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ASX-listed online gaming platform provider SportsHero (ASX:SHO) has officially “launched” its Family Game Pass (or “Family Room”) product in Indonesia as an existing deal with a major telco “goes live.”
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(In other words, Indonesians can now buy game passes to play leading video game titles, given that telco XL Axiata is now promoting that offer.)
Worth noting is they won’t be buying those passes of SportsHero itself necessarily, but rather, through iGamer Vault (“iGV”), a ‘gaming marketplace’ provider with whom SportsHero has an existing partnership.
Still, with SportsHero to take a 75% cut of each purchase made of a family game pass via XL Ataxia, the revenue potential is more meaningful than a recent deal it struck in the Philippines, where materiality was more ethereal.
“XL Axiata will offer their customers the opportunity to use Direct Carrier Billing (DCB) to subscribe and seamlessly pay for the iGV Family Game Pass using their existing billing account, reducing the need for a separate sign up process,” SportsHero clarified in a market release shared on Wednesday.
“XL Axiata is Indonesia’s third largest Telco with 12.4% of the market, approx. 57.5 million customers.”
After iGV gets its share of that 75% revenue cut, SportsHero is expecting profit margins to hit “at least” 38%. Whether that could help the stock continue its fairly quiet-but-still-monumental-run remains another matter.
Still, it wouldn’t take too much liquidity to make numbers go up.
The share price is up +350% over the last year, to 2.7cps.
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Of course, then there’s the fact that as of 10.30am Sydney time on Wednesday, $0 worth of shares had traded hands according to a service porting Morningstar data.
That could be a pretty serious catch for many traders.
SHO last traded at 2.7cps.
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