Kennett Square, PA, March 13, 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 February 2018 through the issuance of this letter to shareholders.
Below is a quick update about the progress we have made and continue to make towards profitability and scale for Good Gaming.
Minecraft Division
For the first time our Minecraft division revenue was down in February. This was due to a combination of factors including less days in the month, school being back in full force after the holidays, and our developers concentrating on the re-launch of our recently purchased Minecade server. For the month, we saw a 33% decline in revenue. However, microtransactions were only down 10%, and player counts remained consistent.
For the month of March, we are pleased to announce that we have several large projects launching. These include the Minecade server as well as our version of the very popular Battle Royale mod exclusive to Good Gaming. As these products come online and become publicized, we believe that revenues will improve over the next several months. We are very excited about the future of this division.
As I mentioned last month, we expect Minecade to come online with all refreshed content in March 2018. This server will focus on Minecraft mini-games including our version of Battle Royale. We are very excited to launch this server to our existing player base as well as to the legacy Minecade users.
Olimpo, our recently acquired Latin server, is a Spanish language server which we are extremely excited to launch during the second quarter of this year. At one time, Olimpo was one of the largest Spanish servers in the market. We are currently building our infrastructure to be able to launch our Minecraft programs to the Spanish-speaking community and provide them with a great Minecraft experience in their native tongue.
Tournaments and Leagues
We are currently looking for the right partners to launch this product. We have identified several potential partners and are beginning preliminary discussions to gauge interest and feedback on our proposed structure. We anticipate this sector of our business model to take a longer time frame to initiate, as it will take time to implement our proposed system. However, once we identify the right partners and start the implementation of our model for this division, we expect great things to come from this division.
Virtual Reality Centers
We continue to spend time reviewing the virtual reality (VR) model, which I like more than a typical LAN Center. We have explored our options in this space and will be selecting our partner this month. After extensive research in both virtual reality (VR) and augmented reality (AR) we are confident that this is the future of competitive game play and where we need to be. We are excited with the opportunity that these technologies bring and look forward to establishing a strong presence in this space going forward.
Uplisting to the OTCQB Platform
In our effort to increase transparency to our growing shareholder base, we have finalized our application to be uplisted to the OTCQB. We are excited about our plans moving forward with GMER and continue to expect growth, new partners, new businesses and with that, uplisting makes sense at this time.
In conclusion, we have made excellent progress moving the chains down the field in our Minecraft Division. Although our revenue was soft in February, we are not worried with any degradation of revenue over the long term. We completely understand that Minecraft, along with gaming in particular, is seasonal in nature as well as cyclical.
I am proud of our development team and have a very high confidence level in their ability to scale the Minecraft Division into something financially meaningful for GMER. We also continue to make great progress with our vision of developing various models that will help us to diversify into Tournaments and Leagues, as well as the VR and AR space. As progress continues, we will be sure to keep our shareholders abreast of our milestones and any newsworthy events.
Until next month, game away!
David B. Dorwart
For more information please visit our website:
For more information on of our Premium Membership services:
https://www.good-gaming.com/membership
Social networks:
Twitter: https://twitter.com/GoodGamingInc
Facebook: https://www.facebook.com/goodgaminginc/?fref=ts
Investors Hangout: https://investorshangout.com/Good-Gaming-Inc-GMER-62551/
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.