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2019-03-05

Nitro Games Oyj: Redeye: Nitro Games - Searching for cash flows

At the moment Nitro Games has not signed a new bigger "work for hire"
contract which means the company is forced according to Finnish law
to start so-called "Cooperation Negotiations". The negotiations
should have started on February 25 and is estimated to reduce
personnel cost. The fact that Wargaming was not interested in
publishing Runegate Heroes means the company does not see a huge
commercial potential in the game. However, of course, Nitro Games and
Wargaming has a different position in the market, which means a huge
success for Nitro Games is too small for Wargaming. We have lowered
our revenue estimates in 2019 and changed our fair value range.
(https://www.redeye.se/articles/download-file/3d812d37-5a9c-329e-8c15-f20...)

Read more and download the research update: http://bit.ly/2EOtzQW

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This is a press release from Redeye - Research Powered Investment
Banking. https://www.redeye.se/about/

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https://news.cision.com/se/nitro-games-oyj/r/redeye-nitro-games--searchi...

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