year Exclusive License for Video Games Now Part of this Joint Venture

JV Builds on Success of Le Mans Esports Series and 24 Hours of Le Mans Virtual Esport Event

MIAMI, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, today announced an important update to its joint venture agreement with its strategic partner, the Automobile Club de l’Ouest (the “ACO”), which will now see the Le Mans Esports Series Ltd create, develop and publish video games, in addition to esports, based upon the iconic 24 Hours of Le Mans and FIA World Endurance Championship.

This updated joint venture replaces the original agreement entered into between Motorsport Games and ACO in 2019 and extends the agreement to a ten-year rolling license.  

The agreement follows the success of the Le Mans Esports Series and 24 Hours of Le Mans Virtual event in June 2020. The 24 Hours of Le Mans Virtual saw 200 of the world’s best drivers, both real world and virtual, racing online for the title. A huge global audience enjoyed the 25-hour show on many mainstream broadcast channels such as Eurosport, ESPN, Sky Sports and J-Sports with further support on OTT such as Motorsport.tv and other online streaming platforms.

Dmitry Kozko, CEO of Motorsport Games, stated, “The 24 Hours of Le Mans Virtual in 2020 was the perfect illustration of what the partnership between Motorsport Games and the ACO can create. We are delighted to extend our agreement to include the creation of endurance video games based upon the 24 Hours of Le Mans and FIA World Endurance Championship, while also extending the length of our partnership and increasing the scope of our esports offering.

“On the heels of our recent IPO, this is one immediate step in further prioritizing major market opportunities with valued long-term and iconic partners like the ACO,” concluded Kozko.

Pierre Fillon, President of the Automobile Club de l’Ouest, added, "For the past 2 years the ACO, in joint venture with Motorsport Games has embarked on a major E-sport strategy.  Last June, the Virtual 24 Hours Le Mans marked an important milestone in this programme. Now, the aim of this partnership is not only to propose an attractive virtual Le Mans Series but also to create a game dedicated to the 24 Hours Le Mans, accessible to all enthusiasts. It is essential for the ACO to continue to propose a major motorsport series especially with the imminent arrival of the Hypercar category and in several years the introduction of hydrogen, while at the same time developing an ambitious E-game programme."

Gérard Neveu, CEO of Le Mans Esports Series, commented, “Motorsport Games has demonstrated its passion, expertise and commitment to the ACO and the FIA World Endurance Championship. This extension of the joint venture was the natural next step in our partnership. We look forward to working together for many years to come to create best-in-class racing games and esports that reflect the values and quality of the iconic Le Mans brand.”

More news about the forthcoming projects from Motorsport Games, including Le Mans, will be revealed in the coming months. For more information about Motorsport Games visit www.motorsportgames.com and follow our social media channels: Facebook, Twitter and LinkedIn.

About Motorsport Games:

Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for NASCAR, 24 Hours of Le Mans, Formula E, BTCC and the FIA World Rallycross Championship, among others.
For more information about Motorsport Games visit: www.motorsportgames.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to what the ultimate impact of the COVID-19 pandemic will have on Motorsport Games and its operations and whether the Company will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Games’ ability (or inability) to maintain existing, and secure additional, licenses and contracts with the sports series; (ii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Games’ business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Games’ business; (vii) Motorsport Games’ ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent registration statement on Form S-1 and current reports on Form 8-K filed by Motorsport Games with the Securities and Exchange Commission. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com