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International Buyers Dominate UK Gaming M&A Scene with 118 Deals Since 1993
According to a recent report by the British Film Institute (BFI), a total of 118 mergers and acquisitions (M&A) transactions involving UK gaming companies were made by foreign buyers between 1993 and 2022. The majority of these deals, 49%, were made by US-based companies, followed by China at 15%, and Sweden at 10%. The primary motivation behind these acquisitions was to bring game development anā€¦
Nov. 8, 2023, 8:51 p.m.
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Veterans of The Escapist Launch Second Wind
A group of former The Escapist staff members have launched Second Wind, a new employee-owned and independent subscription-based media outlet. The platform aims to deliver engaging, informative, and entertaining content, building on the legacy of The Escapist. Second Wind promises to provide subscribers with a diverse range of content, including video productions, podcast series, and live streaminā€¦
Nov. 8, 2023, 6:49 p.m.
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Possible Closure of Free Radical Design Looms
Embracer's current restructuring efforts may impact Free Radical Design, the studio behind the TimeSplitters series. According to sources close to the matter, as reported by VGC, the developer's staff has been informed that the company could potentially cease operations following an evaluation. However, under UK law, a minimum of one month's consultation with employees is required before any reduā€¦
Nov. 8, 2023, 5:12 p.m.
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Sega Boosts Forecasts Following a Strong First Half
Sega Sammy has announced a robust first half of its financial year, primarily driven by its pachinko and pachislot operations. For the six months ending September 30, 2023, net sales increased by 47.3% year-over-year to Ā„221.2 billion ($1.5 billion), while operating income soared by 313.4% to Ā„39.6 billion ($262.5 million). Despite experiencing weaker-than-expected sales from some new game releasā€¦
Nov. 8, 2023, 3:56 p.m.
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Roblox Sees Significant Revenue Increase in Q3, Up 38% Year-over-Year
Roblox has released its quarterly financial report for the period ending September 30, 2023, revealing a notable surge in revenue. Key highlights from the report include: - Revenue of $713 million, marking a 38% increase from the previous year - Bookings of $839.5 million, representing a 20% year-over-year growth - Net losses of $279 million, a decrease from $302 million in the same quarter lastā€¦
Nov. 8, 2023, 3:52 p.m.
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Xbox Takes Stronger Stance Against Toxicity with 19.5 Million Enforcement Actions in H1 2023
Microsoft's latest Xbox Transparency Report reveals significant strides in protecting players from toxic behavior and harassment. For the first half of 2023, Xbox enforcement actions surged to 19.6 million, nearly doubling the 10.2 million actions taken in the first half of 2022. Of these, 17.1 million were proactive measures, including 84,000 actions against harassment and bullying, while 2.5 miā€¦
Nov. 8, 2023, 3:05 p.m.
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GTA 6 Trailer Debut Expected in Early December
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Nov. 8, 2023, 2:20 p.m.
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Gaming Giants Face Lawsuit Over Alleged Video Game Addiction
A lawsuit has been filed against several major gaming companies, including Microsoft, EA, Activision, Ubisoft, and Epic Games, accusing them of facilitating video game addiction. The complaint, filed in the Eastern District of Arkansas, claims that these companies have engaged in a concerted effort to get consumers hooked on their games, resulting in a rapid spread of video game addiction. The plā€¦
Nov. 8, 2023, 1:33 p.m.
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Nintendo Upgrades Profit Outlook to $2.8 Billion Following Strong Sales of Zelda and Mario Titles
Nintendo has revised its profit forecast upwards to $2.8 billion for the current fiscal year, driven by a robust first half performance that saw significant sales of The Legend of Zelda: Tears of the Kingdom and The Super Mario Bros Movie. For the six-month period ending September 30, 2023, the company reported a 21.2% year-over-year increase in net sales to $5.3 billion and a 27% rise in operatiā€¦
Nov. 8, 2023, 1:23 p.m.
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Experts Weigh In on Epic vs Google Antitrust Trial, a Case with Uncertain Outcome
The outcome of the Epic vs Google antitrust trial, which began in a San Francisco federal court, is deemed unpredictable by legal experts, as both companies present their arguments. Epic's CEO Tim Sweeney and Alphabet's CEO Sundar Pichai are expected to testify in the coming weeks. According to Richard Hoeg, managing partner of The Hoeg Law Firm, Epic's case against Google may be stronger due to ā€¦
Nov. 8, 2023, 10:28 a.m.