TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games raises USD$1.78bn (£1.35bn); Trump signs executive order against Tencent; and Enthusiast Gaming acquires Omnia Media. Epic Games raises USD$1.78bn (£1.35bn) Epic Games has announced that it has raised USD$1.78bn (£1.35bn) of primary capital and secondary purchases from a host of investors, including Baillie Gifford; BlackRock; Lightspeed Venture Partners; T. Rowe Price Associates; and returning partners KKR and Smash Ventures. The North Carolina-based firm has confirmed that [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga acquires Rollic; Nintendo profit up by 428%; Big Run Studios raises USD$5.25m (£4.00m); and Venatus partners with Frameplay. Zynga acquires Rollic Mobile gaming giant Zynga has announced that it has entered the hyper-casual market with the acquisition of Istanbul-based developer-publisher Rollic for a minimum cash consideration of USD$168m (£128m). As well as growing its audience by the measure of around 65 million monthly active users (MAUs), Zynga [...]

In this exclusive interview with TheGamingEconomy, Rogue Games COO Bryan Buskas discusses the California-based publisher’s focus on premium mobile games (Apple Arcade, Google Play Pass), free-to-play titles, and recently announced expansion to PC and Console games. How has the coronavirus pandemic affected Rogue Games’ publishing model? If you were to ask us about our priorities six months ago, we were very focused on a handful of free-to-play mobile games, which would compete in the largest mobile games market segment. However, in Q4 [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Activision Blizzard posts record Q2 results; Keywords Studios expects 13% revenue gain; and Ubisoft partners with Anzu.io. Activision Blizzard posts record Q2 results Activision Blizzard has joined fellow industry behemoths Electronic Arts (EA) and Take-Two Interactive in announcing company-record revenues for the previous financial quarter. GAAP net revenues surpassed the previously forecast USD$1.69bn (£1.29bn), climbing by 38.4% year-over-year to USD$1.932bn (£1.479bn), driven by a 45.9% boost to digital [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Take-Two Interactive revenue up 54%; Blizzard employees angered over pay disparity; and Ubisoft partners with Parsec. Take-Two Interactive revenue up 54% Take-Two Interactive Software Inc. has reported company-record results for the first quarter of the 2020-2021 financial year, with GAAP net revenue increasing by 54% to USD$831.3m (£626.2m) and net bookings up 136% to USD$996.2m (£762.4m). Recurrent player spending from in-game purchases within its existing properties including Grand [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: China to enforce age ID system from September; Veloce merges esports and racing divisions; and Microsoft rebrands Game Pass. China to enforce age ID system from September China has announced that its updated real-name identification system for games, ostensibly designed to limit both the time and money spent by children within games, will be implemented nationally from September onwards. As reported in the South China Morning Post, Central [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: EA posts record quarterly results; Fnatic expands OnePlus partnership; and Mogul net operating cash flow falls by 35%. EA posts record quarterly results Electronic Arts (EA) has posted its results for the quarter ending June 30th, with revenue climbing by 21% year-over-year to a company-record USD$1.46bn (£1.12bn), despite only releasing two titles during the period, both of which were remasters of existing IP. The revenue growth was driven [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Riot Games terminates Neom partnership; Volograms raises €1.5m (£1.4m); and Konami enters PC hardware market. Riot Games terminates Neom partnership Riot Games has announced that it has terminated the partnership between its League of Legends European Championship (LEC) division and Saudi Arabian city building project Neom, just a day since the collaboration was agreed. The cancellation comes after staunch criticism of the deal over Saudi Arabia’s human rights [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Vindex raises USD$300m (£232m) and acquires GAME’s Belong; mobile app and game fraud falls 30%; and Polyarc raises USD$9m (£7m). Vindex raises USD$300m (£232m) and acquires GAME’s Belong New York-based esports startup Vindex has raised USD$300m (£232m) in funding from as-yet undisclosed sources, and will acquire UK retailer GAME‘s Belong Gaming network of gaming sites in a deal valued at approximately USD$50m (£39m). According to a report published [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge Games acquires Double Star; EU IMCP recommends new loot box approach; and 2020 XR forecast revised to USD$6.9bn (£5.4bn). Huuuge Games acquires Double Star Szczecin, Poland-based developer-publisher Huuuge Games has announced the acquisition of Finnish indie studio Double Star for an undisclosed sum. Double Star, which previously collaborated with Huuuge Games on the release of casual mobile RPG Bow Land, will operate as a subsidiary studio out [...]