All articles tagged with #business and gaming
Caesars Entertainment shareholders approved Tilman Fertitta’s $17.6 billion acquisition on September 22, 2026, in Reno. The deal values the company at $17.6 billion, including $11.9 billion in assumed debt, and pays shareholders $31 per share. Regulatory approvals remain pending, with closure expected in the first half of 2027.
Take-Two Interactive has acquired Gearbox Entertainment from Embracer Group for $460 million as part of Embracer's restructuring efforts following a failed $2 billion deal. The sale includes Gearbox's development entities and franchises, with Take-Two gaining ownership of titles like Borderlands and Homeworld. Embracer retains other branches of Gearbox and is integrating them into the company. Gearbox confirms six titles in the works, including sequels and a new IP. Both Embracer and Gearbox CEOs express confidence in the transaction's benefits for all stakeholders.
Embracer Group is reportedly selling Saber Interactive to private investors for up to $500 million, making Saber a privately owned company with around 3,500 employees. Despite Embracer's restructuring and job cuts, Saber will continue working on the Star Wars: Knights of the Old Republic remake. The deal may also involve bringing along some Embracer subsidiaries, and Saber recently announced a new game, Jurassic Park: Survival.
Hasbro reported that Baldur's Gate 3 has generated $90 million in revenue since its release, contributing to a 7% increase in revenue for Wizards of the Coast. Despite this success, Hasbro experienced an overall revenue decline of 15% and a $1.5 billion loss in 2023, leading to significant layoffs. The company's CEO remains optimistic about their "Fewer, Bigger, Better" strategy and anticipates continued momentum in 2024, despite potential industry challenges.
Hasbro has earned approximately $90 million from the critically acclaimed video game Baldur’s Gate 3 since its August release through a licensing deal with Belgian developer Larian Studios, which utilized the Dungeons & Dragons property owned by Hasbro subsidiary Wizards of the Coast. The game has garnered overwhelmingly positive reviews and sold millions of copies across various platforms, with sales expected to continue through 2024, albeit at a slower pace.
Hasbro has earned approximately $90 million from the critically acclaimed video game Baldur’s Gate 3 since its release in August, thanks to a licensing deal with Belgian developer Larian Studios, which used the Dungeons & Dragons property from Hasbro subsidiary Wizards of the Coast.
Microsoft's FY24 Q2 financial results show a 49% year-over-year increase in gaming revenue, driven by the impact of the Activision Blizzard acquisition. Xbox content and services revenue rose by 61%, while hardware revenue increased by 3%. The growth is attributed to the integration of Activision Blizzard, with the company's gaming division experiencing significant expansion. However, this growth comes amid layoffs, particularly at Activision Blizzard, raising questions about the necessity of the workforce reductions despite the soaring numbers.
Johanna Faries, former Call of Duty boss, has been appointed as the new head of Blizzard following the departure of Mike Ybarra. Faries, who previously worked for the NFL, acknowledges the differences between Activision, Blizzard, and King, and expresses respect for Blizzard's distinct games and culture. With Faries moving to Blizzard, Call of Duty's current Vice President of Product Management, Matt Cox, will take over as head of the franchise. Despite Microsoft's acquisition of Activision Blizzard, the company has committed to releasing Call of Duty on Sony's consoles for the next ten years, and live service titles like Overwatch 2 and Diablo 4 will continue to be updated on PlayStation platforms.