Motorsport Games Considers Strategic Alternatives, Incl. Potential Sale; To Cut Jobs

(RTTNews) - Motorsport Games Inc. (MSGM) said its board has authorized management to consider strategic alternatives to maximize shareholder value, including a potential sale or merger of the Company.

The Management is also seeking funding that would allow it to deliver on viable opportunities including bringing Le Mans Ultimate to Sony PlayStation and Microsoft Xbox gaming consoles.

In addition, the company has undergone a restructuring including headcount reductions that have been undertaken in its business as part of an ongoing initiative to reduce cash expenditure and further improve efficiency.

As part of the restructuring, the Company determined to implement additional measures to continue to bring down its year-over-year operating expense through a reduction of the Company's workforce primarily in the United States and the United Kingdom.