- Casino heir Mario Ho takes esports company public.
- NIP Group focuses on streaming and digital entertainment.
- Company faces profitability challenges amid ambitious expansion plans.
From casinos to controllers
Mario Ho, the 29-year-old son of late casino magnate Stanley Ho, is carving his own path in the digital entertainment world.
Last Friday, Ho’s company, NIP Group, debuted on the Nasdaq, raising $20 million in its IPO.
The young entrepreneur holds a 13.6% stake and controls 36.6% of voting rights in the company, which specializes in esports and influencer live streaming.
Streaming dreams and digital schemes
NIP Group, co-led by Ho and former hedge fund manager Hicham Chahine, reported a 27% revenue growth to $83.7 million in 2023.
Despite operating at a loss, the company has ambitious plans to explore esports real estate, digital collectibles, and training camps.
Interestingly, most of NIP Group’s revenue currently stems from managing 36,000 online entertainers, primarily through live streaming fees.
Ho’s venture into esports marks a departure from his family’s casino legacy. “I chose to do something different,” Ho told Bloomberg, emphasizing his desire to write his own story.
However, questions arise about NIP Group’s financials, including a loan to Ho and substantial payments for “reality show services.”
As the company navigates its public journey, all eyes are on how this gaming scion will shape the future of digital entertainment.
