|Bid||0.0000 x N/A|
|Ask||0.0000 x N/A|
|Day's range||0.3935 - 0.3995|
|52-week range||0.3935 - 0.3995|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||62.22|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- As Microsoft Corp. and Sony Corp. prepare to launch their new video-game consoles, another legendary player, Atari, is readying its first new hardware in more than 20 years. The Atari VCS will come with a twist -- a way for gamers to spend a cryptocurrency while they play.First teased several years ago and expected to ship in November, the Atari VCS is being called a mini-console or a gaming computer. The product will offer access to more than 100 Atari arcade games and home classics, like Pong, plus new titles. It will have internet connectivity and let consumers buy products using Atari Tokens, which will go on sale in late October.“We have a brand, we have a following -- we think we are going to get some attention in any case,” said Chief Executive Officer Frederic Chesnais, adding that his competition is more the iPhone than an Xbox or PlayStation. “After that the product has to be good.”On Oct. 29, Bitcoin.com Exchange will start selling $1 million worth of Atari Tokens for 25 cents apiece to retail investors outside of the U.S. The tokens will be used for in-game purchases and for partner games, as well as eventually in the broader gaming ecosystem if Atari’s effort to create a standard currency for the industry bears fruit. The company is also working on a gaming stablecoin, which won’t be as volatile as most tokens. But it isn’t close to launch, said Chesnais, who led Atari out of its 2013 bankruptcy.The push is part of Chesnais’s seven-year effort to revitalize Atari SA, making it more modern and relevant. While Atari’s predecessor companies raised a whole generation of gamers with arcade and home titles like Asteroids and Missile Command in the 1970s and 1980s, it has long been sidelined by stronger, bigger rivals. The company has been split into pieces, merged and emerged from bankruptcy. Today’s Atari is tiny, with only about 20 staffers. Its Paris-traded shares have languished below 50 cents since 2018, when the company announced a cryptocurrency effort.But Chesnais has great ambitions for Atari, which largely hinge on nostalgia for the brand.“The consumer going for the retro systems is different than what the new consoles are targeting,” said David Cole, CEO at digital entertainment researcher DFC Intelligence. “And yes, that is an opportunity.”So far, more than 11,500 people have preordered the new hardware through the crowdfunding site Indiegogo, where Atari ran a campaign for the player and took in more than $3 million.The company is facing economic headwinds. While Covid-19 has led to a surge in people staying home and playing games, many millions have lost their jobs or fear losing them. That could limit their spending this holiday season and push consumers to opt for major players’ new consoles, instead.There’s also the pricing. Atari’s all-in bundle, which includes an 8-gigabyte Atari VCS, a wireless controller, a wireless classic joystick, and 100 classic arcade and console games, costs $390. The Xbox Series S starts at $300.“I am kind of pessimistic, to be honest, because you are going head to head with Xbox and PlayStation 5,” said Lewis Ward, an analyst at researcher IDC. “Obviously if you are a huge fan of Atari games, there’s always a nostalgia basis. But simply on a price-to-value ratio, I don’t see how this becomes more than a niche product.”Covid-19 had already delayed the VCS -- it was previously scheduled to ship in March. What’s more, Atari faces looming competition even in the retro category. Intellivision Entertainment plans to release its Amico player early next year with a starting price of around $249. That player “is looking more impressive,” Cole said.Atari’s foray into cryptocurrencies could also be hit or miss. Past efforts to marry tokens with video games haven’t panned out. The good news is that cryptocurrency enthusiasts are also gamers. If Atari’s tokens do take off, they could be an “on-ramp for a major increase in crypto use,” according to Aaron Brown, a crypto investor who writes for Bloomberg Opinion.“We’ll see how it plays up,” Chesnais said. “We don’t need to sell millions in the beginning, it’s a long-term effort.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Atari Token: Public Sale of the Atari Token to begin October 29, 2020 on Bitcoin.com Exchange Bitcoin.com Exchange to launch public sale of Atari Token on October 29, 2020Price per Atari Token $0.25 Listing of Atari Token on Bitcoin.com Exchange following upon completion of public sale Paris, October 16, 2020 – The Atari Group, one of the world’s most iconic consumer brands and interactive entertainment producers, announces the details for the upcoming public sale of the Atari Token on the Bitcoin.com Exchange. Atari is evolving with its time and setting itself on a new mission to conquer the crypto space by creating a token of reference for the videogame industry, enabling access to as many platforms and users as possible via atarichain.com, the Atari wallet and more generally the creation of a blockchain-based ecosystem anchored around the Atari brand. Atari’s objective is to progressively develop the adoption and the use cases of the Atari Token throughout the ecosystem and it has already entered into many partnership agreements to further this objective. The first use cases are in the domains where the Group is already active: video games or blockchain games, with ambitions to expand into DeFi for game financing. The list of such partnerships is available at www.atarichain.com. The public sale is implemented by Atari Chain, Ltd (“Atari Chain”), a subsidiary of Atari, SA, held in parity with the ICICB Group and based in Gibraltar. The Atari Group is entitled to 35% of the revenue derived from the sales of the Atari Token. For more information, please visit www.atarichain.com. The public sale of the Atari Token on the Bitcoin.com Exchange will begin on October 29, 2020. The price per Atari Token has been set at $0.25 per token with a hard cap for the public sale of $1 million. The Atari Token will be listed on the Bitcoin.com Exchange following the completion of the public sale. “Teaming up with Bitcoin.com was a natural choice for Atari” said Frédéric Chesnais, CEO of Atari. “Both teams are working hand in hand to reach mass adoption of the Atari Token, with a goal of delivering the ultimate experience in the video game and interactive entertainment industry”. Disclaimer / Risk factors: The realization of the plans, and their operational budget and financing plan remain inherently uncertain, and the non-realization of these assumptions may impact their value. About Atari: Atari, comprised of Atari SA and its subsidiaries, is a global interactive entertainment and multiplatform licensing group. The true innovator of the video game, founded in 1972, Atari owns and/or manages a portfolio of more than 200 games and franchises, including globally known brands such as Asteroids®, Centipede®, Missile Command® and Pong®. From this important portfolio of intellectual properties, Atari delivers attractive online games for smartphones, tablets, and other connected devices. Atari also develops and distributes interactive entertainment for Microsoft, Sony and Nintendo game consoles. Atari also leverages its brand and franchises with licensing agreements through other media, derivative products and publishing. For more information: www.atari.com and www.atari-investisseurs.fr/en/. Atari shares are listed in France on Euronext Paris (Compartment C, ISIN Code FR0010478248, Ticker ATA), in Sweden on Nasdaq First North Growth Market as Swedish Depositary Receipts (ISIN Code SE0012481232, Ticker ATA SDB) and are eligible for the Nasdaq International program in the United States (OTC - Ticker PONGF). Contacts Atari - Philippe Mularski, CFO Calyptus - Marie Calleux Tel +33 1 83 64 61 57 - email@example.com Tel + 33 1 53 65 68 68 – firstname.lastname@example.org Redeye AB (Certified Adviser) Tel: +46 8 121 576 90 – email@example.com This is information that Atari SA. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on October 16, 2020 at 08:00am CET. Attachment 2020 10 16 CP IEO ATRI -EN
The Atari Group, one of the world’s most iconic consumer brands and interactive entertainment producers, announces today an agreement with Bitcoin.com Exchange for a public sale and the listing of the Atari Token (ATRI) on Bitcoin.com Exchange. The public sale is slated for early November 2020, with details to be announced in the next few weeks by Bitcoin.com Exchange.