BOCA RATON, FL / ACCESS Newswire / September 8, 2025 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced a strategic realignment of its weekday evening schedule, boosting the Company’s late daytime lineup ahead of a pivotal moment in the day.
Starting Monday, September 8, 2025, Carl Higbie will move into the 6:00pm ET slot to host Carl Higbie FRONTLINE, anchoring viewers’ transition from day to night with incisive news analysis, fearless reporting and provocative opinion.
Veteran journalist Greta Van Susteren will pivot from the 6:00pm ET hour to a newly powerful 4:00pm ET timeslot, positioning her at the heart of momentous breaking stories as the market closes, court hearings end and Congress adjourns.
With decades of experience in delivering sharp, fact-based analysis and piercing interviews, Van Susteren’s move underscores Newsmax’s commitment to timely and authoritative journalism.
Simultaneously, The Chris Salcedo Show will shift into the 5:00pm ET hour, continuing his unapologetically conservative commentary in the critical early evening timeframe.
Carl Higbie Takes Evening Lead
Former U.S. Navy SEAL and seasoned political commentator Carl Higbie has been a dynamic presence at Newsmax since launching Carl Higbie FRONTLINE in April 2023.
Now airing at 6:00pm ET, the program adopts a sharper night-time edge, characterized by Higbie’s trademark “fearless exposure of government overreach and sharp critique of the mainstream media” – designed to kick off evening viewing powerfully.
Higbie made headlines in August when Carl Higbie FRONTLINE broadcast from Israel for a full week. Reporting from Jerusalem and other key locations, he provided coverage of Israel’s security concerns, touring defense industries and speaking directly with officials such as Israel’s Prime Minister Benjamin Netanyahu.
Christopher Ruddy, CEO of Newsmax, praised the lineup innovation: “This reshuffle is designed to meet our viewers when the news truly matters,” Ruddy said. “Carl is a bold, unafraid journalist; Greta brings unmatched credibility at a critical juncture; and Chris brings strong voice and insight – together they form a powerful trifecta. We believe this revamped lineup will strengthen our connection with a news-hungry audience as we lead into primetime.”
New Late Day Lineup (Effective September 8, 2025)
4:00pm ET: The Record with Greta Van Susteren
5:00pm ET: The Chris Salcedo Show
6:00pm ET: Carl Higbie FRONTLINE
7:00pm ET: Rob Schmitt Tonight
8:00pm ET: Finnerty
9:00pm ET: Greg Kelly Reports
10:00pm ET: The Right Squad
About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”
Landmark Federal Antitrust Case Seeks Significant Damages
BOCA RATON, FL / ACCESS Newswire / September 3, 2025 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) announced today that the Company’s subsidiary, Newsmax Broadcasting, LLC, has filed a major federal antitrust lawsuit against Fox Corporation and Fox News Network, LLC (collectively, “Fox”) in the United States District Court for the Southern District of Florida.
The suit, led by prominent antitrust litigators at Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., accuses Fox of engaging in an extensive and unlawful campaign to block competition in the market for right-leaning pay television news, including Newsmax.
Newsmax’s action seeks damages under Sections 1 and 2 of the Sherman Act, the Florida Antitrust Act, and the Florida Deceptive & Unfair Trade Practices Act. Under federal law, any damages awarded in this case will be trebled – meaning Fox faces significant financial liability if Newsmax prevails.
The complaint alleges that Fox has abused its dominance in the right-leaning pay TV news market for years by coercing distributors into unfair carriage agreements designed to exclude or marginalize competitors like Newsmax.
Fox News, described in the complaint as a “must-have” channel for distributors, leverages its market power to impose restrictions that harm consumers, stifle competition, and drive up costs across the pay TV ecosystem.
Among the exclusionary tactics detailed in the complaint:
No-Carry Provisions: Fox conditions access to Fox News on agreements by distributors not to carry or to restrict competing right-leaning news channels.
Financial Penalties: If distributors carry Newsmax, Fox forces them to also carry low-demand channels like Fox Business or Fox Sports 2 in their most widely viewed tiers – triggering potentially tens of millions in extra fees.
Confidential Drag-Down Provisions: These clauses penalize distributors for placing Newsmax in basic packages by requiring simultaneous promotion of Fox’s less popular channels.
Intimidation Campaigns: Fox has allegedly pressured its guests to not appear on Newsmax, as well as has run online smear campaigns and hired private investigators targeting Newsmax executives to damage the Company’s credibility.
The result, the complaint asserts, is that Fox has deliberately blocked Newsmax’s growth in critical distribution platforms such as Hulu, Sling, Fubo, and other major platforms.
Internal Fox communications cited in the complaint reveal that senior executives and talent saw Newsmax as a competitive threat following the 2020 election. Texts, emails, and memoranda show Fox leaders acknowledging that Newsmax’s growing audience could “drastically change the landscape” of cable news, including:
Then-Fox host Tucker Carlson warned that “an alternative like Newsmax could be devastating to us.”
