28.4.2021 08:45:00 CEST | Play Magnus AS | Annual financial and audit reports
(Oslo, 28 April 2021) – Play Magnus AS (PMG) publishes its Annual Report for 2020. The report is attached and available at https://playmagnusgroup.com/investor
Highlights:
Bookings amounted to USD 9.3 million for 2020, up 158% on a pro forma basis from 2019
Revenue amounted to USD 7.9 million for 2020, up 170% from 2019
Strong operational performance and revenue growth in all business segments
Launched the first professional online chess tour and paid out USD 1.4M in prizes in 2020
Raised NOK 426M in 2020 and listed on Euronext Growth Oslo in 2020
Announced acquisition of iChess LLC in November 2020
Play Magnus Group CEO Andreas Thome comments:
“While chess, like many other games and sports, has seen many of its in-person activities cancelled or curtailed, online activity saw outsized growth in 2020. Play Magnus Group companies have been laying the foundation for a generational shift online and were in a prime position to provide leading experiences and services in the realm of online learning, playing and professional chess competition. Our mission is to introduce more people to play, watch, learn and make a living from chess, and it is inspiring that amidst this difficult backdrop, our great game of chess is bringing joy and entertainment to a record number of players and enthusiasts.”
“We at Play Magnus Group have never been more passionate about our mission and are excited for the next chapter of chess in 2021 and beyond.”
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Andreas Thome, CEO, Play Magnus Group, andreas@playmagnus.com
Dmitri Shneider, CFO, Play Magnus Group, dmitri@playmagnus.com
About Play Magnus AS
Founded in 2013, Play Magnus Group’s vision is to drive innovation in chess to bring a millennia-old sport into the future. Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers e-learning and entertainment services via its market leading brands: chess24, Chessable, iChess, New In Chess, Everyman Chess, CoChess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group’s mission is to encourage more people to play, watch, learn, and earn a living from chess.
Attachments
Download announcement as PDF.pdf
Play Magnus Group Annual Report 2020.pdf
