MCV/DEVELOP News, events, research and jobs from the games industry
Senior industry sources say GameStop has found another reason not to make an offer for GAME: France. Three weeks ago we reported on industry speculation that claimed GameStop would ideally like to buy GAME assets that would give it a foothold in the British and Iberian markets, but doesn’t want …
Read More »IN PICTURES: GAME staff show store pride
Whatever happens to GAME, you can’t say its 6,000 UK employees didn’t put up a fight. Hundreds of store staff lobbied MCV this week with defaced and ‘updated’ versions of our contentious March 16th cover, where we stated that the GAME that we once knew was gone. Despite the uncertainty …
Read More »OpCapita takeover of GAME all but ruled out
A source close to Comet owner OpCapita has revealed to MCV that a deal to takeover GAME is now very unlikely. GAME this morning filed for administration and is understood to be preparing to re-launch in a slimmed-down guise under an amended management team. That’s despite the fact that OpCapita …
Read More »GAME has filed for administration
UK retailer GAME officially filed for administration, although it will continue to trade for the time being. "Further to this morning’s announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient …
Read More »GAME Group delisted from London Stock Exchange
GAME said its board sees "no equity value left in the Group" and as such wants to be taken off the stock market. The news comes just hours after we revealed the various scenarios ahead for the stricken retailer – one of which was to go into voluntary administration to …
Read More »GAME holds crunch talks with suppliers
A takeover at GAME still looks some way off, with the retailer having recently held talks with publishers in an effort to raise funds needed to pay store rents this weekend. GAME still hopes a takeover can be agreed, but it will not be completed in time to fund the …
Read More »Kongregate thriving under GameStop
Kongregate co-founder Jim Greer has revealed significant growth since Gamestop’s acquisition of the online gaming portal and social network back in July 2010. Greer tells VentureBeat that Kongregate doubled the number of virtual goods-based games on the site, subsequently tripling virtual goods revenue in the last year — adding that …
Read More »New iPad sells 3 million during launch weekend
Apple has revealed record sales numbers for the new iPad launch. The latest in the tech giant’s line of tablets has sold 3 million units since launching last Friday, March 16th. Apple released the new device across 10 countries simultaneously. "The new iPad is a blockbuster with three million sold?the …
Read More »Rivals positioning for post-administration swoop on GAME
MCV has learnt that a number of retailers and suppliers are putting plans and finances in place to ensure they are ready to acquire potentially cut-price assets should GAME go into administration this week. If a deal is not struck by the weekend it is likely that GAME will be …
Read More »GAME shares fall as time runs out on lender talks
With any potential deal to save GAME needing to be in place by this weekend, the retailer’s share price has taken a big hit on the markets this morning. Having closed on Friday at 3.072p, GAME’s share price opened at just 2.5p this morning before falling to 1.6p after just …
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