Game Digital’s shares jump on news of e-sports areas in Sports Direct’s stores
Game Digital’s shares have jumped by 10 per cent this morning after it announced it was opening e-sports areas in Sports Direct’s shops.
Sports Direct bought a stake in Game in July last year after the company issued a profit warning. Today, chief financial officer Jon Kempster said the new partnership with Game showed how Sports Direct was building commercial ties on the back of its strategic investments.
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Sports Direct has bought 50 per cent of Game’s Belong business, which provides the gaming areas, for £3.2m.
At time of writing, Game’s share price was up 9.1 per cent to 41.4p.
Martyn Gibbs, Game’s chief executive, said the deal was part of the company’s strategy to focus on providing experiences to consumers, rather than just physical products.
“As more consumer focus and spend moves to experiences, we are well advanced in delivering unique, world class gaming at both a local and national level,” he said.
“Having launched the Belong brand just over a year ago, we have now opened 19 arenas and are very encouraged by the popularity and performance of these locations.”