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Heather Hazen Takes the Helm as Firaxis Games' New Studio Head
2K Games has appointed Heather Hazen as the new studio head of Firaxis Games, the renowned developer behind the iconic Sid Meier's Civilization series. Hazen, who previously served as the studio's chief operating officer, brings 22 years of experience in the gaming and entertainment industry to her new role. Her professional background includes a stint at Epic Games, where she worked as an execut…
Feb. 17, 2023, 3:16 p.m.
News
Saudi Arabia Boosts Its Holdings in Nintendo
February 17, 2023 Update: The Public Investment Fund of Saudi Arabia has once again increased its stake in Nintendo, marking the second enhancement this week. According to reports from AP, the PIF now possesses 8.26% of the Japanese gaming giant, solidifying its position as the largest external investor. Originally reported on February 15, 2023: New information has surfaced indicating that Saudi …
Feb. 17, 2023, 12:33 p.m.
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Embracer Reports 128% Sales Increase in Q3, Despite Organic Growth Decline
Embracer Group has released its Q3 FY 22/23 financial report, covering the period ended December 31, 2022. The company saw net sales reach SEK 11.6 billion ($1.1 billion), representing a 128% year-over-year increase, although organic growth decreased by 3%. PC and console sales contributed SEK 3.57 billion ($339 million), up 64% year-over-year, while mobile sales added SEK 1.57 billion ($149 mill…
Feb. 17, 2023, 11:37 a.m.
News
Former Respawn Entertainment Developers Launch Wildlight Entertainment
A team of veteran game developers, formerly of Respawn Entertainment, has established a new remote game development studio called Wildlight Entertainment. The studio's co-founders include CEO Dusty Welch, previously COO and GM of Apex Legends, and design director Jason McCord, who also worked on Apex Legends. They are joined by Chad Grenier, former game director at Respawn, who serves as the stud…
Feb. 17, 2023, 10 a.m.
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Robot Teddy Unveils New Executive Team
Robot Teddy, the self-publishing support division of Thunderful Games, has expanded its executive leadership team with several key additions. Amanda Farough, Mike Futter, Alessandro Bovenzi, Hans van Brakel, and Naaila Mohammed have all joined the company. Farough and Futter, seasoned games industry professionals, have taken on the roles of co-directors of strategic partnerships. Previously, they…
Feb. 17, 2023, 9:19 a.m.
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Savvy Games Group Pours $265 Million into Chinese Esports Company VSPO
Chinese esports organization VSPO has secured a substantial investment of $265 million from Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund. The acquisition is slated for completion at a future date, pending regulatory approvals and fulfillment of closing conditions. This significant investment will enable VSPO to broaden its global operations, with a particular emphasis …
Feb. 16, 2023, 9:30 p.m.
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Ubisoft Prioritizes Predictability Following Target Downgrade
Ubisoft has released its financial report for the quarter ending December 31, showcasing a moderate increase in sales but a decline in bookings. Key figures include: - Sales: €1.5 billion, up 6.1% year-over-year - Net bookings: €1.43 billion, down 2.6% year-over-year - Back-catalog net bookings: €249 million, down 27% year-over-year The company had previously warned investors of disappointing re…
Feb. 16, 2023, 6:38 p.m.
News
Industry Experts Introduce the Gamedev Fund
A team of seasoned games industry professionals has established the Gamedev Fund, a platform designed to provide backing to European game creators focusing on PC and console game development. Founded by Aras Pranckevičius, Mantas Puida, and Renaldas Zioma, with additional founding members including Valdemar Bučilko, Vilmantas Balasevičius, and Vytautas Dobilas, the fund aims to bridge the financi…
Feb. 16, 2023, 6:03 p.m.
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Gaming Industry Sees $51.5 Billion in Deals for 2022
The year 2022 marked the second-highest level of investment, merger, and acquisition activity in the gaming industry, as reported by Digital Development Management. The total value of gaming deals for the year reached $51.5 billion, with major transactions including Take-Two's acquisition of Zynga, Unity's purchase of IronSource, and Sony's acquisition of Bungie. This figure represents a 31% decl…
Feb. 16, 2023, 4:30 p.m.
News
Telltale Secures $8 Million in Funding from Hiro Capital and Skybound
Telltale has successfully raised $8 million in a Series A funding round, led by Hiro Capital and accompanied by an investment from Skybound Entertainment. The primary focus of the funds will be to drive the release of The Expanse: A Telltale Series, slated for this summer, as well as to propel the development of The Wolf Among Us 2 and an unannounced title. Telltale's CEO, Jamie Ottilie, expresse…
Feb. 16, 2023, 1:15 p.m.