Mgame Reports Strong First Half Performance Driven by Increased Overseas Sales

[Asia Economy Reporter Hyungsoo Park] Mgame's performance improvement trend continues.

Mgame announced on the 14th that it recorded consolidated sales of 11.8 billion KRW and operating profit of 2.3 billion KRW in the second quarter of this year. Compared to the same period last year, sales increased by 41.6% and operating profit rose by 113.6%. Net profit reached 2.5 billion KRW, up 172.5%. For the first half of the year, cumulative sales were 21.9 billion KRW, operating profit 4.8 billion KRW, and net profit 5.1 billion KRW.

An Mgame official explained, "The main reason for the increase in sales in the first half of this year is the continuous growth of overseas sales, which account for about 64% of total sales."

In the first quarter, China’s Yeolhyeol Gangho Online performed well, and in the second quarter, Night Online in North America and Turkey showed strong results. The first half sales alone achieved about 64% and 72% of last year’s cumulative game sales, respectively.

Domestic PC online game sales such as Yeolhyeol Gangho Online, Night Online, Gwihon, and Hero Online also steadily increased. Both domestic and overseas sales are rising.

Mgame plans to release Jin Yeolhyeol Gangho, a mobile massively multiplayer online role-playing game (MMORPG) that succeeds Yeolhyeol Gangho Online, in the Southeast Asian region in the second half of this year. The release will initially focus on countries where the original Yeolhyeol Gangho Online was successful. After verifying the game in overseas markets and refining its quality, it will be sequentially launched in the Chinese market once domestic or foreign licensing resumes.

The sports betting simulation game Winplay will also be released in the second half of the year. It is being carefully prepared as a challenge in a new genre. Mgame is currently pursuing partnerships or in-house development to create mobile games utilizing its popular intellectual properties (IPs) such as Night Online, Droyan, and Gwihon.

Kwon Ihyung, CEO of Mgame, said, “Following last year, sales of our main online games continue to grow both domestically and internationally. In the second half, new sales will be added with the release of the mobile game Jin Yeolhyeol Gangho and the sports betting simulation game Winplay.”