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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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Dubai traffic alert: Key roads, including Sheikh Zayed Road, to close on New Year’s Eve

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Dubai will implement gradual road closures on New Year’s Eve, including major routes such as Sheikh Zayed Road, starting from 4 PM on December 31, according to a senior official from the Roads and Transport Authority (RTA).

Residents and visitors planning to visit Downtown Dubai or other popular fireworks destinations are advised to begin their journeys early and rely on public transport, said Hussain Al Bana, Executive Director of Traffic at the RTA. He urged those not attending festivities in these areas to leave early and reminded guests with bookings near the celebrations to arrive before 4 PM.

The road closure schedule includes:

  • Sheikh Mohammed Bin Rashid Boulevard: From 4 PM
  • Financial Centre Street (Lower Deck): From 4 PM
  • Al Mustaqbal Street: From 4 PM
  • Burj Khalifa Street: From 4 PM
  • Al Asayel Road (Oud Metha to Burj Khalifa): From 4 PM
  • Al Sukuk Street: From 8 PM
  • Upper Level of Financial Road: From 8 PM
  • Sheikh Zayed Road: Gradual closure from 11 PM

To accommodate workers and ensure safety, authorities have designated viewing zones featuring large screens and meal services in collaboration with the Permanent Committee for Labour Affairs. Dedicated family-only viewing areas have also been arranged, with additional details forthcoming.

Enhanced Parking Facilities

The RTA has arranged approximately 20,000 additional parking spaces at Dubai Mall, Zabeel, and Emaar Boulevard to cater to visitors. Alternative parking options at Al Wasl and the GDRFA parking lots will also be available, with free shuttle buses provided for convenience.

Metro users can park at Centerpoint, Etisalat e&, and Jebel Ali stations for easier access to celebration venues. Note that the Dubai Water Canal Footbridge and elevators will close at 4 PM.

Citywide Celebrations

As Dubai rings in 2025, a total of 36 locations across the city will host spectacular celebrations. Highlights include fireworks displays at Burj Park, Global Village, Dubai Festival City Mall, Al Seef, Bluewaters, The Beach at JBR, and Hatta.

Authorities encourage the public to use public transport and plan their journeys in advance to enjoy a smooth and memorable New Year’s Eve.

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Dubai Metro rolls Out 43-hour nonstop operations for New Year’s Eve

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Dubai Metro and Tram services will operate nonstop for over 43 hours starting December 31, according to a senior official from the Roads and Transport Authority (RTA).

This initiative is designed to alleviate congestion during New Year celebrations, encouraging the public to rely on public transport for a smoother journey. Dubai Metro will run continuously from 5 AM on December 31 until the end of January 1, while Dubai Tram will operate from 6 AM on December 31 until 1 AM on January 2.

Additionally, the RTA will deploy a fleet of 1,400 buses, available free of charge, to further support public transportation. The RTA, highlighted that the extended Metro and Tram services, increased parking facilities, and free bus rides are part of the authority’s efforts to provide convenient travel options and reduce traffic congestion for celebrators.

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Traffic Relief: Dubai opens new bridge, slashes travel time from 15 to 3 minutes

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A new 1km bridge opened on Sunday in Dubai, greatly easing traffic flow from Hessa Street to Al Khail Road, the Roads and Transport Authority (RTA) announced.

The two-lane bridge has reduced travel time from Hessa Street to Al Khail Road from 15 minutes to just three minutes, the RTA added. The bridge ensures a “seamless” traffic connection to Dubai’s city centre and Dubai International Airport.

RTA also announced that 54 per cent of the Dh689 million Hessa Street development project, which includes upgrades of four major intersections, has been completed. All intersections are expected to be fully operational by the fourth quarter of 2025.

Mattar Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), said the Hessa Street development project, spanning 4.5km from its intersection with Sheikh Zayed Road to its intersection with Al Khail Road, represents a continuation of efforts to develop road infrastructure to keep pace with the emirate of Dubai’s continuous growth.

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