Fox News President Jay Wallace told CEO Suzanne Scott that Fox was on “war footing” over Newsmax’s rise.
Fox Chairman Rupert Murdoch instructed Fox News CEO Suzanne Scott that Newsmax “should be watched” as a result of press stories about the network.
Other executives tracked Newsmax’s bookings and content, openly strategizing about ways to contain the new competitor.
Harm to Competition and Consumers
The lawsuit alleges that Fox’s exclusionary conduct has had far-reaching consequences:
Higher Prices: By blocking competition, Fox has extracted supracompetitive carriage fees – charging distributors nearly $2.20 per subscriber per month, double CNN’s fees and six times MSNBC’s. These inflated costs have been or likely will be passed on to consumers.
Reduced Consumer Choice: Millions of right-leaning viewers who want an alternative have been denied access to Newsmax on affordable basic packages, leaving Fox as the only viable option.
Delayed Growth of Newsmax: Fox’s practices have prevented Newsmax from reaching critical mass with distributors, advertisers, and audiences, costing the Company hundreds of millions in lost carriage fees and advertising revenue.
“Fox has sought to protect and expand its monopoly power in the right-leaning pay TV news market by engaging in a suite of anticompetitive behaviors,” the complaint states. Fox’s unlawful and exclusionary conduct “has harmed not just Newsmax and other competitors,” but also “consumers and competition itself.”
Newsmax is represented by Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., and Sperling Kenny Nachwalter, LLC, two of the nation’s premier antitrust litigation firms.
Both firms have extensive experience taking on monopolistic conduct and have successfully litigated complex cases involving dominant players in telecommunications, media, pharmaceuticals, and technology.
“Fox’s behavior represents a textbook abuse of monopoly power,” said Michael J. Guzman, lead counsel for Newsmax at Kellogg Hansen. “The law is clear: competition, not coercion, should decide what news channels Americans can watch. By leveraging its must-have status, Fox has blocked new voices, suppressed consumer choice, and extracted excess profits.”
“Fox may have profited from exclusionary contracts and intimidation tactics for years, but those days are over,” said Christopher Ruddy, Newsmax CEO. “This lawsuit is about restoring fairness to the market and ensuring that Americans have real choice in the news they watch. If we prevail, Fox’s damages could be tripled under federal law – an outcome that would send a powerful message to any company that thinks it can monopolize public discourse.”
The complaint underscores that Fox’s conduct harms not just Newsmax, but the competitive process itself. By keeping rivals off affordable distribution packages, Fox has denied millions of Americans the diversity of viewpoints that a healthy marketplace of ideas requires.
“American democracy depends on a vibrant and competitive media landscape,” Ruddy added. “Fox has acted as a gatekeeper, silencing emerging voices and overcharging consumers. Our lawsuit seeks not only justice for Newsmax, but also to protect the rights of viewers who deserve choice and fair pricing.”
Newsmax is asking the federal court to:
Declare Fox’s conduct unlawful under federal and state antitrust laws.
Award monetary damages as permitted by law.
Enjoin Fox from continuing exclusionary contracts and monopolistic practices.
Order equitable relief to restore competition in right-leaning pay TV news.
About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”
Forward-Looking Statements This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to the timeline or outcome relating to litigation against Fox, our ability to change the direction of Newsmax, our ability to keep pace with new technology and changing market needs, the competitive environment of our business changes in domestic and global general economic and macro-economic conditions and/or uncertainties and factors set forth in the sections entitled “Risk Factors” in Newsmax’s Annual Report on Form 10-K for the twelve months ended December 31, 2024, Newsmax’s Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication 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. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.
CULVER CITY, Calif., Aug. 28, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today highlighted a series of portfolio milestones across its publishing labels. These developments underscore the Company’s ability to activate across multiple platforms, genres, and industry events, reinforcing Snail’s ongoing strategy of broad market engagement and growth.
Additionally, starting today, action-adventure rpg Robots at Midnight will debut on PlayStation. Known for its combat, immersive environments, and distinct difficulty modes, the title serves as an ideal entry point for players new to souls-like mechanics and is set to capture a broader audience through this new platform launch. To drive player adoption, Robots at Midnight will launch with a 30% promotional discount across PlayStation, Steam, and Xbox platforms.
At Gamescom 2025, Snail Games, in collaboration with Frozen Way, presented Honeycomb: The World Beyond, a survival sandbox title currently in development, with a hands-on demo for players and media. A new trailer also highlighted how NVIDIA technology is being utilized to enhance gameplay and performance. In addition, Frozen Way confirmed a release date of November 6, 2025, for Honeycomb: The World Beyond, marking a major milestone in the project’s development timeline.
Snail’s indie branch Wandering Wizard, in collaboration with Latin American based developers Seven Leaf Clover, will showcase Rebel Engine at PAX West this week. A hyperkinetic “boomer shooter,” Rebel Engine combines high-speed gunplay with devastating melee combos to deliver a modern twist on retro-inspired action. By partnering with international development talent, Snail Games continues to highlight the growing influence of the Latin American gaming sector while reinforcing the Company’s broader commitment to supporting creative voices across global markets.
