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Embracer Group Sees 47% Increase in Net Sales for Q1
Embracer Group has released its Q1 financial results, showcasing notable growth in net sales across most operating segments. Key highlights for the period ending June 30, 2023, include: - Net sales of SEK 10.5 billion ($947 million), representing a 47% year-on-year increase - PC and console games segment: SEK 4 billion ($364 million), up 74% year-on-year - Mobile segment: SEK 1.4 billio…
Aug. 18, 2023, 4:12 p.m.
News
DDM Reports Weakest First-Half Gaming Investments Since 2016
According to Digital Development Management's latest report, the second quarter saw a decline in gaming industry investments, mergers, and acquisitions. The first half of the year has been the weakest since 2016, with investments dropping 34% to $676 million and the number of deals decreasing by 14% to 127. Notably, blockchain gaming investments were severely impacted, plummeting 38% to $243 mill…
Aug. 18, 2023, 3 p.m.
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Embracer Moves Forward After Collapse of $2 Billion Deal
Embracer Group is looking to put the failed $2 billion partnership behind them, with CEO Lars Wingefors stating that the deal is now in the past and the company has taken matters into its own hands. During the company's latest earnings call, Wingefors was questioned by investors about the potential collaboration with an unnamed partner that was initially announced in May. At the time, Wingefors e…
Aug. 18, 2023, 2:33 p.m.
News
Sega Completes Acquisition of Rovio Entertainment
Sega has officially finalized the acquisition of Rovio Entertainment, the renowned creator of the Angry Birds franchise. The announcement was made by Sega through its social media channels, expressing enthusiasm for the new partnership. "We are delighted to welcome Rovio to the SEGA Group family and look forward to the exciting opportunities that lie ahead," stated Sega. The acquisition, value…
Aug. 18, 2023, 1:59 p.m.
News
Roblox Faces Allegations of Enabling Underground Gambling Network for Minors
A lawsuit has been filed against Roblox, alleging that the company has created an environment conducive to illegal gambling activities, thus violating federal laws. The lawsuit, filed in the Northern District of California, claims that children have incurred financial losses by utilizing the platform's digital currency, Robux, on external gambling websites. The plaintiffs accuse Roblox of unfair …
Aug. 18, 2023, 1:48 p.m.
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Exploring the Future of AI in Gaming with Mitu Khandaker
The Playable Futures Podcast concludes its series with a thought-provoking discussion between Will Freeman and Mitu Khandaker, CEO and Co-Founder of Glow Up Games, about the role of AI in shaping the future of gaming. As a former Creative Partnerships Director at Spirit AI, Khandaker brings valuable insights into the potential of AI to enhance game development. The conversation delves into the po…
Aug. 18, 2023, 1:08 p.m.
News
Take-Two Forces Shutdown of AI-Powered GTA 5 Mod
Take-Two has successfully shut down a Grand Theft Auto 5 mod that utilized generative AI, according to the mod's creator. The removal was initiated after the publisher filed a DMCA takedown notice, resulting in the Sentient Streets mod being taken down from the Nexus Mods platform and a gameplay video being removed from YouTube. The mod's developer, known as Bloc, stated that they were not contac…
Aug. 18, 2023, 10:26 a.m.
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Steer Studios Emerges as the New Identity of Savvy Games Studios
Savvy Games Studios, a subsidiary of Savvy Games Group, has undergone a rebranding and is now known as Steer Studios. The name change is intended to reflect the company's strategic aim of strengthening its position in the global market. According to Savvy Games Group CEO Brian Ward, "The transformation of Savvy Games Studios into Steer Studios marks a significant milestone, paving the way for the…
Aug. 17, 2023, 8:32 p.m.
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Alan Wake 2 Release Date Pushed to October 27 by Remedy
Remedy Entertainment has revised the release date of Alan Wake 2 to October 27, aiming to reduce congestion in a month packed with major game launches. Initially, the game was slated for release on October 17. According to Remedy, "The shift in release date is intended to give gamers more room to appreciate their preferred titles, as October is shaping up to be an exceptional month for game relea…
Aug. 17, 2023, 3:21 p.m.
News
Will Xbox's New Enforcement System Achieve a Delicate Balance?
This Microcast delves into two major gaming stories. Firstly, we examine Microsoft's recently introduced enforcement system for Xbox, which imposes penalties for misconduct, including cheating, profanity, harassment, and hate speech. A total of eight infractions results in a year-long suspension, but is this approach too permissive? We also assess the system's potential effectiveness in tackling …
Aug. 17, 2023, 2:44 p.m.