YuuZoo: Counter is up 3.0%, after announcing that it has been granted co-hosting rights for the upcoming Electronic Sports China Cup (ESCC) Online Gaming Clubs Invitational in China, a massive annual e-sport event organized by the Chinese Ministry of Culture.
The ESCC inaugural competition is considered the top e-sport event in China in terms of prize money, coverage, and influence. It is also the country’s first esport event done in conjunction with more than 140,000 Chinese online gaming cafes directly.
Throughout the duration of the competition, leading to the finals on 27 Dec ‘15 – 01 Jan ‘16, the event will be actively promoted across TV, online, print, and traditional channels. A live audience of
over 10m are estimated to watch the finals scheduled to be held in Chengdu, Sichuan province.
Commenting on the news, YuuZoo’s CEO guided that YuuZoo has over the last few months kicked off several new initiatives to expand its footprint in China’s huge social e-commerce and gaming market. All these deals support each other and will strengthen the group’s position in the exciting and fast-growing Chinese market.
YuuZoo is currently trading at 12.5x forward P/E.
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