In addition, Snail Games’ Interactive Films label will launch a new Steam title, The Fame Game: Welcome to Hollywood, on September 4, 2025. This full-motion video experience taps into the growing demand for narrative-driven, interactive entertainment, further positioning Snail to capture audiences beyond traditional gaming segments and expand into new categories of digital engagement.
Together, these milestones reflect the strength of Snail’s multi-label publishing strategy, demonstrating the Company’s ability to deliver across multiple genres, platforms, and regions. By engaging in global showcases, high-profile collaborations, and diverse publishing partnerships, Snail continues to broaden its market presence and reinforce its long-term growth strategy.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding the growing influence of the Latin American gaming sector, the growing demand for narrative-driven, interactive entertainment and the strength of Snail’s multi-label publishing strategy, demonstrating the Company’s ability to deliver across multiple genres, platforms, and regions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
Total Revenue Growth of 6.1% in Fourth Quarter 2025
Rapid expansion of Lucky Strike brand with 55 current Lucky Strike locations, targeting 100 by calendar year end
Continued efforts to deploy capital efficiently, driving long-term returns
RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier owner/operators of location-based entertainment, today provided financial results for the fourth quarter and full year of fiscal year 2025, which ended on June 29, 2025.
Quarter Highlights:
Total revenue increased 6.1% to $301.2 million versus 4Q24
Same-Store Revenue decreased 4.1% versus 4Q24
Net loss of $74.7 million versus net loss of $62.2 million in 4Q24
Adjusted EBITDA of $88.7 million versus $83.4 million in 4Q24
From March 31, 2025, through August 28, 2025, we acquired three family entertainment centers and two water parks
Fiscal Year Highlights:
Revenue increased 4.0% to $1,201.3 million versus the prior year
Same Store Revenue decreased 3.7% versus the prior year
Net loss of $10.0 million versus prior year net loss of $83.6 million
Adjusted EBITDA of $367.7 million versus prior year of $361.5 million
Added 14 locations during the fiscal year, 10 through acquisitions and four new builds
Total locations in operation as of August 28, 2025, were 370
“We closed fiscal year 2025 on a true high note, with organic revenue momentum accelerating every single month in the quarter and inflecting solidly positive as we entered June and July,” said Thomas Shannon, Founder and CEO. “Total growth in those two months reached double digits, powered by the incredible response to our revamped Summer Season Pass program and the continued integration of our recent acquisitions. Guests recognized the high quality and strong value we delivered — and they showed up in record numbers. Season Pass sales alone generated $13.4 million at our bowling locations and $4.2 million across our water parks and family entertainment centers.”
“The Season Pass is more than just a ticket — it’s a connection point. With millions of visits each year, these passes give us access to rich customer data, enabling us to personalize and target offerings all year long. That means we’re not only driving visits in peak season but also building deeper loyalty, stronger repeat visitation, and new upsell opportunities across our entire portfolio.”
“Even as we’ve navigated through a period of complex macro volatility, the underlying story of Lucky Strike Entertainment remains clear and compelling: we are the leading out-of-home entertainment platform, built to thrive in every environment. Our ability to generate positive growth through uncertainty, and accelerate even further in stable economies, proves the resilience and scalability of our model. The future of connected play, events, and entertainment belongs to Lucky Strike.”
Fiscal Year 2026 Guidance
We remain focused on delivering profitable growth by driving revenues, expanding operating cash flow, and increasing free cash flow – including FCF/share. Our outlook reflects attractive growth supported by organic operating leverage and increased investment in high-ROI, revenue-generating initiatives. Additionally, recent acquisitions typically take 12-18 months to achieve our company-wide margins. For fiscal year 2026, the Company is issuing the following performance guidance.
Total Revenue Growth:
5% to 9%
Total Revenue:
$1,260M to $1,310M
Adjusted EBITDA:
$375M to $415M
Share Repurchase and Capital Return Program Update
From March 31, 2025, through June 29, 2025, the Company repurchased 0.8 million shares of Class A common stock for approximately $7 million. The Company has $92 million currently remaining under the share repurchase program. For fiscal year 2025, the Company repurchased 6.8 million shares of Class A common stock for approximately $72 million.
On August 19, 2025, the Board of Directors declared a quarterly cash dividend of $0.055 per share of common stock for the first quarter of fiscal year 2026. The dividend will be payable on September 12, 2025, to stockholders of record on August 29, 2025.
