MCV/DEVELOP News, events, research and jobs from the games industry
OpCapita, the company that has tabled an offer to pay off GAME’s lenders, has put 1,000 Comet staff on notice of losing their jobs. That represents about 30 per cent of the workforce, The Sun reports. OpCapita has already cut 450 engineer positions and put hundreds” of call centre staff …
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 »Analyst questions OpCapita motivations
With a firm offer from OpCapita to acquire GAME Group understood to be on the table, one analyst has questioned the motivations behind the potential deal. Highlighting the fact that HMV is lucky to have decent assets to sell” and suppliers that have rallied around them”, independent analyst Nick Bubb …
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 »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 »PokePark 2 added to the GAME MIA list
Today may have delivered some potentially good news for GAME, but the frustration continues for the chain’s customers. Following confirmation earlier today that 3DS title Kid Icarus: Uprising and Sega’s Yakuza: Dead Souls will not be stocked by the retailer, Nintendo’s PokePark 2 for Wii has been added to the …
Read More »Blueshore: GAME offers "tremendous value" for investors
US investment fund specialist Blueshore Global Equity has told MCV that it believes retailer GAME is a tremendous investment prospect – even if it does enter administration. Blueshore recently acquired an eight per cent stake in GAME Group and tonight told MCV that the market is failing to recognise the …
Read More »RUMOUR: Walmart to offer 12p per share for GAME
Investors believe that Walmart is prepared to offer 12p per share to buyout GAME Group. News of Walmart’s approach to GAME was revealed exclusively by MCV this afternoon. As recently as Monday, GAME shares plunged to an all-time low of just 0.5p. However, rumours of a buyout today have seen …
Read More »CONFIRMED: OpCapita tables GAME buyout offer
The future of retailer GAME could be on the verge of being secured. The Times reports that Comet owner OpCapita has offered to buy out the GAME Group’s lenders, including the complete repayment of all of the chain’s suppliers. This has since been confirmed to MCV. This is particularly good …
Read More »There are 10 days left to save GAME
MCV understands that staff within GAME’s Basingstoke headquarters believe the firm will fall into administration on March 24th unless a buyer is found. That is a day before GAME’s quarterly rent day of March 25th on which GAME will be required to pay the leases for many of its stores. …
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