30 Nov '17, 1am

Alibaba betting on long-term gain from eSports investment

BARCELONA: The booming eSports industry may not yet attract the sponsors and television rights of real life sports, but Chinese e-commerce conglomerate Alibaba believes it is only a matter of time before its bet on competitive video gaming comes up big. Alibaba's sports arm Alisports was opened in 2015 with the aim of cashing in on the rapidly growing world of electronic sports, where players square off in lucrative video game tournaments that draw millions of viewers online. "We are prepared to lose money. We can accept the losses now as we hope to promote this sport," Alisports CEO Zhang Dazhong told AFP in an interview at the European final of the second edition of Alisports' World Electronic Sports Games (WESG) in Barcelona, which wrapped up on Sunday (Nov 26). "For a sport that has a lot of participation, it must have a bright future. Even if for now you don't make a ...

Full article: http://www.channelnewsasia.com/news/business/alibaba-bett...

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