Kennett Square, PA , Jan. 11, 2018 (GLOBE NEWSWIRE) -- Good Gaming, Inc. (OTC PINK: GMER) (the “Company”) CEO David B. Dorwart is pleased to provide his latest monthly corporate update for the month of December 2017 through the issuance of this letter to shareholders.
David B. Dorwart, CEO, stated as follows:
As promised, below is a quick update about the progress we have made and continue to make towards growth, profitability and scale.
Minecraft Division
As we closed out 2017, December was a solid month for Minecraft as the division continues to grow according to our expectations. We have continued to grow revenue through player interaction at a slow and steady pace, which has enabled us to show consistency with our growth month over month. As Minecraft players know, this is not an easy feat. Building components within a game where the players feel there is enough value to buy them, is not easy. There are more than 40,000 Minecraft servers available to play, so building a server where the players feel “Welcome, Wanted and Important” is validation we are on the right track with the improvements made to our Good Gaming Minecraft server.
At the beginning of September, we set several goals to achieve by the end of the year and I am happy to report we have exceeded these goals.
A few highlights:
- We launched our Supreme rank with great success and orders continue to have a positive impact on our revenue.
- We launched a new Santa product which was extremely well received by the market.
- We developed and launched limited edition Cosmetic Crate Keys which have been extremely popular.
- We developed two Minecraft Mods which are exclusive to Good Gaming and have enable us to increase our player base.
- Transactions increased to more than 1,000 individual transactions. December also brought a new high concurrent player count with 699 players online at once. Since then, we have already broken that record in the first week of 2018 with a concurrent player count that has exceeded 800 players.
- In December we exceeded $10,000 in revenue for the first time.
As much as I am happy with our progress on our main Minecraft server within this Division, I have always maintained that scaling one server would be a slow growth vs. purchasing already up and running servers with a fan base already associated with it. So, with that strategy in mind, we found and purchased two additional Minecraft servers. Our teams are in full gear putting their magic touches to them. I am confident that these will again allow our revenue per server to scale much quicker than having just one server. Soon, we expect to enjoy multiple revenue streams from these servers.
In preparation for scaling this division with multiple servers, we will be developing a Minecraft lobby where our players will be able to access all content. We are very excited about this development and believe it will open significant opportunities that will allow us to scale our business.
Tournaments and League
This is a tough area of the business to provide an update on. First, let me say that I am excited about our strategy and believe that it’s the right strategy within this gaming sector to focus on. At this point, I am clearly limited in stating what our specific strategy is, or any general details. Crazy as it sounds, this is a very competitive market and we believe we will need a jump on our competition in order to penetrate and implement a successful strategy in this sector of the esport industry. I trust, all potential investors and shareholders in our Company will understand the importance of us keeping these cards close to our vest.
With that being said, we can state the following:
We have continued to evaluate opportunities in this space and are currently developing our in-person product for launch. We have finished the preliminary development of our product, and will be reaching out to people within our focused communities to get comments on how we can fine tune our product. We are very excited about our ability to serve a vastly underserved market and believe this new product will be extremely well received.
So, that’s the update on this. Vague as it is, it’s intentional.
LAN Centers
As I have mentioned before, we like this space, yet find it difficult to find the right business model for us to scale.
We have continued to have discussions with people interested in the LAN Center space. We are looking to partner with the right people in the right situation. The LAN Center business is a very difficult business to succeed in, and this makes choosing the right partners and using the right model imperative. We will not invest in this space until we feel we have perfected a formula that will allow us to be successful in this field.
In conclusion, we have made great progress since taking over the operations in August 2017. We feel that we have figured out a formula that allows us to be successful in Minecraft and will soon figure out other avenues in additional sectors, which will also allow us to be profitable in the esport and gaming space. We also continue to evaluate various opportunities which we feel would synergize with our current operations and help us grow. After taking over a very difficult operation in 2017, we look forward to a greater and more prosperous 2018 that we believe will include growth, multiple revenue streams and eventual net income.
Until next month, game away!
David B. Dorwart
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About Good Gaming:
Good Gaming is a leading competitive online tournament gaming and social network platform targeting over 250 million esports players and participants worldwide who want to communicate with each other, develop strategies and compete at novice, competitive and professional levels. Depending on a Gamer’s level of skill, players have the ability to win tournaments which include prize money, gifts and raffles. Good Gaming recently confirmed its partnership with one of the world's leading games publishers and is launching a series of tournaments in 2017. The esport industry has experienced exponential growth going from $500 million to $1.2 billion over the last two years with industry analysts forecasting a $5 billion global industry by 2020.
Safe Harbor
This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Good Gaming Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Good Gaming Inc.’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Good Gaming Inc.’s filings with the Securities and Exchange Commission.