DENVER, CO — (Marketwired) — 10/05/17 — SPYR, INC. (OTC PINK: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today commented on Newzoo–s latest quarterly update of the Global Games Market Report.
Newzoo is a global leader in games, esports, and mobile intelligence and recently released its 2017 Global Games Market Report. SPYR–s CEO and President, James R. Thompson, believes the report validates the company–s current strategy for moving forward in the games industry.
James R. Thompson stated, “With Newzoo reporting that games revenues of the top 25 public companies is up 20 percent to over $41 billion in the first half of 2017 as compared to 2016, it is clear that we–ve chosen the right direction for SPYR. As we continue to grow our company and further develop our flagship game Pocket Starships, our plan to add more games to our current portfolio, with an emphasis on mobile, the largest segment, and our efforts to implement an aggressive acquisition strategy are validated by an industry report like this latest update from Newzoo.”
Newzoo states in its latest report, “This year is a landmark in the history of the games market, with revenues exceeding the $100 billion mark to total $109 billion. Five years ago, when Newzoo launched its first Global Games Market Report, global revenues amounted to approximately $70 billion. A growth of 56% in five years illustrates how game companies have not only pioneered new ways of engaging and entertaining consumers, but have also led the way in innovating business models to suit the digital age. The future outlook for games has never been better but requires a new way of looking at the market.”
The latest quarterly update of Newzoo–s Global Games Market Report also stated, “Traditional boundaries between games, media, telecom, and sports industries are disappearing and sparking new partnerships and M&A activity across the globe.”
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. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.
Safe Harbor Statement:
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC–s website located at , as well as SPYR–s website located at , and SPYR–s community channel on Twitter located at .
Investor Relations Contact:
Marlin Molinaro
Marmel Communications, LLC
(828) 669-0616
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