Investor Webcast Information
Listeners may access an investor webcast hosted by Lucky Strike Entertainment. The webcast and results presentation will be accessible at 10:00 AM ET on August 28, 2025, in the Events & Presentations section of the Lucky Strike Entertainment Investor Relations website at https://ir.luckystrikeent.com/
About Lucky Strike Entertainment
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
Forward Looking Statements
Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions, and uncertainties, such as statements of our plans, objectives, expectations, intentions, and forecasts. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs, and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: our ability to design and execute our business strategy; changes in consumer preferences and buying patterns; our ability to compete in our markets; the occurrence of unfavorable publicity; risks associated with long-term non-cancellable leases for our locations; our ability to retain key managers; risks associated with our substantial indebtedness and limitations on future sources of liquidity; our ability to carry out our expansion plans; our ability to successfully defend litigation brought against us; failure to hire and retain qualified employees and personnel; cybersecurity breaches, cyber-attacks and other interruptions to our and our third-party service providers’ technological and physical infrastructures; catastrophic events, including war, terrorism and other conflicts; public health emergencies and pandemics, such as the COVID-19 pandemic, or natural catastrophes and accidents; fluctuations in our operating results; economic conditions, including the impact of increasing interest rates, inflation and recession; and other factors described under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company on August 28, 2025, as well as other filings that the Company will make, or has made, with the SEC, such as Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, except as required by applicable law.
Non-GAAP Financial Measures
To provide investors with information in addition to our results as determined under Generally Accepted Accounting Principles (“GAAP”), we disclose Same Store Revenue and Adjusted EBITDA as “non-GAAP measures”, which management believes provide useful information to investors because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period, and management relies on these measures for planning and forecasting of future periods. Additionally, these measures allow management to compare our results with those of other companies that have different financing and capital structures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for revenue or net income as calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Our fiscal year 2026 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure because the Company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Such items include, but are not limited to, acquisition-related expenses, share-based compensation, and other items not reflective of the company’s ongoing operations.
Same Store Revenue represents total Revenue less Non-Location Related Revenue, Revenue from Closed Locations, Service Fee Revenue, if applicable, and Acquired Revenue. Adjusted EBITDA represents Net Income (Loss) before Interest Expense, Income Taxes, Depreciation and Amortization, Impairment and Other Charges, Share-based Compensation, EBITDA from Closed Locations, Foreign Currency Exchange Loss (Gain), Asset Disposition Loss (Gain), Transactional and other advisory costs, changes in the value of earnouts, and other.
The Company considers Same Store Revenue as an important financial measure because it provides comparable revenue for locations open for the entire duration of both the current and comparable measurement periods.
The Company considers Adjusted EBITDA as an important financial measure because it provides a financial measure of the quality of the Company’s earnings. Other companies may calculate Adjusted EBITDA differently than we do, which might limit its usefulness as a comparative measure. Adjusted EBITDA is used by management in addition to and in conjunction with the results presented in accordance with GAAP. We have presented Adjusted EBITDA solely as a supplemental disclosure because we believe it allows for a more complete analysis of results of operations and assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.
CULVER CITY, Calif., Aug. 18, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will hold a conference call and webcast on Tuesday, August 19, 2025 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2025.
Snail Games management will host the conference call and webcast. Participants may listen to the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
CULVER CITY, Calif., Aug. 08, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, officially announced The Fame Game: Welcome to Hollywood, a new dating simulation title being developed and published under its subsidiary Interactive Films LLC.
Narrative-led games with relationship mechanics have shown strong user retention particularly among players seeking personalized, emotionally interactive gameplay. The Fame Game: Welcome to Hollywood follows a story told from a male perspective, designed to resonate with a wide audience through branching narrative paths and high likelihood of replays driven by multiple possible endings.
According to Newzoo’s 2024 Global Gamer Study, life and relationship simulation games have experienced a 40% year-over-year rise in player engagement, especially among the 18-34 demographic. Deloitte’s 2023 Digital Media Trends report further highlights the shifting emotional landscape of modern players: 50% of Gen Z and Millennials report stronger emotional connections to fictional characters than to real people, and nearly one in three say games help fulfill their need for meaningful connection.
The project benefits from streamlined mechanics that allow for cost-effective development and rapid iteration, while preserving the game’s emotional depth. Its accessible gameplay structure lowers the barrier to entry, making it approachable for gamers across experience levels – particularly for casual players or those new to narrative-focused games. This design philosophy supports a wider potential audience while minimizing production overhead.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
About Interactive Films LLC Interactive Films (IF), a film and media subsidiary of Snail, Inc., was founded with the goal of reaching new video audiences, engaging enthusiastic viewers, and telling stories across various formats. IF is also the catalyst behind SaltyTV, a specialized film application designed to produce and showcase compelling short-form vertical content. The SaltyTV app is available for download from the iOS App Store and the Google Play Store. For more information, please visit: https://interactive-films.com/
Forward-Looking Statements This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding that this project represents a strategic expansion into the high-engagement relationship sim genre and that narrative-led games with relationship mechanics have shown strong user retention particularly among players seeking personalized, emotionally interactive gameplay. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
CULVER CITY, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced that it has entered into an At The Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright & Co. as sales agent to sell its shares of Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock” or the “Shares”), from time to time in an at the market offering (the “Offering”). Pursuant to the Prospectus Supplement (as defined below) and accompanying base prospectus, we may offer and sell shares of the Class A Common Stock from time to time under the Sales Agreement, having an aggregate offering price of up to $4,500,000 in the Offering.
