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 [...]
GameStop rises on Wall St open as FCA issues trading warning January 29, 2021 GameStop stock was up more than 100 per cent as US markets opened today, as popular trading platform Robinhood eased restrictions on buying into the stock. The army of small investors behind this week’s dramatic squeeze on Wall Street hedge funds returned to drive shares in GameStop and other hot companies higher on Friday as online broker [...]
The Week in Sportbiz: Fresh fears over Tokyo Olympics; Pound calls for athletes to jump vaccine queue; China’s $900m esports palace January 7, 2021 Tokyo 2020 Olympics organisers have attempted to calm fears that the Games will not go ahead after a state of emergency was declared in the city. Japan’s prime minister Yoshihide Suga announced the measures today in response to a steep rise in Covid-19 cases. The Olympics was rescheduled in response to the pandemic last summer [...]
Sports law in 2021: Data disputes, the evolution of esports, all eyes on Premier League TV rights, and rules tighten for clubs and agents December 31, 2020 While there may not have been as much action on the pitch in 2020, this year has been an eventful one for sports lawyers off the pitch to say the least. Coronavirus has acted as a magnifying glass, intensifying the financial and legal pressures that those in the sports ecosystem face. But how is 2021 [...]
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 [...]
Esports brand Fnatic launches crowdfunding campaign after raising $10m November 11, 2020 Shoreditch-based Fnatic is launching a crowdfunding campaign on the back of an increased interest in esports and a recent internal funding round. Venture capital firm Beringea led the $10m round with participation from existing investors Unbound, LVL1 Global and JHD, bringing total investment in Fnatic to nearly $35m. Fnatic, which is the second most watched [...]
Ladbrokes owner GVC raises full-year outlook as online gaming surges October 8, 2020 Ladbrokes owner GVC Holdings has raised its full-year outlook as revenue jumped 12 per cent in the third quarter helped by a surge in online gaming and sporting events.
Shot in the arm for e-sports market as David Beckham-backed enterprise is UK’s first to float October 2, 2020 David Beckham’s e-sports company Guild Esports started trading on the London Stock Exchange today. The firm, which trades under the ticker GILD, is the first major e-sports company to go public in the UK. Guild Esports said earlier this week that its oversubscribed offering of 250m shares was priced at 8 pence per ordinary share. [...]
Government cracks down on loot boxes in bid to curb child gambling September 23, 2020 The government is considering banning controversial loot boxes in video games as ministers seek to crack down on problem gambling among younger generations. The Department for Digital, Culture, Media and Sport (DCMS) is today launching a consultation on the video game features, which gamers can purchase for the chance of receiving randomised virtual items. Ministers [...]
Long read: Advertisers look to esports as gamers flock to virtual stadia April 13, 2020 Advertisers might find rich pickings in the world of esports, writes James Warrington Over the last few days, a meme purporting to show a model of a stadium that would seat 1 million people has circulated on social media. The image is probably fabricated and certainly ludicrous — even North Korea has only managed to [...]