CORRECTION: Motorsport Games Enters into Share Repurchase Agreement, Reinforcing Confidence in Company’s Growth Trajectory

Motorsport Games Enters into Share Repurchase Agreement, Reinforcing Confidence in Company’s Growth Trajectory

MIRAMAR, Fla., April 27, 2026 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Motorsport Games Inc. (NASDAQ: MSGM), the first paragraph has been updated. The corrected release follows:

Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or the "Company"), a racing game developer, publisher, and esports ecosystem provider, today announced the repurchase of 904,395 shares of Class A Common Stock from Driven Lifestyle Group LLC (“Driven Lifestyle”) at $4.11 per share which is the average of the 5 day closing price on the date of execution of the agreement – a price the Company is comfortable with following its recent turn to profitability and its expectation of a continued strengthening of its financial outlook.

This transaction marks a significant step forward in Motorsport Games’ Corporate governance, with several important changes taking effect simultaneously:

• Equal voting rights for all shareholders. All Class B shares, which carried a 10x voting advantage, have been retired. Every share of stock now holds equal voting power – a meaningful improvement in transparency and fairness.

• Renewed ability to reward and retain key talent. Shareholders have approved an increase in the number of awards available for grant pursuant to its employee equity plan, giving the Company an important tool to incentivize and retain the people who are driving its growth. 
  
  

Taken together, these changes are expected to significantly strengthen the Company’s corporate governance and position the Company well for its next stage of growth.

“This share repurchase is a direct reflection of how far Motorsport Games has come,” said Stephen Hood, President and Chief Executive Officer. “Our strengthened financial position has given us the ability to act, returning greater ownership and strategic influence to the Company and ultimately to the benefit of all shareholders. We are grateful to Driven Lifestyle for their support at the Company’s inception. It is a source of great encouragement that they have elected to retain a minority shareholding in the Company.”

“Le Mans Ultimate continues to drive all-time high engagement, RaceControl is growing strongly featuring recurring revenue through subscriptions while supporting our online gameplay, and we are building a long-term development roadmap that is expected to see us expand our portfolio with new products and experiences for racing fans worldwide,” continued Hood. “The future of Motorsport Games is one we’re building for the long term, not just the next quarter, but the next decade. We see this as another positive milestone in the history of our resurgent company.”

About Motorsport Games:

Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate Version 1.3 featuring new cars, circuit and additional improvements. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires.

For more information about Motorsport Games visit: www.motorsportgames.com.

Forward-Looking Statements

Certain statements in this press release, the related conference call and webcast which are not historical facts 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements or information in this press release, the related conference call and webcast that are not statements or information of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the statements concerning the expectation of a continued strengthening of its financial outlook, the increase in the number of awards available for grant pursuant to the employee equity plan, giving the Company an important tool to incentivize and retain the people who are driving its growth,building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires; changes significantly strengthening the Company’s corporate governance and positioning the Company well for its next stage of growth; the Company’s strengthened financial outlook giving it the ability to act, and ultimately benefit all shareholders; Le Mans Ultimate continuing to drive all-time high engagement; RaceControl growing strongly and providing recurring revenue through subscriptions while supporting the Company’s online gameplay; the Company’s long-term development roadmap seeing it expand its portfolio with new products and experiences for racing fans worldwide; the future of Motorsport Games being built for the long term; and the Company’s resurgence.

All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, without limitation, the Company’s ability to continue strengthening of its financial outlook, continue its growth and expand its portfolio, the ability to incentivize and and retain people, the ability to benefit all shareholders, the ability to make racing games that are authentically close to reality and build a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires.

Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the Company’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as in its subsequent filings with the SEC. The Company anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. The Company assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company’s plans and expectations as of any subsequent date.

Website and Social Media Disclosure

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Contacts:

Investors:

[email protected]

Media:

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf9cb55f-f319-47c0-a48a-354eacd21eb6