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Riot Games' Lawsuit Against Moonton Technology Thrown Out by Court
A California court has rejected Riot Games' latest lawsuit against Moonton Technology, a Shanghai-based game developer, citing China as a more suitable venue for the dispute. The lawsuit, filed in May, accused Moonton of copying League of Legends in its game Mobile Legends: Bang Bang. In a ruling on Tuesday, Judge Michael Fitzgerald of the US District Court for the Central District of California …
Nov. 10, 2022, 1 p.m.
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Disco Elysium Developer ZA/UM Confirms Misconduct Led to Employee Terminations
The Estonian game development studio ZA/UM, known for the critically acclaimed title Disco Elysium, has officially confirmed reports of misconduct among its former senior employees. This confirmation comes after an Estonian press report highlighted instances of mismanagement and inappropriate behavior within the company. In a statement provided to GamesIndustry.biz, ZA/UM detailed the reasons beh…
Nov. 10, 2022, 11:44 a.m.
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Ex-Disco Elysium Developers Allege ZA/UM Shareholders Engaged in Fraudulent Activities
Former ZA/UM employees Robert Kurvitz and Aleksander Rostov have come forward with allegations that the majority stake in the studio was acquired through illicit means. In a recent post on Medium, the duo revealed that their stake in the Disco Elysium property stems from their minority shareholdings in Zaum Studio OÜ, an Estonian firm. The majority of shares were previously held by investor Margu…
Nov. 10, 2022, 11:35 a.m.
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Bandai Namco Exceeds Sales Projections for First Half of Fiscal Year
Bandai Namco has unveiled its financial report for the first half of the fiscal year ending March 31, 2023, showcasing robust growth across all sectors. The key highlights include: Net sales of ¥477 billion ($3.2 billion), marking a 21.3% year-on-year increase, and a profit of ¥66.5 billion ($453 million), representing a 68.4% year-on-year surge. Digital entertainment sales reached ¥193 billion (…
Nov. 10, 2022, 11:31 a.m.
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Unity Reports Q3 Revenue Growth Amid Deepening Losses
Unity has announced its Q3 financial results, showcasing a year-over-year revenue increase driven by its game engine business, offset by declines in other areas and a significant operating loss. Although the company has yet to achieve a profitable quarter since its founding in 2004, the latest loss is nearly double that of the same period last year. Key highlights include: Revenue of $322.9 milli…
Nov. 10, 2022, 11:06 a.m.
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Nexon's Revenue Sees 28% Year-Over-Year Increase
Nexon has released its third-quarter results, revealing a significant surge in revenue despite some of its major franchises, such as Dungeon&Fighter and Maplestory, failing to meet expectations in Korea. The key figures include: - Net revenue: ¥97.5 billion ($666 million), representing a 28% year-over-year increase - Net income: ¥43.3 billion ($296 million), marking a 14% year-over-year in…
Nov. 9, 2022, 10 p.m.
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Roblox Sees 2% Revenue Increase as Quarterly Losses Reach $300 Million
Roblox has released its quarterly earnings report for the period ending September 30, showcasing continued growth despite significant increases in losses. Key financial highlights include a 2% year-on-year increase in net revenue to $518 million and a 10% rise in bookings to $702 million. However, the company's net loss widened to $302 million from $74 million in the same quarter last year. This …
Nov. 9, 2022, 8:28 p.m.
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Meta to Lay Off 11,000 Employees
In a major restructuring effort, Meta has announced that it will be reducing its workforce by 13%, equivalent to approximately 11,000 employees, as reported by Variety. The announcement was made via an early morning email, with individual staff members learning their fate throughout the day. According to Mark Zuckerberg, Meta's CEO, the company's recent investments were based on the assumption th…
Nov. 9, 2022, 2:56 p.m.
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Death Stranding Reaches 10 Million Player Milestone
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Nov. 9, 2022, 2:47 p.m.
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Riot Games Takes Over Publishing for League of Legends and Teamfight Tactics in Southeast Asia
- Riot Games will assume self-publishing responsibilities for League of Legends and Teamfight Tactics in Southeast Asia starting next year. - This move concludes a 12-year partnership with Singapore-based developer Garena, which had previously handled publishing duties for the two games in the region. - As part of its expanded regional strategy, Riot is also increasing its presence in Southeast…
Nov. 9, 2022, 11:08 a.m.