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Esports company seeks to ride wave two years after IPO pop

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Investment opportunities in eSports and virtual gaming are on the rise, especially in Southeast Asia and Middle East and North Africa market regions, and companies such as Esports Technologies are looking to ride the wave.

Esports Technologies made the biggest splash of the IPO market for the year 2021 on the NASDAQ (EBET) when it made its debut with a jump in share value of 507% and eventually soared up to 700%.

According to a new market research report titled ‘Southeast Asian Gaming Market – (2023-2028)’ and released in March this year by Mordor Intelligence, the market is expected to register a Compound Annual Growth Rate of 16.2% with the onset of 5G technology. It marks a reverse trend after a little flat 2022 when revenues dipped slightly. Only the MENA and Latin America regions showed positive growth, according to a NewZoo report.

The rising popularity of various sports and investments in internet infrastructure are the primary factors driving the market’s enormous growth potential. Buying E-sports stocks online and their subsequent performance are the rage among America and South Asian investors with an incredible surge in both demand and price.

Since the IPO of Esports Technologies, it has been confirmed on the books as well above average opening. According to data from Jay Ritter, the average IPO pop from 1980 through 2020 was 18.4% in one day. In 2021, the average first day gain after an IPO was 16%. Using all common stock IPOs between 2000 and 2020, the positive average first-day IPO returns was 21.11 percent in one day.

While getting a direct exposure to the eSports theme is fairly limited, investors can target companies that generate significant revenue from video games and e-sports.

Competitive gaming events, conducted virtually at a professional level, are becoming big business. With its roots being in South Korea, Asia has led global eSports trends and growth for over the past 20 years.

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Mike Fordham appointed International League T20’s Interim Chief Operating Officer

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The International League T20 Management has appointed Mike Fordham as Interim Chief Operating Officer. Fordham has been the league’s Head of Operations since the inception of the tournament – 2022.

Fordham has taken over the role with immediate effect and will spearhead the execution of DP World ILT20 Season 5, which will be played in November-December this year. In a career spanning two decades, Fordham has accumulated rich experience – specialising in sporting, governance and commercial set-up of new leagues, competitions and franchises.

Interim Chief Operating Officer DP World ILT20 Mike Fordham: “It is a real honour to have been given the task to spearhead the DP World ILT20 Season 5 execution. The DP World ILT20 has grown into one of the top T20 tournaments. The league is known for top-class cricketing action at three world-class venues.

“This year’s edition will be bigger and better. We are all excited about the upcoming DP World ILT20 Development Tournament – an incredible platform for young UAE players to make a claim for the main event later in the year. Some of the biggest T20 stars have signed up for the DP World ILT20 Player Auction which further exemplifies the league’s stature and reputation as a competition that attracts the very best in the business.”

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When the seller’s brokerage handles the buyer’s transfer, who should pay?

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Some leading Dubai brokerages are charging buyers for in-house conveyancing or sales-progression services while also holding the sales mandate for the property being purchased.

The practice raises a broader question about how transaction roles should be structured: when a brokerage represents the seller and also provides the service responsible for progressing the buyer’s purchase, should the buyer be required to pay for that service?

The arrangement is visible across brokerage websites, while LinkedIn and Instagram profiles show sales-progression and conveyancing teams operating within some agencies.

The issue is not necessarily the competence of an in-house conveyancer. The more fundamental question is one of independence. A buyer paying for a transfer service may reasonably expect that the person handling the transaction is able to act without commercial considerations connected to the other side.

Consider a seller who has multiple properties listed with the same brokerage, or one who is selling a current home while planning to purchase another property through the same agency. In such cases, the brokerage may have a broader commercial relationship with the seller than with a buyer completing a single transaction.

That distinction can become important when a seller-side issue delays or complicates a transfer. The person responsible for resolving the bottleneck should be able to communicate the problem to the buyer clearly and objectively, without having to balance that responsibility against a wider commercial relationship.

There are parallels in other parts of the financial and property sectors. Banks, for example, commonly appoint independent valuers rather than relying on a valuation conducted by a party whose commercial interests are directly tied to the transaction. The separation of roles is intended to reduce potential conflicts and strengthen confidence in the process.

“The real test of a transfer service comes when the interests on each side stop aligning,” said Jan Baluyut, Director, Property Affairs at Cendale, which operates Conveyance.ae. “An independent transfer provider has no sales mandate to protect, no listing relationship to preserve and no sales commission dependent on completion. That is the procedural oversight buyers pay for.”

