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Fosun Sports Group Announces New Entity to Deepen Global Sports Industry Footprint

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On October 19, Fosun Sports Group (hereinafter referred to as “Fosun Sports”), a global pan-sports industry operating group company and subsidiary of Fosun International’s happiness segment, announced the formal establishment of Fosun Sports as a holding entity, and the acquisition of core operating assets and management team of Foyo, in games, esports and sports. At the same time, Fosun Sports has received a minority strategic investment from the U.S. finance and technology firm, PEAK6 Investments, which will continue to deepen the global industrial layout around the core business of sports, esports and games in the future.

Since Fosun acquired Wolverhampton Wanderers Football Club in 2016, Fosun Sports has relied on the group’s global resources and built a professional team to operate the club consistently and steadily, which has greatly enhanced Wolves’ brand value. In 2018, Wolves won the EFL Championship title and returned to the English Premier League, with 7th placed-finishes in the Premier League for two consecutive seasons and a last-eight finish in the UEFA Europa League. Wolves ranked 19th in the Brand Finance 2020 football club brand value rankings.

Meanwhile, Fosun Sports has built a sports-focused platform to offer its community of loyal football and esports fans a unique and innovative range of products (merchandising, sports fashion…) + content (music, mobile gaming, social media) + experience (matches, gaming portal…). Today, Fosun Sports has found its unique path to directly communicate with young audiences and connect with core users.

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In 2019, Fosun Sports established the trendy sports brand WWFC based on the Wolves IP (Intellectual Property) and launched a collaboration series. Through “Wolves Fashion Night” and “Wolves Fan Night”, Fosun Sports harnessed the combined power of its projects, fully deploying the resources of fashion, trend, and partner brands. Wolves has now been successfully transformed from a traditional soccer brand to a diversified pan-sports lifestyle brand and is known as a practitioner of “sports + fashion” in the industry. Such IP operation capability also makes Fosun Sports the exclusive authorised partner of CFA (China Football Association) China Team to develop licensed products and create a new “content + trend + youth” lifestyle brand “My Home Field”.

In addition, Fosun Sport actively entered the esports industry. Since 2018, Wolves has been one of the most active Premier League clubs in esports, with three teams in the UK – FIFA 22, Rocket League and Le Mans/Formula Pro Series sim racing, as well as strong collaborations with other popular esports titles such as Fortnite. From 2019, Fosun Sports has entered the China esports market with the “Wolves Esports” brand, currently with five divisions including Honor of Kings, QQ Speed, Identity V, Call of Duty Mobile, FIFA Online 4, and has won multiple titles in international and domestic major competitions. Three out of the five squads have won championships in various national or global competitions.

The acquisition of Chongqing QGhappy (now renamed as Chongqing Wolves), the Honor of Kings professional league team with six championship titles, in September, was one of the most critical moves by Fosun Sports to connect with young audiences in the esports world, further expanding its esports footprint by entering KPL, the top league of mobile gaming with 100 million daily active users. The addition of a Wolves KPL squad has made the Wolves Esports brand one of the best in Asia.

The strategic investor in Fosun Sports, PEAK6, is the owner of North American esports powerhouse Evil Geniuses, a team with a long and decorated history since its foundation in 1999, and the winner of the fifth International DOTA2 Championships (Ti5). Fosun Sports then made a strategic investment into Evil Geniuses in July 2021, building deep cooperation between Wolves and Evil Geniuses, and thus entering the North American esports market.

From DOTA2, Honor of Kings, FIFA, Call of Duty Mobile, QQ Speed, Identity V and virtual 24 hours of Le Mans combined with traditional sports, Fosun Sports has advanced in the esports market in China, North America and Europe, achieving “full coverage” in esports both geographically and in terms of projects.

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Fosun Sports has reached more than 30 million fans worldwide through its two core businesses of soccer and esports, which brings infinite possibilities for business development to form a global sports ecosystem.

Mr. Jeff Shi, Chairman of Fosun Sports, said he was delighted to have PEAK6 join the Fosun Sports family. “Our organisations have great synergy, from our mutual desire to challenge conformity, to our openness for collaboration, and of course our shared passion for sports, technology and achieving success through hard work, intelligence and innovation.”

“We are confident PEAK6 can help bring Fosun Sports and Wolves a wealth of knowledge, wisdom and learning, and support Fosun Sports to become a sports industry group with global influence and much success.”

Fosun Sports is also one of the key business units of Fosun’s happiness segment. After the restructuring, the company will have the opportunity of rapid development with empowerment from Fosun’s ecology, and to gain greater synergies through mutual empowerment with other member brands in the Fosun system.

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Online Casino Platform 96M Partners with Formula 1

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Formula 1 and 96M, a premier Asian online casino platform, have officially announced a landmark partnership, bringing a new wave of excitement to fans throughout the region. This collaboration establishes 96M as the official betting partner of F1 in Asia, offering exclusive content, innovative betting opportunities and a forward-looking perspective on the future of both industries.

