MTG pursuing mergers and acquisitions regardless of down gross sales 12 months

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CEO Maria Redin says elevated stake in InnoGames and acquisition of Hutch “mark the start of a brand new development journey” for firm

MTG at this time introduced its year-end monetary outcomes, with the esports and gaming firm posting a dip in gross sales and lessened losses to go together with it.

For the complete 12 months, MTG reported web gross sales down 6% to SEK four billion ($482 million), with web losses narrowed from 2019’s SEK 458 million ($55.2 million) to a 2020 deficit of SEK 96 million ($11.6 million).

In gentle of the COVID-19 pandemic scuttling reside occasions, MTG’s esports revenues from ESL and DreamHack have been down somewhat over 23%, a loss partially offset by its different gaming revenues being up practically 6%.

The corporate is hoping to reintroduce occasions with in-person audiences within the second half of this 12 months, however it expects the detrimental affect of the pandemic to weigh on its esports enterprise past that.

December additionally noticed MTG improve its stake in InnoGames to 68% and purchase cell racing recreation maker Hutch Video games .

“These acquisitions mark the start of a brand new development journey for MTG’s gaming vertical, with an agenda to develop each organically, and thru an lively M&A technique,” mentioned MTG group president and CEO Maria Redin.

InnoGames individually reported full-year revenues up 15% to €220 million ($267 million), a brand new document and its 14th straight 12 months of gross sales development.

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