Core Gaming’s 43 Million MAUs – A Leap into the Top Tier of Mobile Gaming

May 29, 2025

DENVER, Colo., May 29, 2025 (247marketnews.com)- With an impressive 43 million Monthly Active Users (MAUs), Core Gaming, which plans on merging with Siyata Mobile (NASDAQ:SYTA) this quarter, is ascending into the elite ranks of the mobile gaming industry. This milestone not only underscores the Company’s rapid growth but also positions it as a “Top Tier” player in a market projected to surpass $300 billion this year.

Understanding the Significance of 43 Million MAUs

Achieving 43 million MAUs places Core Gaming in the “Top Tier” category, a status typically associated with industry giants such as Tencent, Microsoft (NASDAQ:MSFT), and Roblox (NYSE:RBLX). For context, Microsoft Gaming boasts 500 million monthly players across all platforms, and Roblox has a substantial user base as well. This comparison highlights the magnitude of Core Gaming’s achievement.

Comparative Growth Analysis

When compared to other gaming companies, Core Gaming’s growth trajectory is noteworthy. For instance, Electronic Arts (NASDAQ:EA) has a market capitalization of approximately $38.37 billion, and Roblox’s market capitalization stands at $84.64 billion. Core Gaming’s rapid ascent suggests a promising future, potentially rivaling these established entities.

Strategic Insights: Core Gaming Enters the Big Leagues

Core Gaming is no longer just a promising mid-tier free-to-play (F2P) studio, it’s becoming a category contender, as it enters a new era of scale, strategy, and serious monetization potential.

What’s Next: Expansion at Full Throttle

The real story isn’t just where Core Gaming is now—it’s where it’s headed. Access to public funding can significantly accelerate Core Gaming’s growth. With increased capital, the company can invest in user acquisition, enhance game development, and expand its global reach. Public funding also provides the flexibility to explore strategic partnerships and acquisitions, further solidifying its position in the competitive gaming landscape.

Core Gaming is executing a proven playbook used by mobile gaming titans like Supercell and Playrix—studios that turned hit games into billion-dollar franchises.

Monetization Potential: Reading the MAU Signals

Let’s look at the numbers. With 43 million MAUs:

  • If Core’s ARPMAU (average revenue per MAU) matches the global average of $0.77, that’s ~$33.1M/month in revenue—or ~$397M/year.
  • If Core achieves RPG-level monetization ($5.12 ARPMAU, per Adjust’s 2024 report), revenue could scale to $220.2M/month—or a staggering $2.64B/year.

Even modest improvements in monetization efficiency could have exponential impacts at this scale. And Core’s real-time engagement model, in-app purchases, and advertising mix suggest it’s well-positioned to capitalize.

This strategic alignment could dramatically elevate both user spend and retention—creating a sustainable growth engine.

Valuation Models: How Big Could Core Get?

Conservative Case – ValueScope 2026 Projection:

  • Revenue: $240.8M
  • EV/Revenue multiple: 3x–4x
  • Implied valuation: $722.4M – $963.2M

Optimized Scenario – Peer Comparables & Engagement Adjustments:

  • Revenue: $150M–$200M in 2026
  • Profit margins: Projected 15–20%
  • Valuation: $1.8B–$2.4B, using 8–12x multiples from mobile gaming peers like Playtika and pre-acquisition Zynga

Top-Tier Potential – MAU-Based Models:

Using Adjust’s ARPMAU benchmarks:

  • If Core Gaming hits 50M MAUs and even a $1.25 ARPMAU, revenue could exceed $750M/year.
  • At 4x EV/Rev, that implies a $3B+ valuation.

Please click on the ValueScope Report for further valuation insights.

MAU Tiers

1M MAUs – Proof of Concept

  • What it means: The game has achieved traction and early product-market fit.
  • Investor perception: Often sufficient to attract seed or early venture capital.
  • Focus: Retention metrics, early monetization (ads or in-app purchases), and user feedback loops.

5M–10M MAUs – Scaling Stage

  • What it means: The title or platform has found a strong user base and is moving beyond early adopters.
  • Investor perception: Signals solid growth potential and readiness for Series A or strategic partnerships.
  • Focus: Optimizing monetization (e.g., ARPU, ARPDAU), scaling infrastructure, and expanding regionally.

20M–30M MAUs – Commercial Viability

  • What it means: The platform is a major player in its genre or niche.
  • Investor perception: Considered a growth-stage company with IPO or M&A potential.
  • Focus: Diversifying revenue streams, brand-building, user acquisition cost management.

40M–50M MAUs – Top Tier Status

  • What it means: Comparable to publicly traded mobile gaming leaders.
  • Investor perception: Justifies high valuation multiples (e.g., 5–10x revenue).
  • Focus: Global expansion, cross-platform integration, and strategic partnerships with ad networks or telecoms.

100M+ MAUs – Market Dominance

  • What it means: You’re in elite territory alongside companies like King (Candy Crush), Tencent, and Roblox.
  • Investor perception: Often IPO-ready or a prime acquisition target by gaming giants or tech conglomerates.
  • Focus: Ecosystem building, live ops optimization, IP expansion, and data monetization via AI.

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