TIDMGFIN

RNS Number : 9705W

Gfinity PLC

24 August 2022

Gfinity launches Athlos Game Technologies, targeting the $127bn games services sector

Electronic Arts ("EA") veteran Todd Sitrin appointed strategic advisor to Athlos Game Technologies leadership team

Gfinity plc (AIM: GFIN), a world leading esports and gaming solutions provider today announced the launch of Athlos Game Technologies ("Athlos"). Athlos provides its clients with a tournament-based platform that leverages the power of competitive gaming to deepen player engagement; to lower player churn; and to increase average revenue per user (ARPU).

The Athlos product builds on Gfinity's expertise in powering competitive programmes for organisations such as the Premier League and the global esports programme of leading mobile games. Work continues on development of deeper automation and scale, with the product being used 73 million times in the last 30 days. Athlos has a growing number of clients on recurring annual contracts and a strong pipeline of prospective future clients.

Athlos is 100% owned by Gfinity. The Company is currently exploring partnership opportunities with organisations with experience in delivering and successfully managing SaaS business models.

Appointment of strategic advisor

The Company is also excited to announce the appointment of Todd Sitrin as a strategic advisor to the Athlos leadership team. Todd is a video game veteran with more than thirty years of experience and global leadership in interactive and linear entertainment, esports, media, sports, and technology. He has launched and supported hundreds of live service and traditional games as well as led critical, strategic growth initiatives at Electronic Arts for 20 years, most recently as the Senior Vice President & General Manager of EA's Competitive Gaming Entertainment. Todd's experience spans many of the world's leading games including FIFA, Apex Legends, Madden NFL, The Sims and Battlefield.

Gfinity Chairman, Neville Upton said: "Athlos Gaming Technologies is aligned with Gfinity's strategic focus on generating value by owning, scaling and monetising communities and our owned tech IP. In-game, live-service revenues are a key focus of the industry. It amounts to $127bn p.a., more than double the value of up-front game sales revenues. Engaged competitive gamers can spend 30X in game compared to the non-competitive gamer. This is where Athlos delivers by dramatically increasing the number of engaged competitive gamers in any game whether on mobile, PC, or console. The launch of the platform supports our confidence for performing in line with market expectations."

He added: "We are delighted to welcome Todd Sitrin to the Athlos team. His extensive knowledge of the game publisher universe and impressive track record of delivering major strategic initiatives will make a massive impact as we grow Athlos into a product that is built into tens of 1000's of games worldwide. By adding Todd to an already strong leadership group, we are pushing forward with our exciting plans at pace. Athlos plays in one of the fastest growing segments of the gaming industry and Todd's expertise will be invaluable to helping it be a success."

-Ends-

Enquiries:

Gfinity plc John Clarke, CEO, www.ir@gfinity.net

Canaccord Genuity Limited (AIM Nominated Adviser & Broker)

Tel: +44 (0)207 523 8150

Bobbie Hilliam / Patrick Dolaghan

About Gfinity

Gfinity (AIM: GFIN) is a market-leading digital media publisher and technology company in the rapidly growing esports and competitive gaming sector. Created by gamers for the world's three billion gamers, Gfinity has a unique understanding of this fast-growing global community. It uses this expertise both to provide advisory services and to design, develop and deliver unparalleled experiences and winning strategies for game publishers, sports rights holders, commercial partners, and media companies. Gfinity connects its partners with the esports community in authentic and innovative ways. This consists of on--and-off-line competitions and industry--leading content production. Relationships include Activision Blizzard, EA SPORTS, F1 Esports Series Red Bull, Abu Dhabi Motorsport Management and Coca Cola. Gfinity connects directly with tens of millions of gamers each month through its digital media group, Gfinity Digital Media. Gfinity Digital Media includes websites such as: Gfinityesports, RealSport101, Epicstream, Stock Informer, StealthOptional, RacingGames.gg, MTGRocks.com and their respective social channels. All Gfinity services are underpinned by the Company's proprietary technology platform, delivering a level playing field for all competitors and supporting scalable multi-format leagues, ladders, and knockout competitions.

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August 24, 2022 02:00 ET (06:00 GMT)

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