This partnership goes beyond the standard offerings. Fans can look forward to exclusive content tailor-made for the Asian market. Not only will fans gain a deeper understanding of the sport, but they’ll also be armed with the knowledge to make informed betting decisions.

96M will offer a thrilling array of exclusive betting options specifically designed for the Asian market. From daring pre-race predictions to in-play wagers that keep the adrenaline pumping, this partnership promises to elevate the viewing experience for fans of all levels.

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To celebrate this exciting collaboration, 96M is launching a special prediction promotion with a unique twist. Fans can participate by predicting race outcomes on the 96M platform via the one-of-a-kind F1 Airdrop. This innovative promotion promises a thrilling way for fans to engage with the sport and potentially score exclusive incentives.

This partnership is poised to redefine the landscape of both online betting and motorsport. By leveraging F1’s global reach and 96M’s expertise in the Asian market, the collaboration aims to set new standards for innovation, responsible gaming and audience engagement. With a shared commitment to delivering exceptional experiences, F1 and 96M are positioned to lead the industry forward.

The partnership officially commences ahead of the 2024 Singapore Grand Prix, marking the beginning of a thrilling new era for both F1 and 96M.

The post Online Casino Platform 96M Partners with Formula 1 appeared first on European Gaming Industry News.

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Fun88 and Dale Steyn Team Up for Another Winning Partnership

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Fun88, a leading online gaming platform, announced the continuation of its partnership with legendary cricketer Dale Steyn as its brand ambassador. This collaboration, which began in 2023, has significantly strengthened Fun88’s credibility and trustworthiness in the global gaming industry. The company is excited to have Steyn with them for another year, connecting with fans everywhere.

Dale Steyn, a former South African cricketer renowned for his exceptional cricketing career and celebrated as one of the greatest fast bowlers in the history of the sport, brings with him a wealth of experience & a legacy of excellence. His association with Fun88 underscores the platform’s commitment to providing a safe, secure and reliable gaming experience for all users.

Dale Steyn said: “From humble beginnings to the world stage, I made it through hard work, dedication, and belief. I pushed limits, broke barriers, and never forgot to have fun. Now, with FUN88, my journey continues. Whether it’s your next big game or a shot at fame, Fun88 is your guide. Play Fun, Win Big!”

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Over the past year, Steyn’s role as a brand ambassador has played a pivotal role in elevating Fun88’s reputation. His professionalism, along with his love for sports, matches Fun88’s values of transparency, caring for customers and providing top-quality entertainment. His presence has helped Fun88 connect with sports fans on a deeper level and bring them closer to the action. As Fun88 continues to expand, the platform is looking forward to strengthening its relationship with Steyn.

Fun88 is a leading name in the sports industry, sponsoring well-known teams and events across various sports like cricket, football and kabaddi. The platform is dedicated to promoting sportsmanship and connecting fans with their favorite games through innovative, engaging experiences, offering exciting opportunities for sports lovers to interact with teams and events through betting and live-action features.

The post Fun88 and Dale Steyn Team Up for Another Winning Partnership appeared first on European Gaming Industry News.

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Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024

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Xsolla, a global video game commerce company, will showcase its cutting-edge solutions at Hall 4, Booth #04-C48, during the Tokyo Game Show 2024, which will take place from September 26-27, 2024, at the Makuhari Messe Convention Center in Tokyo, Japan. Xsolla’s booth will feature live demonstrations of its latest solutions aimed at helping game developers and publishers succeed in expanding to international markets.

During the event, Jin Jeong, Regional Vice President of Xsolla Japan, will deliver a keynote session focusing on the critical role of Xsolla’s Merchant of Record (MoR) solutions in transforming the way game companies handle cross-border transactions, taxes, and regulatory complexities. This session will offer developers and publishers a comprehensive look into how Xsollasimplifies global operations, allowing studios to focus on creating games while Xsolla handles the business side.

In addition to showcasing their MoR solutions, Xsolla will demonstrate how their payment systems and cross-play/cross-pay features enhance global reach for game developers of all sizes and across all platforms. Xsolla will also showcase how they help video game companies integrate with various payment methods worldwide, allowing developers to monetize their games across different regions easily.

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David Stelzer, President of Xsolla, emphasized the significance of this event for the company: “We’re thrilled to be part of the Tokyo Game Show and to present our latest solutions designed to empower game developers and publishers to expand globally. Our mission is to support the gaming industry with the tools they need to thrive in international markets, and we are eager to showcase how Xsolla can make global expansion easier and more effective.”

Attendees are invited to visit Xsolla’s booth to meet with the team of experts, who will be available to provide insights, answer questions, and discuss how their tailored solutions can help game developers and publishers grow their businesses. For those interested in more in-depth discussions, Xsolla also offers one-on-one meetings to explore specific solutions for global market expansion.

The post Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024 appeared first on European Gaming Industry News.

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