Game on: Aristocrat bets £2.7bn on takeover of gambling platform Playtech October 18, 2021 Gaming technology company Aristocrat is acquiring the entire issued and issued ordinary share capital of gambling platform Playtech for 680p in cash per share. The acquisition, made through a subsidiary of Aristocrat – Bidco – has an approximate value of £2.1bn on a fully diluted basis, with £2.7bn value on an enterprise value basis. “This [...]
Entain caught between US rivals DraftKings and MGM as £18bn takeover looms September 22, 2021 Ladbrokes owner Entain has confirmed a £18.4bn takeover bid by US betting giant Draftkings which puts the FTSE 100 company at the centre of a battle between its US partner MGM and its prospective buyer. In a statement published yesterday, the board of Entain confirmed it had received a second takeover offer from Draftkings on [...]
‘We’re in a great place’: Frontier Developments charts robust growth despite release hiatus September 8, 2021 Shares in Frontier Developments rose this morning after the video game publisher hit its target full-year sales despite no new releases and the board projected strong 2022 growth due to its “strongest ever” games roadmap. The AIM-listed firm reported a pre-tax profit of £19.2m in the year to the end of May, up 20 per [...]
Chinese state media softens tone on online gaming August 4, 2021 Chinese state media has softened its rhetoric on online gaming after a highly critical article sent the value of leading tech companies into a tailspin. A piece published by the Economic Information Daily on Tuesday likened online games to “spiritual opium” sparking fears of a regulatory crackdown. In response the value of Tencent Holdings Ltd., [...]
Tencent shares fall ten percent amid crackdown fears August 3, 2021 Chinese tech firm Tencent saw shares fall by some 10 per cent on Tuesday after the Chinese government labelled video games “spiritual opium.” An article posted by the state-run newspaper, Economic Information Daily, warned that a “new type of electronic drug” was “advancing by leaps and bounds”. Fears that Beijing might crackdown on online gaming [...]
‘Candy Crush’ maker fighting allegations of a culture of gender discrimination and sexual harassment July 27, 2021 The makers of Candy Crush and Call of Duty, Activision Blizzard, is fighting a lawsuit that alleges it oversaw a culture of sexual harassment, gender discrimination and retaliation for reporting abuse. It follows years of allegations levelled at the lucrative gaming industry that it is rife with gender inequality and misogyny. Activision Blizzard, the most [...]
Dixons Carphone posts £4.9bn UK revenue, buoyed by ‘explosion’ of gaming June 30, 2021 Dixons Carphone has posted a £4.9bn revenue from electricals in the UK and Ireland today, as it reaped the benefits of the pandemic-induced tech boom. Its revenue climbed eight per cent in the UK in the year to 1 May, up from £4.5bn the year before, the group said in its audited annual results this [...]
Nintendo profits soar as home gaming booms in 2020 February 1, 2021 Video game giant Nintendo saw its profit almost double in 2020 as the world played games at home during the pandemic. The Japanese company said its April to December profit surged to 376.6bn yen ($3.6bn) from 196bn yen in 2019. It reported more than a 10 per cent rise in its Switch games console sales [...]
Billionaire Las Vegas casino baron and Trump donor Sheldon Adelson dead at 87 January 12, 2021 Sheldon Adelson, who founded and ran Las Vegas Sands, the world’s largest gambling companyn since 1988 has died aged 87.
EA to buy UK game developer Codemasters for $1.2bn December 14, 2020 Gaming giant Electronic Arts (EA) has reached a deal to buy British firm Codemasters for $1.2bn (£900m), gatecrashing US rival Take-Two Interactive’s earlier offer. Codemasters said it has “shared ambitions to lead the video game racing category” with California-based EA. “The board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources and [...]