{"id":90838,"date":"2024-04-05T00:00:00","date_gmt":"2024-04-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/"},"modified":"2024-04-05T00:00:00","modified_gmt":"2024-04-05T00:00:00","slug":"phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/","title":{"rendered":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios"},"content":{"rendered":"

ADX-listed crypto firm <\/strong>Phoenix Group<\/a><\/strong>\u2019s board approved yesterday the acquisition <\/strong>of a 12.5% minority stake in Dubai-based web3 gaming firm <\/strong>Rekt Studios<\/a><\/strong> in a USD 2.5 mn transaction, according to an ADX disclosure (pdf)<\/a>. The acquisition will be executed through Phoenix\u2019s wholly-owned subsidiary, Phoenix INV Holdings.<\/p>\n

Expanding its footprint:<\/strong> Phoenix shelled out USD 187 mn for BTC mining machines from Bitmain Development earlier in January<\/a>, aiming to boost its hashing power substantially. The crypto conglomerate additionally snagged a 25% stake in UAE-based content monetization platform Lyvely<\/a> in December 2023<\/a>, after debuting on the ADX at the start of the month to a strong investor appetite, which saw shares soaring 35%<\/a> on the first day of trading. <\/p>\n

About Phoenix: <\/strong>The company owns 23 businesses and nine crypto mining facilities in the US, Canada, CIS, and the UAE, with a USD 2 bn crypto mining farm in the UAE, one of the largest<\/a> in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"

ADX-listed crypto firm Phoenix Group\u2019s board approved yesterday the acquisition of a 12.5% minority stake in Dubai-based web3 gaming firm Rekt Studios in a USD 2.5 mn transaction, according to an ADX disclosure (pdf). The acquisition will be executed through Phoenix\u2019s wholly-owned subsidiary, Phoenix INV Holdings. Expanding its footprint: Phoenix shelled out USD 187 mn […]<\/p>\n","protected":false},"author":1,"featured_media":90839,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[7,238,25,1344,60,229,573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-gaming","tag-investment-watch","tag-ma","tag-ma-watch","tag-phoenix-group","tag-web3","wpautop","entry"],"acf":{"mongo_id":"f7d0e57c-6384-4975-8801-30291cf93252","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2255.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios","related_issue":[90823],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.6f34feee-b981-45a3-8c7c-8871378a84ac.mp3"},"yoast_head":"\nPhoenix Group gets green light to acquire 12.5% of Rekt Studios - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Group gets green light to acquire 12.5% of Rekt Studios\" \/>\n<meta property=\"og:description\" content=\"ADX-listed crypto firm Phoenix Group\u2019s board approved yesterday the acquisition of a 12.5% minority stake in Dubai-based web3 gaming firm Rekt Studios in a USD 2.5 mn transaction, according to an ADX disclosure (pdf). The acquisition will be executed through Phoenix\u2019s wholly-owned subsidiary, Phoenix INV Holdings. Expanding its footprint: Phoenix shelled out USD 187 mn […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-05T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Phoenix Group gets green light to acquire 12.5% of Rekt Studios\",\"datePublished\":\"2024-04-05T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\"},\"wordCount\":159,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"Gaming\",\"INVESTMENT WATCH\",\"M&A\",\"M&A WATCH\",\"Phoenix Group\",\"Web3\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\",\"name\":\"Phoenix Group gets green light to acquire 12.5% of Rekt Studios - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-04-05T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix Group gets green light to acquire 12.5% of Rekt Studios\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios","og_description":"ADX-listed crypto firm Phoenix Group\u2019s board approved yesterday the acquisition of a 12.5% minority stake in Dubai-based web3 gaming firm Rekt Studios in a USD 2.5 mn transaction, according to an ADX disclosure (pdf). The acquisition will be executed through Phoenix\u2019s wholly-owned subsidiary, Phoenix INV Holdings. Expanding its footprint: Phoenix shelled out USD 187 mn […]","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/","og_site_name":"UAE","article_published_time":"2024-04-05T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios","datePublished":"2024-04-05T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/"},"wordCount":159,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM UAE","Gaming","INVESTMENT WATCH","M&A","M&A WATCH","Phoenix Group","Web3"],"articleSection":["M&A WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/","name":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1","datePublished":"2024-04-05T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/phoenix-group-gets-green-light-to-acquire-12-5-of-rekt-studios\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Phoenix Group gets green light to acquire 12.5% of Rekt Studios"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2255.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/90838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=90838"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/90838\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/90823"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/90839"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=90838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=90838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=90838"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=90838"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=90838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}