Press Release

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MSGM Rings NASDAQ Closing Bell

Motorsport Games 1 year IPO Listing

CEO Dmitry Kozko rang the closing bell on January 12, 2022

MIAMI, Jan. 12, 2022 (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, rang the closing bell today at the NASDAQ Stock Exchange, marking its one year anniversary of its initial public offering on the exchange. CEO Dmitry Kozko represented the Motorsport Games team.

“Ringing the closing bell for the NASDAQ is a tremendous honor and represents the culmination of all the hard work and progress that we’ve made as a publicly traded company this past year,” said Dmitry Kozko, CEO of Motorsport Games. “This is a true reflection of our amazing employees, board members, advisors, partners and most importantly, our community of gamers and esports enthusiasts around the world. This year alone, we’ve launched our newest flagship NASCAR game, the first-ever NASCAR title on Nintendo Switch, acquired amazing companies and IP, announced partnerships with the likes of INDYCAR, continued to scale our robust esports offerings and so much more. Into 2022, we are well-positioned to continue developing, with a goal to elevate the quality standard in entertainment and ensure a world-class status for Motorsport Games.”

To watch a recording of the ringing of the NASDAQ bell please click here.

To keep up with the latest Motorsport Game news, please visit www.motorsportgames.com and follow on Twitter, Instagram, Facebook 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, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. For more information about Motorsport Games, visit www.motorsportgames.com.

Forward-Looking Statements
Certain statements in this press release which are not historical facts are 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements 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. These forward-looking statements include, but are not limited to, statements concerning: (i) the Company’s belief that it has made progress as a publicly traded company this past year; (ii) the Company’s expectation that into 2022, it is well-positioned to continue developing, with a goal to elevate the quality standard in entertainment and ensure a world-class status for Motorsport Games; and (iii) the expected future impact of new or planned products, features, offerings or events, and the timing of launching such products, features, offerings or events. 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 (i) difficulties, delays or less than expected results in achieving the Company’s growth plans, objectives and expectations, such as due to a slower than anticipated economic recovery and/or the Company’s inability, in whole or in part, to continue to execute its business strategies and plans, such as due to unforeseen difficulties in maintaining existing licenses, and securing additional licenses with various racing series and/or difficulties in attracting and retaining qualified employees and key personnel; (ii) Motorsport Games experiencing difficulties and/or delays in enhancing the quality of its product offerings that could negatively impact its 2022 development plans, such as due to difficulties or delays in launching new products, higher than anticipated costs incurred in developing and launching such products and/or less than anticipated consumer acceptance of Motorsport Games’ product offerings; and/or (iii) difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic and related economic lockdowns and government mandates; unanticipated operating costs, transaction costs and actual or contingent liabilities; adverse effects of increased competition; and unanticipated changes in consumer behavior, including as a result of general economic factors, such as increased inflation. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. 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. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, which may be found at www.sec.gov and at ir.motorsportgames.com, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q filed with the SEC during 2021, as well as in its subsequent filings with the SEC. 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. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on these websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com

Press:
ASTRSK PR
motorsportgames@astrskpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1382f341-f055-4b88-9d09-bc6f35792e73