Le Mans Ultimate is in the middle of completing its 2024 WEC season content. The game could come to consoles sooner than later, too, as Motorsport Games decided to "accelerate efforts".
Since its Early Access release in February 2024, Le Mans Ultimate has progressed steadily, with a long list of things still to do as of August 2024. The official WEC game has started releasing 2024 season content ahead of the 24 Hours of Le Mans in June, with three more DLC packs set to follow.
Console versions of LMU have not been a priority thus far, but it looks like this is going to change. In its Q2 Financial Report, developer/publisher Motorsport Games implies that the prospect of Le Mans Ultimate on Xbox and PlayStation should gain more traction. MSG CEO Stephen Hood is quoted stating that "given the strong reception to our ongoing development of the Le Mans Ultimate game, we have decided to accelerate efforts to bring this title to games consoles and reach a larger audience."
It is likely that LMU's excursions to the European WEC rounds could have sparked this thought, as the game was playable at the events - an opportunity that many endurance racing fans took. As consoles are more accessible, the question about LMU coming to Xbox and PlayStation was most likely very present at the Le Mans Ultimate tent.
Most recently, the first DLC pack containing the Peugeot 9X8 Evo, Lamborghini SC63 and Autodromo Enzo e Dino Ferrari Imola was launched for the game.
As the Finanical Report states, MSG "expects to continue to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio and invest in developing new video game titles."
While the company did post an increase of "cash and cash equivalents of approximately $0.5 million, which increased to $1.3 million as of July 31, 2024", it also notes that this increase was "primarily due to $0.9 million in net proceeds received from a registered direct offering transaction that closed on July 29, 2024." Put a bit simpler, MSG sold a significant chunk of shares to "use the net proceeds from this offering for working capital and general corporate purposes", according to the corresponding press release.
Image: Motorsport Games / 704Games
Furthermore, the latest SEC Filing of Motorsport Games points out that most of the company's revenue in Q2 was not generated by the sales of Le Mans Ultimate, but rather their NASCAR games - namely 55.5%. Considering that after the sale of the NASCAR license to iRacing MSG can only sell these games until the end of 2024, a major revenue stream is set to disappear for the company.
To combat this, Motorsport Games is "actively exploring several options, including, but not limited to: i) additional funding in the form of potential equity and/or debt financing arrangements or similar transactions; ii) other strategic alternatives for its business, including, but not limited to, the sale or licensing of the Company’s assets in addition to its recent sales of its NASCAR license and Traxion; and iii) further cost reduction and restructuring initiatives."
Would you like to see Le Mans Ultimate come to consoles? What are your thoughts on the update on Motorsport Games? Let us know on Twitter @OverTake_gg or in the comments below!
Since its Early Access release in February 2024, Le Mans Ultimate has progressed steadily, with a long list of things still to do as of August 2024. The official WEC game has started releasing 2024 season content ahead of the 24 Hours of Le Mans in June, with three more DLC packs set to follow.
Console versions of LMU have not been a priority thus far, but it looks like this is going to change. In its Q2 Financial Report, developer/publisher Motorsport Games implies that the prospect of Le Mans Ultimate on Xbox and PlayStation should gain more traction. MSG CEO Stephen Hood is quoted stating that "given the strong reception to our ongoing development of the Le Mans Ultimate game, we have decided to accelerate efforts to bring this title to games consoles and reach a larger audience."
It is likely that LMU's excursions to the European WEC rounds could have sparked this thought, as the game was playable at the events - an opportunity that many endurance racing fans took. As consoles are more accessible, the question about LMU coming to Xbox and PlayStation was most likely very present at the Le Mans Ultimate tent.
Most recently, the first DLC pack containing the Peugeot 9X8 Evo, Lamborghini SC63 and Autodromo Enzo e Dino Ferrari Imola was launched for the game.
Major Revenue Stream Set To Disappear
Additionally, it could be a way to open up another revenue stream for the company - and one that is very much needed.As the Finanical Report states, MSG "expects to continue to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio and invest in developing new video game titles."
While the company did post an increase of "cash and cash equivalents of approximately $0.5 million, which increased to $1.3 million as of July 31, 2024", it also notes that this increase was "primarily due to $0.9 million in net proceeds received from a registered direct offering transaction that closed on July 29, 2024." Put a bit simpler, MSG sold a significant chunk of shares to "use the net proceeds from this offering for working capital and general corporate purposes", according to the corresponding press release.
Image: Motorsport Games / 704Games
Furthermore, the latest SEC Filing of Motorsport Games points out that most of the company's revenue in Q2 was not generated by the sales of Le Mans Ultimate, but rather their NASCAR games - namely 55.5%. Considering that after the sale of the NASCAR license to iRacing MSG can only sell these games until the end of 2024, a major revenue stream is set to disappear for the company.
MSG Q2 2024 SEC Filing explaining the NASCAR license situation (found under "Item 2").
To combat this, Motorsport Games is "actively exploring several options, including, but not limited to: i) additional funding in the form of potential equity and/or debt financing arrangements or similar transactions; ii) other strategic alternatives for its business, including, but not limited to, the sale or licensing of the Company’s assets in addition to its recent sales of its NASCAR license and Traxion; and iii) further cost reduction and restructuring initiatives."
Would you like to see Le Mans Ultimate come to consoles? What are your thoughts on the update on Motorsport Games? Let us know on Twitter @OverTake_gg or in the comments below!