Snail, Inc. currently intends to use the net proceeds from the sale of the shares of the Class A Common Stock offered by the Company under the Sales Agreement (if any) primarily for working capital to support the Company’s digital asset initiative that includes the evaluation and feasibility for introduction of the Company’s own proprietary stablecoin backed by U.S. dollars and for certain net proceeds to serve as the reserve asset for the stablecoins that the Company intends to issue.
The sales, if any, of the Shares made in the Offering will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the Nasdaq Capital Market (the “Nasdaq”) or any other existing trading market for the Class A Common Stock.
The Offering will be made only by means of a prospectus supplement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 7, 2025, together with the accompanying base prospectus contained therein (the “Prospectus Supplement”), which Prospectus Supplement forms a part of the Company’s shelf registration statement on Form S-3 (File No. 333-282030) (the “Registration Statement”), which was declared effective by the SEC on September 20, 2024. Electronic copies of the Prospectus Supplement and accompanying base prospectus may be obtained on the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022 at atm@hcwco.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of Class A Common Stock discussed herein, nor shall there be any sale of such shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding (i) that we will sell shares of Class A Common Stock, if any, in the Offering and the price at which any such shares will be sold, (ii) that investors who buy shares at different times in the Offering will likely pay different prices, (iii) the proposed use of proceeds, if any, from the Offering, and (iv) the Company’s ability to successfully explore a strategic digital asset initiative that includes the evaluation and feasibility for introduction of its own proprietary stablecoin backed by U.S. dollars, including, but not limited to the various licensing requirements and significant compliance costs that the Company will face to implement such initiative. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC, the Company’s Current Reports on Form 8-K and other documents filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Mixed Q2 results. The company reported Q2 revenue of $10.1 million, below our forecast of $12.5 million, driven by continued underperformance in the Sell-side business, which generated $2.5 million vs. our forecast of $4.5 million. Despite the shortfall, adj. EBITDA loss of $1.5 million was better than expected, aided by cost reductions and lower headcount from increased automation.
Implications for second half performance. The Q2 revenue miss was largely attributable to slower-than-expected progress with the company’s “direct connections” initiative, in which its SSP integrates directly with DSPs to bypass intermediaries. While the strategy remains a critical long-term growth lever, the implementation delays have weighed on near-term Sell-side revenue performance, as well as the outlook for the second half 2025.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
CULVER CITY, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will hold a conference call and webcast on Wednesday, August 13, 2025 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2025.
Snail Games management will host the conference call and webcast, followed by a question-and-answer period. Participants may listen to the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
Revenues Increased 24% Sequentially Over Q1 2025; Consolidated Gross Margin Improved Sequentially to 35% Compared to 29% in Q1 2025
Reduced Operating Expenses by 25% in Q2 2025 Compared to Q2 2024 Driven by Continued Progress with Strategic Cost Saving Initiatives
Net Loss and Adjusted EBITDA1 Loss Improved Sequentially Over Q1 2025 by $1.7 Million and $1.6 Million, Respectively, Reflecting a Sequential Increase in Buy-Side Revenue and Related Gross Profit
HOUSTON, Aug. 5, 2025 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”) and Orange 142, LLC (“Orange 142”), today announced financial results for the second quarter ended June 30, 2025.
Mark D. Walker, Chairman and Chief Executive Officer, commented, “Our focus in the first half of 2025 has been on rebuilding and growing our business following the disruption that substantially impacted our sell-side business in 2024. We delivered a sequential revenue increase of 24% in the second quarter, driven by strong growth in both our sell-side and buy-side businesses compared to the first quarter of 2025. We’re encouraged by the activity we’re seeing with our agency, brand, and publisher partners, and believe that our sell-side business is well positioned to benefit from the full integration of direct connections in the latter half of this year. We expect these connections to have a meaningful impact on our revenues and be a key driver of growth going forward. Furthermore, during the second quarter we reduced operating expenses by 25% compared with the second quarter of 2024, reflecting our ongoing strategic initiatives to drive efficiencies and accelerate our return to profitability.”
Keith Smith, President, commented, “Through a challenging period, we are successfully implementing our plan to return the business to growth and value creation and remain focused on delivering improved performance in the back half of 2025.”
Second Quarter 2025 Highlights
Processed approximately 182 billion average monthly impressions through the sell-side advertising segment.
Number of sell-side advertisers increased over 30% compared to the second quarter of 2024.
Average sell-side media properties of 30,000 per month in the second quarter of 2025 increased 5% compared to the second quarter of 2024; increased 34% over the same period in 2023; and increased 26% sequentially compared to the first quarter of 2025.
Buy-side advertising segment served over 220 customers in the second quarter of 2025.
Buy-side advertising revenue for the second quarter of 2025 included $1.0 million from customers in new verticals, reflecting the Company’s ongoing expansion efforts.
Continued to consider strategic opportunities to support key growth initiatives and drive long term value for shareholders.
