Torque Esports Corp.

TSXV Exchange | Dec 12, 2019, 9:41 PM EST | Real-time price

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Millennial Esports Generating Strong Interest in Esports Racing with Global Competition Model

Company simultaneously working to maximize value of other assets in light of PASPA ruling

LAS VEGAS, May 22, 2018 (GLOBE NEWSWIRE) -- Millennial Esports Corp. ("Millennial" or the "Company") (TSX VENTURE:GAME) (OTCQB:MLLLF), a mobile video game publisher focused on Esports and Racing, today provided a corporate update covering the progress being made in growing the Gear.Club user base through global competitions as well as potential opportunities to leverage the company’s non-racing assets following the Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA). With interest in, and downloads of, Gear.Club growing in response to initiatives such as the recently completed #DriveAnF1Car competition and the PASPA ruling making possible new applications for the Millennial Esports Tournament Platform, the company is currently pursuing strategic growth on multiple fronts.

“Right now is a transformative time for the company. Racing as an Esport is a proven winner that is a perfect fit for a competition model and is loved by gamers and sponsors alike for its ability to provide thrills without violence,” said Alex Igelman, CEO, Millennial Esports. “Our Gear.Club mobile game continues to perform in line with expectations as we perfect our marketing, while our Eden Games division is on track developing world class mobile titles for major brands as well as for ourselves. Strategically we are in a good position as the other assets we have built over the years are more valuable today after PASPA and we are looking at strategic alternatives that are focused on our pioneering presence in Las Vegas, Nevada, the entertainment capital of the world.”

Gamers chase the chance to drive an F1 car with Gear.Club

Thousands of gamers recently chased their dream of driving a Formula 1 car thanks to leading mobile racing game, Gear.Club. The game’s #DriveAnF1Car Esports promotion was covered extensively across social media and even had its own feature on Sky News in the UK.

The top six gamers from the virtual competition will now head to the UK where they will compete head-to-head in real racing cars for the chance to drive a Formula 1 car. The six winners will join Instagram and YouTube star Yannimize (aka Yianni Charalambous), who recently won Gear.Club’s social media influencer competition and told his 1.2 million followers all about it.

“Anybody can build a mobile racing game but few can build a great mobile racing game,” said Mr. Igelman in discussing the growing popularity of Gear.Club amongst influencers and regular gamers alike. “The team at Eden Games has been building great games for twenty years and that experience shows in Gear.Club’s cutting edge graphics, realistic racing simulation, and fully immersive environment.”

Gamers from 158 countries competed in the Gear.Club #DriveAnF1Car competition – completing a total of 128,394 virtual laps for the chance to graduate to the Bedford finals. The winner of the Bedford competition, along with Yannimize the YouTube star, will drive a Williams FW33 F1 car in a once-in-a-lifetime experience held at Circuit Magny Cours - the former home of the French Grand Prix.

“To be able to go from the couch to the cockpit of a Formula 1 car by playing Gear.Club on your phone is an incredible opportunity,” said Darren Cox, CMO, Millennial Esports. “It’s all part of our mission to provide gamers with the ultimate driving experience in both the virtual and real worlds.”

Millennial Esports Tournament Platform offers proven value post-PASPA

In response to the Supreme Court’s recent decision to strike down PAPSA, thereby giving individual States the right to legislate sports wagering, Millennial Esports is exploring possible new applications for the Company’s competitive tournament platform. As part of a repositioning of its assets in relation to the Company’s focus on Esports Racing, Millennial is also exploring strategic options for joint ventures, as well as sales and licencing opportunities, for the tournament platform and thE Arena, the firm’s purpose built Las Vegas Esports arena.

“In order to allow us to be completely focused on Esports Racing moving forward, we are conducting a strategic review to extract value from our non-core assets that we have developed, updated, and maintained over the years,” said Mr. Igelman. “In light of the recent PASPA ruling we feel our proprietary tournament platform in particular possesses significant intrinsic value.”

Having operated the tournament platform for close to five years, the Company is confident it can be used by licensed operators or Governments to offer their network the ability to play Esports and other games that include the option to wager money against each other in many different formats, such as H2H, Team vs Team, and Ladders/Tournaments. In addressing concerns that have been raised by some legislators regarding Esports’ susceptibility to manipulation, the Company is now taking counsel from its Blockchain Advisory Board as to how to best utilize blockchain technology to overcome issues facing regulators such as cheating, collusion, and match fixing, with the aim of using blockchain innovation to maximize the value of the tournament platform.

About Millennial Esports Corp.

Millennial Esports Corp. (MEC) is a vertically integrated mobile gaming publisher leading a revolution to fuse Esports Racing and professional motorsport through a global competition model. MEC is utilizing its gaming franchises and IP to engage millions of new players. Combined with its virtual and live tournament platforms, gaming analytics capability, and motorsport IP - including World’s Fastest Gamer - MEC is uniquely positioned to become the market leader in Esport Racing.

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Media Contact:
Gavin Davidson
Director, Communication Strategy

Investor Contacts:
Manish Grigo
Investor Relations

Alex Igelman
CEO and Director

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