Royal Wins Corporation (CSE:SKLL, OTCQB:RYWCF) announced that its Kash Royale app has now been approved and published on Apple's App Store and Google's Play Store for Android.
Kash Royale is Royal Wins' first dedicated expansion into competitive real-money gaming.
"Real-money console, PC, and mobile tournaments in games of skill are becoming a massive industry in the United States,” Royal Wins COO and director Robert Fong said in a statement.
“Users want to play and they want to be rewarded for their efforts. Kash Royale amplifies our retention strategy, offering further diversified game play options through social and competitive peer-to-peer tournaments.," he added.
READ: Royal Wins says Kash Karnival platform has seen an over 200% increase in installs and 120% increase in active player base since its launch in the US
Mobile gaming tournaments represent one of the newer areas and one of the fastest-growing industry subsets within a massive esports sector, with market revenue expected to soar to almost $1.15 billion by 2025 from $875 million in 2019, Royal Wins said.
The player-versus-player Kash Royale app will specifically target the lucrative US market and will be initially released in a single-player format, followed by a multi-player format to be released later this year.
Royal Wins said Kash Royale is part of its market expansion and revenue diversification strategy and represents an important addition to the company's existing Kash Karnival platform, which is a player-versus-AI platform.
The company said it has developed a skill-gaming model that has been influenced by the Skillz model, consisting of casual, hyper-casual and arcade games. It plans to eventually expand on the new tournaments platform to have a competitive edge to the Skillz platform.
With millions of users accessing the app stores daily, Royal Wins has identified an opportunity for real-money gaming operators to reach a massive new audience, the company said, adding that it is working towards becoming the leading app store for real-money competitive gaming.
Royal Wins also announced that it has issued 200,000 common shares of the company priced at $0.20 per share to a third-party consultant as consideration for services rendered.
Contact the author at jon.hopkins@proactiveinvestors.com