DENVER, Colo., May 15, 2025 (247marketnews.com)- Siyata Mobile’s (NASDAQ:SYTA) $160 million merger target, Core Gaming, is an AI-driven mobile gaming powerhouse with a proven model.
Most mobile gaming industry leaders are able to turbocharge their downloads and sales when they release blockbuster games, and it only takes one blockbuster to change everything.
Core Gaming’s business model is also slightly different. The AI-driven mobile gaming developer, has developed or co-developed over 2,100 games, with 790 million downloads and 43 million monthly active users (MAUs). However, Core Gaming focuses more on its portfolio size and AI technology (e.g., AI COMIC App) rather than highlighting individual flagship games. Until it develops and releases one of these hits, Core Gaming emphasizes aggregate metrics over specific game popularity.
By knowing exactly what games its users are playing Core Gaming’s AI often knows what games its users will play next.
The model works and ValueScope, which is recognized as the gold standard in financial valuation, expects Core Gaming to continue to experience its exponential year-over-year revenue growth trajectory. Core Gaming’s reported revenue grew from $13.2 million 2021, $38.9 million in 2022, $57.0 million in 2023, an estimated $90.8 million for 2024, and is expected to exceed $100 million this year and $240.8 million in 2026.
Management continues to upgrade the model with moves like the recently announced AI COMIC App, which instantly rocketed to nearly 300,000 users in its first few days, elevating Core Gaming’s vision and model.
As the merger nears its expected Q2 2025 closing, Core Gaming’s Crunchbase Growth Score shot up 39 points to 93, in past quarter, and its Heat Score climbed to 87, as it also increased by 39 points, in past quarter
As a publicly traded entity post-merger, combined with Siyata Mobile, Core Gaming can move forward as a Nasdaq listing. The merger’s structure, detailed in Siyata’s March 31, 2025, SEC Form 20-F, ensures Core Gaming shareholders own ~90% of the combined entity, with Siyata’s legacy shareholders guaranteed 10% via a special stock dividend within six months post-merger.
Core Gaming’s relationships with AppLovin (NASDAQ:APP), which it collaborates with and competes against, and other leading sites, like Google (NASDAQ:GOOG), TicTok, Facebook (NASDAQ:META) alongside collaborations with studios like Fire Rhino, enhance its monetization and distribution capabilities.
Core Gaming CEO Aitan Zacharin will lead the combined entity, with Siyata’s Marc Seelenfreund heading a new PoC subsidiary. A balanced board with four Core Gaming directors and Siyata’s CEO, Marc Seelenfreund, helps strategic alignment.
Other High-Growth Stocks Following a Similar Trajectory
Core Gaming isn’t the only high-growth tech-driven company pushing the boundaries of what’s possible in AI and user engagement.
SoundHound AI (NASDAQ:SOUN), which specializes in voice AI technology, has seen explosive demand as companies increasingly integrate voice recognition and conversational AI into consumer and enterprise products. With partnerships across automotive, restaurant, and IoT sectors, and revenue growth of over 80% year-over-year, SoundHound is a compelling example of how applied AI is disrupting established industries, especially gaming, as AppLovin has proven.
Core Gaming Merger: Sexy Merger Math and a Shareholder Jackpot
Siyata’s $160 million merger with Core Gaming, announced February 26, 2025, and slated to close this quarter, is a seismic value driver, thrusting SYTA into the $126 billion mobile gaming market. Core Gaming’s meteoric rise—from $13.2 million in 2021 revenue to a projected $240.8 million by 2026—earns a $185.9 million valuation from ValueScope, with a 3x-4x EV/Sales multiple implying a $722.4-$963.2 million combined entity by 2026. The merger’s special stock dividend, guaranteeing legacy shareholders at least 10% ownership within six months post-closing, is pure genius, offering jaw-dropping returns across four VWAP price (10 trading days before the record date) scenarios (assuming 5 million fully diluted shares):
$4 VWAP (Most Likely, nearly 300% from recent levels): $160M ÷ $4 = 40M shares to Core Gaming. Siyata’s ~5M shares yield ~10% of ~45M combined shares, with minimal dilution. At $850M valuation (~midpoint) ÷ 50M shares (post-financing), the stock hits ~$17, a ~15x return.
$8 VWAP (Plausible, over 600%): $160M ÷ $8 = 20M shares to Core Gaming. Siyata’s ~5M shares stay ~5M, owning ~20% of ~25M shares. At $850M ÷ 30M shares, the stock reaches ~$28, a 25+x return. February’s $7-9 spike on the merger news.
$1 VWAP (Less Likely): $160M ÷ $1 = 160M shares to Core Gaming. Siyata’s ~5M shares become ~17.8M (2.56 share dividend). At $850M ÷ 190M shares, the stock trades at ~$4.47, yielding ~$15.91/share (~14x return).
$0.50 VWAP (Least Likely): $160M ÷ $0.50 = 320M shares to Core Gaming. Siyata’s ~5M shares become ~35.6M (6.1 share dividend). At $850M ÷ 375M shares, the stock hits ~$2.27, yielding ~$16.16/share (~15x return).
As you can see, this dividend, detailed in the March 31, 2025, SEC Form 20-F, protects legacy shareholders, ensuring massive upside even at lower VWAPs prior to the record date. Even though this windfall is a secret to the vast majority of the street, you can see why the script should soon flip, making it a must for any portfolio.
Please click here for the ValueScope Report.
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