Denver, Colorado--(Newsfile Corp. - April 25, 2025) - 247marketnews.com, a pioneer in digital media dedicated to the swift distribution of financial market news and information, reviews the Siyata Mobile (NASDAQ: SYTA) (Siyata) and Core Gaming comprehensive overview of Core Gaming's business, ahead of their $160 million merger.
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The detailed overview of Core Gaming's business, financial performance, and strategic vision, providing critical insights into the mobile gaming powerhouse set to merge with Siyata, in a transaction expected to close this quarter, pending regulatory approval.
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This release, drawn from Core Gaming's financial statements and operational data, underscores the transformative potential of the merger, which positions the combined entity firmly in the $126 billion mobile gaming market.
Core Gaming: A Leader in Mobile Gaming
Core Gaming is a mobile gaming developer and publisher that's reaching over 43 million monthly active users (MAUs) across 140 countries. Founded in 2024, Core Gaming acquired Newbyera Technology Limited in June 2024, fueling its rapid growth with over 790 million app downloads and a portfolio of 2,100+ games. Powered by proprietary AI-driven tools, including its BI platform. Core Gaming develops, co-develops, and publishes casual mobile games, generating revenue through in-game advertising via platforms like Applovin and Google.
Financial Performance Highlights
Core Gaming's financials, detailed in Newbyera's audited statements for 2023 and 2022, showcase robust growth, including 2023 Revenue of $57.0 million, up 46.4% from $38.9 million in 2022, and an estimated $80 million in 2024 unaudited revenue, driven by increased ad fees from a higher volume of published games.
Merger Details and Strategic Synergies
Announced on February 26, 2025, the merger will see Core Gaming merge into Siyata Core Acquisition U.S., Inc., a wholly-owned Siyata subsidiary, with Core Gaming surviving as a Siyata subsidiary. Siyata will issue shares to Core Gaming shareholders based on a $160 million valuation, calculated using the 10-day volume-weighted average price of Siyata's stock pre-closing. The reverse merger ensures Core Gaming shareholders own ~90% of the combined entity, with legacy Siyata shareholders retaining at least 10% via a potential special stock dividend within six months post-closing.
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Competitive Edge and Innovation
Core Gaming's AI-driven technologies, including Transformer-based language models (e.g., GPT-4), voice cloning, and diffusion-based image/video models, streamline game production and marketing. Its BI platform optimizes ad campaigns, targeting high-engagement users, with partnerships like Fire Rhino Studios (announced March 25, 2025) expanding its portfolio. The company's team drives innovation, with R&D focused on multilingual content and immersive gameplay.
Market Opportunity and Outlook
Core Gaming's ad-driven, free-to-play model capitalizes on global growth trends. The company's BI platform, leveraging AI for marketing optimization, reduced ad promotion costs while scaling co-developed games, positioning Core Gaming for sustained growth. Per Statista, the mobile gaming market is projected to reach $157 billion by 2029, with a 5.6% CAGR.
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About Siyata Mobile
Siyata Mobile Inc. is a leading global developer and provider of cellular communications solutions for enterprise customers, including first responders, transportation, logistics, and more. Their mission is to enable effective communication in critical moments through innovative technology.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to a number of factors, including without limitation, the Company's ability to continue as a going concern, the popularity and/or competitive success of the Company's acquired football and other sports teams, the Company's ability to attract players and staff for acquired clubs, unsuccessful acquisitions or other strategic transactions, the possibility of a decline in the popularity of football or other sports, the Company's ability to expand its fanbase, sponsors and commercial partners, general economic conditions, and other risk factors detailed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update such forward-looking statements except in accordance with applicable law.
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SOURCE: 24/7 Market News
