WUHAN, China, Feb. 11, 2025 (GLOBE NEWSWIRE) -- NIP Group Inc. (“NIPG” or the “Company”) (NASDAQ: NIPG), a leading digital entertainment company, today announced a strategic partnership with Optics Valley Traffic Company (“OVTC”) to co-develop a cutting-edge digital entertainment industry base beneath the East Plaza at Wuhan East Railway Station. The agreement, signed on January 15, 2025, marks a significant step toward creating a dynamic regional hub for digital innovation and immersive entertainment experiences in Wuhan.
Under the agreement, NIPG and OVTC will implement a "4+N" business model, focusing on four foundational pillars: comprehensive live streaming facilities, diverse influencer-themed districts, esports training centers and IP-based tournaments. The model also incorporates a range of ancillary services that enhance and support these core elements. This partnership aims to forge a dynamic digital entertainment ecosystem, further cementing Wuhan’s position as a nexus for esports and cultural innovation.
“The formalization of this partnership underscores our commitment to building a robust and scalable digital entertainment ecosystem. The project is poised to become the most influential digital entertainment hub in central China and a nationally recognized center of excellence,” said Mario Ho, Chairman and Co-CEO of NIPG, “By melding our expertise in esports, talent management and live streaming with OVTC’s extensive local resources, we can transform Wuhan’s role as a major force in digital entertainment, accelerating regional economic growth and fostering new talent development.”
Hicham Chahine, Co-CEO of NIP Group, commented, “Beyond business expansion, our collaboration with OVTC marks a strategic step toward redefining the future of entertainment and digital engagement. We are excited about the possibilities this partnership unlocks, both in terms of economic growth and in our ability to enrich the local digital entertainment landscape. We expect new center to be fully operational by May 2025 and accommodate nearly one thousand professionals.”
This latest collaboration aligns with NIPG’s strategic vision of cultivating a fully integrated digital entertainment ecosystem that spans events production, esports development, talent management, and game publishing. The Company continues to explore innovative paths to strengthen its market position, diversify revenue streams, and deliver top-tier digital entertainment experiences to audiences worldwide.
About NIP Group
NIP Group (NASDAQ: NIPG) is a digital entertainment company created for a growing global audience of gaming and esports fans. The business was formed in 2023 through a merger between legendary esports organization Ninjas in Pyjamas and digital sports group ESV5, which includes eStar Gaming, a world leader in mobile esports. Building on the success of its competitive teams with an innovative mix of business ventures, including talent management, event production, hospitality and game publishing, NIP Group is developing transformational experiences that entertain, inspire and connect fans worldwide to expand its global footprint and engage digital-first gamers where they are. NIP Group currently has operations in Sweden, China, Abu Dhabi and Brazil, and its esports rosters participate across multiple game titles at the biggest events around the world.
Safe Harbor Statements
This press release contains statements that constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Among other things, the business outlook and quotations from management in this press release, as well as NIP Group’s strategic and operational plans, contain forward-looking statements. NIP Group may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All statements that are not historical or current facts, including but not limited to statements about NIP Group’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIP Group’s growth strategies; its future business development, results of operations and financial condition; its ability to maintain and enhance the recognition and reputation of its brand; developments in the relevant governmental laws, regulations, policies toward NIP Group’s industry; and general economic and business conditions globally and in the countries or regions where NIP Group has operations; and assumptions underlying or related to any of the foregoing. These statements are based on various assumptions, whether identified in this press release, and on the current expectations of NIP Group’s management and are not predictions of actual performance.
NIP Group cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties. Further information regarding these and other risks is included in NIP Group’s filings with the SEC. There may be additional risks that NIP Group does not presently know or that NIP Group currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of NIP Group as of the date of this press release. Subsequent events and developments may cause those views to change. However, while NIP Group may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of NIP Group as of any date subsequent to the date of this press release. Except as may be required by law, NIP Group does not undertake any duty to update these forward-looking statements.
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