Functional separation is also well established internationally. In the UK, buyers and sellers commonly instruct separate solicitors, while in the US, attorneys, title companies and escrow providers can perform distinct roles depending on the state. Dubai does not need to replicate either system, but both demonstrate that transaction roles can be separated to provide greater clarity around responsibilities.

The question is relevant across both ready properties and secondary off-plan transactions. While the mechanics of each transaction can differ, the buyer’s need for accurate information, clear communication and independent oversight remains the same.

Where a brokerage offers an in-house conveyancing or sales-progression service, buyers should be clearly informed about the arrangement, including whether the service is optional and whether they are free to appoint an independent provider.

As Dubai’s property market continues to expand and attract investors from around the world, greater transparency around who represents whom — and who is paying whom — could become an increasingly important part of a mature transaction process.

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Mohan Charan Majhi begins Odisha’s UAE investment push from Abu Dhabi

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Chief Minister of Odisha Mohan Charan Majhi arrived in Abu Dhabi last night, marking the start of the State’s high-level investment outreach to the United Arab Emirates.The visit, with key business and investor engagements scheduled from September 9 to 11, is aimed at deepening Odisha’s economic engagement with the UAE and building long-term partnerships across investment, manufacturing, infrastructure, energy and emerging industries.

The Chief Minister is leading a high-level delegation comprising Hon’ble Minister for Industries Shri Sampad Chandra Swain, Chief Secretary Smt. Anu Garg, and senior officials from the Industries Department and IPICOL.

The delegation was received in Abu Dhabi by Additional Chief Secretary, Industries, Shri Hemant Sharma, along with UAE-based officials and representatives. Representatives of the Embassy of India in the UAE also welcomed the Chief Minister and the delegation.

Soon after his arrival, Shri Majhi reviewed preparations for the high-level business and investor engagements planned during the Abu Dhabi leg of the visit. He took stock of arrangements for meetings with UAE-based investors, institutions and business leaders, stressing the need for focused discussions that can translate into concrete partnerships and investment opportunities for Odisha.

During the day, the Chief Minister also met the Ambassador of India to the UAE and discussed the strengthening of India-UAE relations and the growing opportunities for deeper economic and people-to-people ties.

The Chief Minister highlighted the important role played by the Odia community living and working in the UAE, describing them as a valuable bridge between Odisha and the region. He emphasised the importance of continued support, facilitation and ease of living for Odias residing in the UAE, while recognising their contribution to strengthening links between the two economies.

The Abu Dhabi programme will bring the Odisha delegation into direct engagement with leading UAE institutions, investors and business groups. The discussions are expected to focus on identifying specific opportunities for investment, industrial partnerships, technology collaboration and long-term business participation in Odisha.

The outreach comes at a significant phase in Odisha’s industrial transformation. During the visit, the Chief Minister will showcase the State’s strengths, including its natural resources, robust industrial base, growing infrastructure, port connectivity, competitive power availability, skilled workforce and strategic access to large domestic and international markets.

Speaking ahead of the upcoming investor engagements, Chief Minister Shri Mohan Charan Majhi said,“Odisha has entered a new phase of industrial growth, and our engagement with the UAE is an important part of this journey. We are coming here not only to invite investment, but to build long-term partnerships based on trust, technology, value creation and employment. The UAE is an important global economic partner, and we look forward to strengthening the Odisha-UAE relationship through concrete investment and industrial opportunities.”

The Chief Minister said the State Government’s focus is on converting investor interest into projects on the ground, creating employment and further strengthening Odisha’s position as a competitive destination for global businesses.

The first full day of Odisha’s UAE investment outreach will begin tomorrow in Abu Dhabi with a series of high-level engagements involving leading UAE institutions, investors and business leaders.

The programme on September 9 will include interactions with International Holding Company (IHC) and its business verticals, the Indian Business and Professional Group (IBPG), the UAE Minister of Investment and other senior investment stakeholders. The day will also include a focused engagement on opportunities in the petrochemicals and chemicals sector.

The meetings will provide a platform to discuss specific investment opportunities, industrial partnerships, technology collaboration and new avenues for strengthening Odisha-UAE economic ties.

Through the outreach, the Government of Odisha is seeking to build a sustained economic partnership with the UAE and the wider MENA region, with a focus on translating investor interest into tangible outcomes for industrial growth, employment generation and long-term economic value for the State.

With a packed schedule of high-level business and institutional engagements beginning September 9, Odisha will look to deepen existing partnerships while exploring fresh opportunities in investment, technology, trade and industrial collaboration with the UAE.

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