NIP Group, an esports organization cofounded by Mario Ho, the son of the late Macau casino tycoon Stanley Ho, has filed for an initial public offering on the Nasdaq exchange. The company, based in Sweden, did not disclose specific details of its IPO in its filing to the U.S. Securities and Exchange Commission. NIP Group operates two esports teams, including EStar Gaming in China and Ninjas in Pyjamas in Sweden, which compete in popular titles such as Counter-Strike: Global Offensive and League of Legends.
According to the company’s prospectus, NIP Group has a team of 125 professional gamers from China, Europe, and Brazil. EStar Gaming has won $10.9 million in prize money from 60 tournaments, while Ninjas in Pyjamas has earned $8.2 million across 57 competitions as of 2023. The company has attracted investors such as Felix Granander, son of Swedish media magnate Jan Stenbeck, the Wuhan municipal government, American billionaire Jeff Yass’ Susquehanna International Group, and Hong Kong pop singer Jackson Wang.
Despite seeing its net loss widen to $13.3 million in 2023 from $6.2 million a year earlier, NIP Group recorded a 27% growth in revenue to $83.7 million during the same period. The company generates sales from talent management, esports team operation, and event production. NIP Group plans to expand into new markets such as Southeast Asia, North America, the Middle East, Japan, and Korea, and explore opportunities in areas like esports education, digital collectibles, and licensing of intellectual properties.
The global esports market reached a revenue of $1.3 billion in 2022, with Asia and the Middle East/North Africa contributing over 56% of the figure. The popularity of video game competitions is on the rise, with the number of viewers expected to surpass 640 million by 2025. Mario Ho, a finance graduate from MIT and chairperson of the Macau Esports Federation, founded Victory 5 in 2018 before establishing NIP Group. The company aims to shape the mainstream perception of esports and highlight its potential for the future and youth.
NIP Group’s mission to influence the mainstream perception of esports aligns with the industry’s rapid growth and increasing global popularity. With plans to expand into new markets and explore various business opportunities, the company is poised to capitalize on the booming esports industry. Mario Ho’s background in finance and experience in the esports space position him well to lead NIP Group towards success in the competitive gaming market.
As the company prepares for its IPO on the Nasdaq exchange, investors and gaming enthusiasts alike will be watching closely to see how NIP Group navigates the evolving esports landscape. With a strong team of professional gamers, strategic partnerships, and a vision for industry growth, NIP Group is well-positioned to make a significant impact on the esports scene. Stay tuned for updates as NIP Group continues to pursue its mission of influencing the mainstream perception of esports and expanding its presence in the global gaming market.
