Business
Mobile and digital gaming portfolio update
Mobile and digital gaming portfolio update.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n\nRNS Reach 13 June 2023\n \nMercia Asset Management PLC\n \n(\"Mercia\" the \"Company\" or the \"Group\")\n \nMobile and digital gaming portfolio update\n \nMercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.4billion of assets under management (\"AuM\"), is pleased to provide an update on its investments in the mobile and digital gaming sector.\n \nAs at 30 September 2022, mobile and digital gaming investments accounted for c.33% of Mercia's direct investment portfolio by value. Mercia also invests in a number of gaming businesses through its managed funds.\n \nThis is an important sector for Mercia with most of the c.2,200 game development studios in the UK being SMEs, making them a natural fit for Mercia's investment criteria and sector expertise. The UK has a strong commercial track record of producing innovative, fast growing and globally successful gaming studios. The sector employs over 47,000 people directly and indirectly, while the UK's tax relief for video game development has helped attract significant investment in the sector. The global gaming market was valued at $184.4billion in 2022 and is forecast to grow by 5% per annum, reaching $211billion and 3.6billion players by 2025*.\n \n*Deloitte Video Game Market; Market update Q1 2023\n \nDirect Portfolio update\n \nnDreams Limited (\"nDreams\") - 33.2% fully diluted direct investment\n \nnDreams, a virtual reality (\"VR\") game developer and publ...