Second Quarter 2025 Financial Results
Revenue of $10.1 million decreased 54% compared to $21.9 million in the second quarter of 2024. Revenue increased 24% compared to first quarter 2025.
Sell-side advertising segment revenue of $2.5 million decreased 83% compared to $14.3 million in the second quarter of 2024, primarily related to a decrease in impression inventory when compared to the second quarter of 2024.
Buy-side advertising segment revenue of $7.7 million increased slightly compared to $7.6 million in the same period of 2024.
Gross profit was $3.6 million, or 35% of revenue, compared to $5.9 million, or 27% of revenue, in the second quarter of 2024. Gross profit also increased compared to $2.4 million, or 29% of revenue, in the first quarter of 2025.
Operating expenses of $6.0 million decreased $2.0 million, or 25%, compared with $8.0 million in the same period of 2024. The reduction in operating expenses was primarily driven by decreased payroll costs related to the Company’s internal reorganization and cost saving measures to lower certain ongoing expenses.
Operating loss was $2.4 million, compared to operating loss of $2.1 million in the prior year period. Operating loss decreased 38% from $3.9 million in the first quarter of 2025.
Net loss was $4.2 million compared to net loss of $3.1 million in the second quarter of 2024.
Adjusted EBITDA loss was $1.5 million in the second quarter of 2025 compared to a loss of $1.3 million in the second quarter of 2024 and a loss of $3.0 million in the first quarter of 2025.
As of June 30, 2025, the Company held cash and cash equivalents of $1.6 million compared to $1.4 million as of December 31, 2024.
Six Months Ended June 30, 2025 Financial Results
Revenue of $18.3 million decreased 59% compared to $44.1 million in the first six months of 2024.
Sell-side advertising segment revenue of $4.5 million decreased 85% compared to $30.8 million in the first half of 2024, primarily related to a decrease in impression inventory when compared to the second quarter of 2024.
Buy-side advertising segment revenue of $13.8 million increased 3% compared to $13.3 million in the same period of 2024.
Gross profit was $6.0 million, or 33% of revenue, compared to $10.9 million, or 25% of revenue, in the first six months of 2024.
Operating expenses of $12.3 million decreased $3.5 million, or 22%, compared with $15.8 million in the same period of 2024. The reduction in operating expenses was primarily driven by decreased payroll costs related to the Company’s internal reorganization and cost saving measures to lower certain ongoing expenses.
Operating loss was $6.4 million, compared to operating loss of $4.9 million in the first half of the prior year.
Net loss was $10.1 million compared to net loss of $7.0 million in the first six months of 2024.
Adjusted EBITDA1 loss was $4.5 million in the first six months of 2025 compared to a loss of $3.0 million in the first six months of 2024.
Financial Outlook
“We are pleased with the progress thus far this year and are positioned to deliver a strong back half of the year. Due to uncertainty in the market as a whole as well as the timing of our continued rebuild of the sell-side business, we are unable to provide specific revenue guidance at this time. Once we have better visibility on the sell-side of our business, it is our intention to reinstate revenue guidance in the future,” Mr. Walker commented.
Diana Diaz, Chief Financial Officer, commented, “We are working toward a strong back half of the year driven by enhanced buy side activity through Orange 142 and the ongoing recovery of the Company’s sell-side business as it rebuilds to historical levels. We believe that we are well positioned to continue driving cost reductions, innovation, operational efficiencies, and revenue growth as we rebuild our business back to profitability.”
Conference Call and Webcast Details
Direct Digital will host a conference call today, August 5, 2025, at 5:00 p.m. Eastern Time to discuss the Company’s second quarter 2025 financial results. The live webcast and replay can be accessed at https://ir.directdigitalholdings.com/news-events/ir-calendar. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software. For those who cannot access the webcast, a replay will be available at https://ir.directdigitalholdings.com/.
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1″Adjusted EBITDA” is a non-GAAP financial measure. The section titled “Non-GAAP Financial Measures” below describes our usage of non- GAAP financial measures and provides reconciliations between historical GAAP and non-GAAP information contained in this press release.
This press release contains forward-looking statements within the meaning of federal securities laws that are subject to certain risks, trends and uncertainties. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the information described under the caption “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “Form 10-K”) and subsequent periodic and or current reports filed with the Securities and Exchange Commission (the “SEC”).
The forward-looking statements contained in this press release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions.
Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements. We believe these factors include, but are not limited to, the following: the restrictions and covenants imposed upon us by our credit facilities; the substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing; our ability to secure additional financing to meet our capital needs; our ineligibility to file short-form registration statements on Form S-3, which may impair our ability to raise capital; our failure to satisfy applicable listing standards of the Nasdaq Capital Market resulting in a potential delisting of our common stock; costs, risks and uncertainties related to restatement of certain prior period financial statements; any significant fluctuations caused by our high customer concentration; risks related to non-payment by our clients; reputational and other harms caused by our failure to detect advertising fraud; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; our failure to manage our growth effectively; the difficulty in identifying and integrating any future acquisitions or strategic investments; any changes or developments in legislative, judicial, regulatory or cultural environments related to information collection, use and processing; challenges related to our buy-side clients that are destination marketing organizations and that operate as public/private partnerships; any strain on our resources or diversion of our management’s attention as a result of being a public company; the intense competition of the digital advertising industry and our ability to effectively compete against current and future competitors; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; as a holding company, we depend on distributions from Direct Digital Holdings, LLC (“DDH LLC”) to pay our taxes, expenses (including payments under the Tax Receivable Agreement) and any amount of any dividends we may pay to the holders of our common stock; the fact that DDH LLC is controlled by DDM, whose interest may differ from those of our public stockholders; any failure by us to maintain or implement effective internal controls or to detect fraud; and other factors and assumptions discussed in our Form 10-K and subsequent periodic and current reports we may file with the SEC.
Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this press release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. New factors that could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them. Further, we cannot assess the impact of each currently known or new factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT) combines cutting-edge sell-side and buy-side advertising solutions, providing data-driven digital media strategies that enhance reach and performance for brands, agencies, and publishers of all sizes. Our sell-side platform, Colossus SSP, offers curated access to premium, growth-oriented media properties throughout the digital ecosystem. On the buy-side, Orange 142 delivers customized, audience-focused digital marketing and advertising solutions that enable mid-market and enterprise companies to achieve measurable results across a range of platforms, including programmatic, search, social, CTV, and influencer marketing. With extensive expertise in high-growth sectors such as Energy, Healthcare, Travel & Tourism, and Financial Services, our teams deliver performance strategies that connect brands with their ideal audiences.
At Direct Digital Holdings, we prioritize personal relationships by humanizing technology, ensuring each client receives dedicated support and tailored digital marketing solutions regardless of company size. This empowers everyone to thrive by generating billions of monthly impressions across display, CTV, in-app, and emerging media channels through advanced targeting, comprehensive data insights, and cross-platform activation. DDH is “Digital advertising built for everyone.”
PURCHASE, N,Y., Aug. 05, 2025 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare” or the “Company”), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Renda Media, a local media company with a strong presence in six U.S. cities (including Ft. Myers/Naples, FL; Jacksonville, FL; Pittsburgh, PA; Indiana, PA; Greensburg, PA; and Punxsutawney, PA) that do not overlap with Townsquare’s market footprint.
“We’re excited to partner with Renda Media to bring our market-leading digital advertising solutions to their expansive client base,” said Todd Lawley, President of Townsquare Ignite, the Company’s Digital Advertising division. “Our success stems from a deep expertise in leveraging our proprietary in-house programmatic platform and data-driven strategies to deliver measurable value. Through this partnership, we look forward to equipping Renda Media with the tools, insights, and proven strategic approach needed to strengthen their digital capabilities and accelerate client growth.”
Townsquare announced the launch of their Media Partnerships division in 2024. As part of the Company’s Digital Advertising segment (also called Townsquare Ignite), the Media Partnerships division provides a white-label service that equips other local media companies with the digital advertising solutions that have fueled Townsquare’s own growth and success, with digital now comprising over 50% of Townsquare’s total revenue and profit. With this alliance with Renda Media, Townsquare now has six media partners, reaching 19 incremental markets that do not overlap with Townsquare’s own footprint. Through this partnership, Townsquare will share its expertise and resources with Renda Media, focusing on customized, data-driven strategies that meet the unique needs of local, regional and national businesses, helping Renda Media grow its digital business alongside its respected broadcast presence.
“Years ago, I heard of a radio company that was getting more involved with the digital business. Through the years, I have watched and admired Townsquare as they grew their digital business into a media leader,” said Tony Renda, Sr., CEO of Renda Media. “Renda Media is proud to announce our partnership with Townsquare. They bring years of digital experience, knowhow, and professionalism to this partnership.”
About Townsquare Media, Inc. Townsquare is a community-focused digital and broadcast media and digital marketing solutions company principally focused outside the top 50 markets in the U.S. Townsquare Ignite, our robust digital advertising division, specializes in helping businesses of all sizes connect with their target audience through data-driven, results based strategies, by utilizing a) our proprietary digital programmatic advertising technology stack with an in-house demand and data management platform and b) our owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data. Townsquare Interactive, our subscription digital marketing services business, partners with SMBs to help manage their digital presence by providing a SAAS business management platform, website design, creation and hosting, search engine optimization and other digital services. And through our portfolio of local radio stations strategically situated outside the Top 50 markets in the United States, we provide effective advertising solutions for our clients and relevant local content for our audiences. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.
About Renda Media Renda Media is a privately held radio broadcasting company with its corporate office located in Pittsburgh, PA. The company manages affiliates, operating 18 radio stations in 6 markets: Ft. Myers/Naples, FL, Jacksonville, FL, Pittsburgh, PA, Indiana, PA, Greensburg, PA and Punxsutawney, PA. Everyday Renda Media delivers Entertainment, Information and News to thousands of listeners. For more information, visit www.rendabroadcasting.com.
