MCV/DEVELOP News, events, research and jobs from the games industry
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 …
Read More »Lenders shun OpCapita’s GAME rescue bid
It appears that GAME’s chief lenders have thrust the retailer back toward the brink of administration by rejecting the offer tabled by Comet owner OpCapita. The Guardian reports that OpCapita’s plan to settle debts with chief lenders such as The Royal Bank of Scotland, as well as 40m worth of …
Read More »Indie Royale sells 22,000 bundles in a day
St. Patrick's Day bundle may be best seller yet
Read More »UK games retail generated £17.9m last week
The UK games retail market rallied last week thanks to the release of EA’s Mass Effect 3 and Capcom’s Street Fighter X Tekken. The pair helped break a two-week decline, generating a 47.9 per cent increase in market value to 17.9m. Unit sales rose 27.2 per cent. However, the market …
Read More »OPINION: About that MCV cover…
GAME’s communications boss called me earlier. I am not a popular person at the retailer’s Basingstoke HQ right now. And for good reason. I’ve had hate mail from some of GAME’s 6,000 employees this morning. I am not a popular person at the retailer’s 600 shops right now. And for …
Read More »Argos sales decline 8.5%
Home Retail Group has revealed that its Argos chain suffered an 8.5 per cent decline in like-for-like sales for the eight weeks ending March 3rd. Overall sales fell 7.7 per cent to 480m. The numbers were apparently driven by the continued weakness in the consumer electronics market”. 12 stores were …
Read More »Goldman Sachs acquires 13m GAME shares
World financial giant Goldman Sachs has become the latest company to swoop for stock in The GAME Group. The purchase was made on March 12th and was publically announced this morning. Goldman Sachs has acquired 13,120,220 shares in the company, entitling it to 3.78 per cent of its voting rights. …
Read More »Investors predict stock surge as GAME shares climb
GAME’s share price has begun to rise dramatically with investors sensing a strong recovery over the next 24 hours. Stock is currently trading at 3.20p, an increase of over 50 per cent. It even reached as high as 3.7p in the minutes after the markets opened. Earlier this week the …
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 »UPDATE: GAME blocked from stocking Star Wars Xbox 360 console
The upcoming Limited Edition Star Wars themed Xbox 360 hardware SKU will not be stocked at GAME, MCV can reveal. News broke just moments ago that both Microsoft and Activision have joined Sega, Capcom, Nintendo and Tecmo Koei in refusing to sell stock to GAME Group stores. MCV has learned …
Read More »