China's NIP Group, co-founded by Mario Ho Yau-kwan, the youngest son of the late casino tycoon Stanley Ho Hung-sun, is seeking to expand its international reach by pursuing an IPO on the Nasdaq Stock Exchange [e4db373e]. NIP Group aims to become the first listed Chinese esports company and plans to issue no more than 26.9 million common shares on the Nasdaq [e4db373e]. The net proceeds from the IPO will be used for working capital, expanding the presence of its esports teams, marketing, growing their fan base, and potential strategic acquisition and investment opportunities [e4db373e]. The global esports industry is expected to reach US$102.4 billion in 2027, up from US$57.9 billion in 2022 [e4db373e]. NIP Group operates two esports brands: Ninjas in Pyjamas in Sweden and eStar Gaming in China [e4db373e]. Its esports teams compete in video game titles such as Counter-Strike: Global Offensive, Honour of Kings, and Call of Duty: Mobile [e4db373e]. In 2023, NIP recorded a net revenue of US$83.7 million, with a net loss of US$13.3 million [e4db373e]. The company completed a merger with ESV5 in 2023 [e4db373e]. Hong Kong-born rapper and singer Jackson Wang is a partner and beneficial shareholder in NIP [e4db373e]. Some local governments in China, including Hangzhou, are ramping up support for esports, with Hangzhou pledging 100 million yuan in annual funding to support video gaming and esports [e4db373e].