MCV/DEVELOP News, events, research and jobs from the games industry
Administrator PricewaterhouseCoopers estimates that the financial gulf left by the demise of GAME Group will total 131.2m, according to documents obtained by MCV. The company’s most valuable asset was Gamestation, which had a book value of 86.2m. This compares to GAME’s book value of 37m. GAME’s Czech Republic operations were …
Read More »NPD says total US games market was over $1bn in April
The money generated from overall game sales in the US during April has been estimated at a whopping $1bn. This figure from The NPD Group includes sales of hardware, accessories, new and used physical games at retail, rentals, digital downloads, add-on content, subscriptions, mobile games and social network titles. It’s …
Read More »Baker becomes Game Retail Limited
Game Retail Limited is the UK’s new leading High Street video games retailer. It’s the new permanent name for the Baker Acquisitions Limited, the OpCapita owned company that acquired the UK assets of GAME Group’s UK operations on April 1st. GAME Group Limited remains in administration, with administrator PwC in …
Read More »OPINION: End of the GAME drama renews the market
The problem posed by a large operation like GAME Group was the shadow it cast over everyone else. GAME was a hefty beast. With two major High Street brands, over 600 UK stores, almost 6,000 employees-cum-hardcore gamers, no wonder it was looked at with both awe and scorn. It used …
Read More »GAME shares delisted from London Stock Exchange
The Financial Services Authority has delisted shares of GAME from the stock market this morning. The news comes after the retailer requested its complete removal from the London Stock Exchange yesterday. GAME Group securities have been cancelled from trading on the London Stock Exchange as well as two other investment …
Read More »Blueshore urges "fair and just" administration for GAME
The value of GAME’s assets needs to be reassessed to ensure that shareholders receive a rightful return on their investment, Blueshore Global has told MCV. Having acquired new stock in the retailer yesterday before its filing for administration and stock freeze this morning, the company – which owns nine per …
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 »EXCLUSIVE: Walmart makes GAME approach
MCV understands that American retail giant Walmart has made contact with GAME about a possible acquisition of the retailer. Walmart is the world’s 18th largest public corporation with over 9,000 stores worldwide. It is also the owner of UK supermarket Asda. In 2011 it generated worldwide revenue of $422bn. In …
Read More »GAME stock plummets below 1p
It’s a sorry Monday morning for beleaguered retailer GAME today with stock in the company dropping to an all-time low. Having closed on Friday evening at an already rock-bottom 3.51p per share, GAME’s stock opened Monday morning on a bewilderingly low 1.75p. In the minutes that followed it fell as …
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