MCV/DEVELOP News, events, research and jobs from the games industry
Speaking to investors following the publication of its most recent fiscal results, GameStop has seemingly ruled out the chance of a GAME takeover in the UK. Having closed all of our UK stores, we are focused entirely on competing digitally in the UK," GameStop International’s executive VP Mike Mauler stated. …
Read More »GameStop "expects to open stores opportunistically"
Retail giant GameStop has said it expects to open international stores opportunistically while keeping square footage flat”. The statement comes as behind-closed doors negotiations between GAME and other companies continue ahead of its move into administration in nine days time. For Q4 the retailer suffered a 3.6 per cent drop …
Read More »Who, if anyone, will buy GAME?
Leading financial and retail experts are all eyeing up a move for GAME Group. But as-of-yet only one has made a firm offer. Some GAME rivals have even readied funds in preparation of a possible administration – with the firm’s 19.4m loyalty card database and GAME.co.uk domain amongst the targets. …
Read More »French connection slowing GameStop GAME bid, say execs
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 »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 »Indies profit from GAME shortages
Small UK games retailers are thriving after customers flocked to them to buy Mass Effect 3. Indie retailers have seen sales spike as GAME fails to stock top new releases such as Street Fighter X Tekken, Mario Party 9 and the aforementioned Mass Effect. We’ve just had our best weekend …
Read More »Hilco and OpCapita linked to GAME acquisition
As stated by MCV yesterday, the widespread belief that GameStop will swoop to acquire part or all of GAME could yet prove wide of the mark. Although GameStop can still confidently be regarded as the front-runner, The Financial Times has named two other would-be suitors – Hilco and OpCapita. Hilco …
Read More »Is GameStop actually in a position to buy GAME?
The presumption that GameStop will inevitably acquire GAME could be wide of the mark, if analyst warnings are to be believed. GameStop may have fared far better than its transatlantic rival amidst the recent changes to the games industry, but the uncertainty surrounding the future of the games market could …
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 …
Read More »D-Day looms for GAME
MCV has learnt that senior members of the GAME management teams have been told to brace for the possibility of administration. Senior staff were told at a meeting with CEO Ian Shepherd earlier this week that the chain has approximately two weeks to turn its fortunes around. However, hope remains …
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