Motorsport Games cuts 39% of staff, explores sale or merger, seeks funding for console expansion

Motorsport Games Inc.

Reduces workforce by ~24 employees/contractors (~39% of global staff); expects $0.2M restructuring charge in Q4 2024.
Board authorizes exploration of strategic alternatives including potential sale or merger to maximize shareholder value.
Management seeks funding to bring Le Mans Ultimate to PlayStation and Xbox; PC early access launched Feb 2024.
CEO cites need to 'reverse prior over-expansion' and operate more efficiently while investing in growth.

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