Nvidia slashes its fourth quarter guidance, sending its shares into a downward spiral January 28, 2019 Chipmaker Nvidia has cut its fourth quarter revenue estimate by $500m (£379.7m) after its performance in China slowed, causing its share price to spiral down more than 18 per cent. Chief executive Jensen Huang said the firm had suffered an "extraordinarily, unusually turbulent and disappointing quarter", as Nvidia forecasted revenue of $2.2bn for the quarter ending in [...]
Dixons Carphone enjoys gaming boost but signals more trouble in mobile market January 22, 2019 Dixons Carphone retained its full-year profit guidance this morning as a surge in gaming and super-size TV sales over the crucial Christmas trading period helped counter a persistent slump in demand for postpaid mobile phones. Buoyed by foreign demand from markets such as Sweden, Denmark and Greece, the FTSE 250 kept its profit guidance of roughly [...]
Chinese tech firm Tencent is considering a bid for Nexon’s holding company January 19, 2019 Chinese tech firm Tencent is weighing up a bid for the holding company that controls South Korean gaming company Nexon. Tencent is looking to enlist co-investors as it considers making a move to acquire the company, according to Reuters. Private equity firms are looking at options for a potential deal, including taking the company private. [...]
Pokemon Go creator Niantic valued at $4bn after latest fundraise January 16, 2019 Niantic, the company behind the popular mobile game Pokemon Go, has been valued at nearly $4bn (£3.1bn) after raising $245m in a new round of financing. The series C funding round was led by IVP, which has previously backed the likes of Uber, Netflix, Dropbox and Slack. Additional investment came from Axiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV [...]
Mike Ashley’s high street gamble raises more questions than it answers December 13, 2018 Ten years ago in a Mayfair casino Mike Ashley made £1.3m on a single spin of the roulette wheel. His betting exploits, like those of fellow retail mogul Sir Philip Green, have highlighted the brash billionaire’s propensity to take risks. But over the course of 2018 Ashley has been making another type of gamble, not [...]
888 targets US expansion as it buys All American Poker Network from joint venture partner Avenue OLG Entertainment for $28m December 11, 2018 Online gambling company 888 has bought out the remaining half of All American Poker Network (AAPN) for $28m (£22.26m), it announced today. 888 acquired 53 per cent of the US gaming site from its joint venture partner Avenue OLG Entertainment and other minority shareholders. The deal will allow London-listed 888 to strengthen its position in the US [...]
Own, loan, or Drover: How the subscription economy is shaking up the car industry December 7, 2018 Felix Leuschner looks far too young to have founded three successful businesses. This German-born entrepreneur was just 23 when he launched what became Europe’s largest marketplace for gaming goods, where players could trade virtual products. After selling that company just nine months later, he moved to London and started a fast-fashion website called Stylistpick, collaborating with [...]
Gambling Commission hits online casino operators with nearly £13m in fines November 29, 2018 Regulator the Gambling Commission has levied fines worth nearly £13m on two online gaming operators, it said today. Two companies were fined for failing to put in place effective safeguards to prevent money laundering and keep consumers safe. Daub Alderney was ordered to pay £7.1m while Casumo was ordered to pay £5.85m. A third company, Videoslots, [...]
DEBATE: Netflix consumes 15 per cent of global net traffic – will an online traffic jam break the internet? November 19, 2018 Netflix consumes 15 per cent of global net traffic – will an online traffic jam break the internet? Carl Erik Kjaersgaard, chief executive of Blackwood Seven, says YES If the current internet infrastructure remains the same, this could be a risk. Netflix’s current consumption is only the tip of the iceberg. This statistic – published [...]
Angry Birds maker Rovio shares spike on rising profits November 16, 2018 Rovio, the firm behind popular smartphone game Angry Birds, has more than doubled its third-quarter profits beyond analyst expectations. Its share price almost 13 per cent on the news, despite the company warning it would need new games to drive further growth. The figures For the three months to September, the Helsinki-based firm reported adjusted [...]