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Embracer Sees 190% Sales Surge in Q2, Driven by 35% Organic Growth
Embracer Group has unveiled its Q2 financial results for the 2022/2023 fiscal year, marked by substantial sales growth across all segments. - PC and console games generated SEK 4.1 billion ($390 million), representing a 107% year-over-year increase - Mobile games revenue reached SEK 1.44 billion ($137 million), up 67% from the previous year Embracer's net sales soared 190% year-over-year during…
Nov. 18, 2022, 9:23 a.m.
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Gaming Deals Reach $37 Billion from Q1 to Q3, InvestGame Reports
According to a recent report by InvestGame, the total value of video game deals from the first quarter to the third quarter of 2022 reached $37 billion. This figure was compiled from 246 completed transactions, including private investments, mergers and acquisitions, and public offerings. The five largest gaming deals during this period were highlighted, including Take-Two's $12.7 billion acquisi…
Nov. 17, 2022, 8:03 p.m.
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Eschatology Entertainment Secures $4 Million in Seed Funding
Eschatology Entertainment has successfully raised $4 million in its initial funding round, led by key investors GEM Capital and The Games Fund. The studio was established earlier this year by a team of industry experts, including Fuad Kuliev, Viktor Antonov, Dmytro Kostiukevych, and Boris Nikolaev, who bring a wealth of experience from their time at prominent gaming companies like Wargaming. Nota…
Nov. 17, 2022, 6:02 p.m.
News
Former Square Enix Employees Arrested for Alleged Insider Trading
A pair of ex-Square Enix staff members have been taken into custody on suspicion of insider trading. According to reports from VGC, via Automaton, the individuals purchased shares in the Japanese gaming studio Aiming prior to its announcement of a new Dragon Quest project. It is alleged that the former employees leveraged their internal knowledge to acquire shares with the intention of selling …
Nov. 17, 2022, 4:24 p.m.
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Rollic Expands Portfolio with Acquisition of Popcore
Rollic, a subsidiary of Zynga, has revealed the acquisition of Popcore, a mobile game development studio. Established by Thomas and Johannes Heinze in 2018, Popcore has developed popular titles including Pull the Pin, Scavenger Hunt, and Tap Away. This acquisition marks a significant milestone for Rollic as it continues to bolster its hypercasual gaming portfolio. "By joining forces, we can cr…
Nov. 17, 2022, 3:18 p.m.
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Veterans of Fortnite and Call of Duty Secure $15 Million to Launch Methodical Games
A group of seasoned gaming professionals from Epic Games, Respawn, and Infinity Ward have come together to form Methodical Games, a new AAA game development studio. The company has successfully raised $15 million through a funding round led by Lightspeed Ventures, with additional support from notable investors such as Bitkraft Ventures, 1Up Ventures, Transcend Fund, and Jason West, the founder of…
Nov. 17, 2022, 1:35 p.m.
News
Court Dismisses AimJunkies' Countersuit Against Bungie
A US District Court judge has ruled in favor of Bungie, dismissing a countersuit filed by cheat provider AimJunkies. The decision was made after AimJunkies failed to provide sufficient evidence that Bungie had accessed the personal laptop of James May, a manager at AimJunkies, without authorization. According to the court ruling, May's allegations relied on a document purportedly produced by Bung…
Nov. 17, 2022, 11:35 a.m.
News
Blizzard and NetEase End 14-Year Partnership: What You Need to Know
In a significant development, Blizzard's long-standing partnership with NetEase has come to an end. The partnership, which lasted for 14 years, has been instrumental in bringing Blizzard's popular titles to the Chinese market. However, the two companies have failed to reach a renewal agreement, resulting in the suspension of Blizzard's biggest games in China from January 23. The affected titles i…
Nov. 17, 2022, 11:28 a.m.
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Release of Dead Island 2 Pushed Back to April 2023
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Nov. 17, 2022, 10:15 a.m.
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Bethesda Disputes Mick Gordon's Claims About Doom Eternal Soundtrack
Bethesda has disputed the claims made by Mick Gordon regarding his work on the Doom Eternal soundtrack, calling it a biased account. The composer had previously accused the game's executive producer, Marty Stratton, of dishonesty regarding the project. Gordon also alleged that he was offered a substantial settlement to accept blame for the soundtrack's issues. In response, Bethesda stated that it…
Nov. 16, 2022, 10:04 p.m.