Blue Star Capital PLC (LON:BLU) said Dynasty eSports, in which it has a 13% stake, is making “rapid progress”.
The comment came as the AIM-listed investment company updated investors on the activities of Dynasty, a pioneer in the online eSports portal management (EPM) market.
In the third quarter, Dynasty signed three separate software-as-a-service (SaaS) agreements to provide its white-labelled platform to two eSports franchise operators and to the largest telecoms carrier in the Middle East.
These agreements are expected to provide contracted Software-as-a-Service (SaaS) revenues for Dynasty of about US$2.8mln over the next year. In addition to the contract revenue, Dynasty is progressing a number of prospective platform partnerships which will, should they be signed, on current terms make Dynasty profitable at the operating level.
Dynasty's first partner platform has gone live in Malaysia with a soft launch of its proprietary EPM platform with the Malaysia eSports Federation - www.mesf.gg. Dynasty expects to develop the platform further in the current quarter, delivering an enhanced tournament engine and a fully embedded e-commerce gaming shop that includes a partnership with Boost, Malaysia's largest eWallet service.
“Having secured a landmark contract win in Malaysia in May 2020, management has now secured another major contract in the Middle East and appear confident of continuing this strong progress as their eSports platform gains traction internationally. We remain confident that Dynasty will become a sizeable business over the next few years,” said Tony Fabrizi, the chief executive officer of Blue Star in a statement.