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Gfinity Rises After Athlos Enters Deal With Playgendary

Sam Boughedda
Sam Boughedda trader
Updated 4 Jan 2023

Despite the significant decline in 2022, Gfinity (LON: GFIN) shares are up 8% so far this year after the company announced that Athlos Game Technologies has entered a one-year rolling commercial deal with the mobile game operator, Playgendary.

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The announcement has so far pushed Gfinity shares 6% higher on Wednesday.

The deal will see Playgendary pay Athlos a monthly fee based on the number of active users.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

Athlos, which is 100% owned by Gfinity, will see its Athlos Tournament Platform integrated into Playgendary games starting in 2023, with the game titles announced when ready to be launched.

Gfinity launched Athlos Gaming Technologies in August 2022, with the newly formed company providing its clients with a competition platform that it says will deepen player engagement, lower player churn, and increase average revenue per user. It is currently being used for esports tournaments in three of the most popular mobile games.

The deal will see Playgendary pay Athlos a monthly fee based on the number of active users.

“Playgendary is one of the world’s leading mobile game publishers with excellent games and a strong pipeline of new titles many of which benefit from competitive play,” commented Gfinity Chairman Neville Upton.

“The commercial model means that as competitive play within the games grow so does Athlos’ recurring revenue stream. This is one of many similar deals that we aim to enter into with game publishers big and small.”


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.