LIMASSOL, Cyprus, Aug. 05, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), a global gaming and entertainment company, today announced the acquisition of Light Hour Games, a privately held mobile studio based in Cyprus.
Light Hour Games is a full-stack studio that builds and markets mobile casual games using AI-first workflows — enabling rapid iteration without compromising high-quality execution. Founded by industry veterans Konstantin Mitrofanov and Ilya Nikitin, the studio operates as a 15-person team with deep expertise across game development, art, and live operations.
The acquisition represents a strategic partnership that will grant the Light Hour Games studio the opportunity for continued creative freedom and long-term upside through a share in the future success of its games, while securing the necessary funding for its operations through GDEV. As part of GDEV’s ecosystem, Light Hour Games will gain access to GDEV’s knowledge and data platforms.
“By welcoming Light Hour Games into the GDEV family we secure a talented crew whose lean structure, deep industry experience and advanced AI-driven toolset perfectly complement our growth strategy. Our philosophy has always been about enabling the best creators with the resources and freedom they need to succeed,” said Andrey Fadeev, CEO of GDEV. “With Light Hour Games, we see an opportunity to bring fresh ideas and approaches to a proven genre – and we believe this team has the experience and ambition to build something truly special.”
Konstantin Mitrofanov, CEO of Light Hour Games, shared: “Partnering with GDEV gives our studio both the financial runway and the strategic reach to realise our ambitions. With GDEV’s support, we can focus on crafting a casual experience that not only engages players from day one, but grows over time into a meaningful part of their everyday lives.”
About GDEV Inc.
GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.7 billion of bookings worldwide. For more information, please visit www.gdev.inc.
About Light Hour Games
Light Hour Games is an AI-first game development studio and a part of GDEV. Based in Cyprus and founded by industry veterans, the company combines deep production expertise with cutting-edge AI workflows to accelerate development and enhance game quality. The studio focuses on creating mobile casual experiences that are emotionally engaging, scalable, and built to evolve with their players over time.
Contacts:
Investor Relations Roman Safiyulin | Chief Corporate Development Officer investor@gdev.inc
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment, one of the world’s premier owner/operators of location-based entertainment, today announced the acquisition of two iconic water parks, Raging Waters Los Angeles and Wet ‘n Wild Emerald Pointe, and three high-performing family entertainment centers: Castle Park in Riverside, CA; Boomers Vista, CA; and Boomers Palm Springs, CA. These venues attract over 1.5 million annual guests and reinforce Lucky Strike’s growing presence in the waterpark, amusement, and family entertainment center formats.
“This acquisition accelerates our vision to build the leading platform of location-based entertainment destinations in North America,” said Thomas Shannon, Founder, Chairman, and CEO of Lucky Strike Entertainment. “Each of these properties has deep roots and established guest loyalty in their communities. We see tremendous opportunity to elevate the guest experience and continue our playbook of strategic investment in high-return opportunities to expand our portfolio, create network economies between the assets, and reshape the future of entertainment.”
Raging Waters Los Angeles, located in San Dimas, is the largest water park in California and has been a summer tradition for generations of Southern California families. Set across approximately 60 acres, the park features more than 50 attractions, including 14 signature water slides, wave pools, lazy rivers, and splash zones. It draws approximately 450,000 visitors annually. The park remains one of the most iconic and recognizable water destinations on the West Coast.
Wet ‘n Wild Emerald Pointe in Greensboro, North Carolina, is one of the largest and most recognizable water parks in the Southeast. Spanning 40 acres with over 40 attractions, including high-thrill slides, a massive wave pool, and family-friendly splash zones, it has built a loyal following as a top destination for seasonal recreation across the Piedmont Triad region over the last few decades.
Castle Park in Riverside, California, is a 24-acre regional amusement park with deep roots in the Inland Empire. Originally developed by amusement industry pioneer Bud Hurlbut in 1976, the park blends nostalgic charm with more than 20 rides, four themed miniature golf courses, midway games, and a two-story arcade. Castle Park attracts over 250,000 visitors annually and benefits from its high-visibility location along the 91 Freeway.
Boomers Vista, in North San Diego County, is a high-quality family entertainment center featuring go-karts, laser tag, batting cages, two 18-hole mini golf courses, and a 99-game arcade. With roughly 150,000 visitors annually, Boomers Vista has long been a popular destination for birthday parties, group outings, and year-round family fun.
Boomers Palm Springs offers a vibrant mix of indoor and outdoor attractions on 3.5 acres in the heart of the Coachella Valley. The park includes go-karts, bumper boats, a rock wall, batting cages, three mini-golf courses, and over 85 arcade games. It welcomes both the local community and tourists seeking a unique family-friendly experience.
In closing, Thomas Shannon stated, “This is a major step in our long-term strategy. Each of these properties complements our portfolio, adds to our scale economies and the network effects of having a nationwide, rain-or-shine offering for our valued guests.”
About Lucky Strike Entertainment Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
