MCV/DEVELOP News, events, research and jobs from the games industry
Publishers Codemasters, Konami and 1C have weighed in on the trouble engulfing GAME. Firms hope the ‘shake-up’ could be for the good of the industry, and that GAME will re-emerge a fitter, leaner enterprise. Konami’s UK General Manager Pete Stone told MCV: "One way or another it’s crunch time for …
Read More »GAME rivals: ‘We will fill the gap’
Rival retailers say they are ready to step up as the credit crisis at GAME Group deepens. But these competitors are not celebrating, with leading outlets fearful of what the loss of their ‘gold-standard market leader’ will mean for the future of UK games retail. Retailers such as ShopTo have …
Read More »Xbox and Activision pull GAME support, says leaked memo
A leaked memo from GAME, seen by MCV, says that Activision and Microsoft are the latest publishing giants to not supply the troubled specialist giant. Activision titles Cabela Big Game Hunter 2012 and Zhu Zhu Babies, plus Microsoft’s Kinect Rush: A Disney/Pixar Adventure, will not be sold by the retailer, …
Read More »GAME confirms rescue bid
GAME Group has confirmed that a ‘third party’ has shown an interest in providing financial support to the stricken retailer. Although not mentioned in the statement, that third party is OpCapita, the investment firm who also owns electricals retailer Comet. But GAME stress that although OpCapita has sought dialogue with …
Read More »Now Sega games will miss GAME
Sega’s Yakuza: Dead Souls is the latest game that will not be stocked by GAME or Gamestation. Despite the excitement surrounding a possible buyout, GAME is still suffering serious supply issues. Already, EA, Nintendo, Tecmo Koei and Capcom have not supplied game with their latest titles. That means Kid Icarus: …
Read More »GAME’s shares rally on acquisition reports
GAME’s share price has shot above two pence following reports the retailer is about to be bought. That’s up 95 per cent since the start of the day. According to The Times, Comet owner OpCapita – a private investment firm – is planning to swoop for the games specialist. Meanwhile, …
Read More »GAME buyer ‘would prefer to wait for a formal administration’
Pundits say that GAME will have to go into administration or become insolvent before acquirers step in. The troubled UK retailer has already had a tough day, with shares hitting an all-time low as speculation about its future continuing to mount. Now analysts reckon the worst will have to happen …
Read More »Latest GAME statement shows firm’s uncertain future
Mounting weekend speculation about GAME has forced the Group to issue a statement about its future. GAME says that "it has not been possible to source new products from a number of suppliers", despite ‘ongoing discussions’ with those firms. It also reconfirmed that it is reviewing its entire business and …
Read More »Riccitiello: "Other retailers will absorb the business" if GAME goes
He carefully avoided naming it, but EA’s CEO last week said it’s "all but a certainty" GAME has two terrible weeks ahead. But he thinks other retailers will pick up the slack. Speaking at a Wedbush Morgan technology investors event last week, John Riccitiello said the firm is "still praying …
Read More »Report – GAME puts itself up for sale
GAME has hired Rothschild to find a buyer for the beleaguered retailer, The Sunday Times reports. The paper writes that GAME has to pay landlords in two weeks. Failure to pay rents could push the firm into administration jeopardising thousands of jobs. As widely reported, GameStop is interested in the …
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