Last month it sold its CDL franchise to 100 Thieves and its OpTic Gaming brand name, worthestimates, to its original creator and now NRG co-CEO Hector ‘HECZ’ Rodriguez to use for that company’s Chicago-based CDL franchise. It is now reportedly shopping its OWL franchise. With revenue expected to fall to $8.
It’s an industry-wide reckoning that esports investment adviser Sharma says will trim the weak, empower the strong and open up “very meaningful opportunities and upside.” Revenue flatlined at Los Angeles-based NRG after its CDL and OWL teams had to cancel ticketed in-person events and stage them online for free. Some of the gap was filled with its higher-margin, online content business, including sponsored streams on Twitch and videos on YouTube. Last month the company opened The Castle, a fun-house, a gamers version of a fraternity house, and production studio to churn out digital content that can be sold to sponsors.
“If your goal is just to be the Dallas Cowboys and just operate in competitive gaming, that is cool, but it’s a long way off,” said Andy Miller, CEO of NRG and co-owner of the NBA’s Sacramento Kings. “There’s not going to be one thing in gaming making you money.”spoke to two dozen esports organizations, investors, advisors to investors, and analysts.
horrible