TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent to invest CN¥500bn (£57.0bn) in infrastructure; League of Legends adds in-game banners; and Renegades CEO fined USD$15,000 (£12,000) by FINRA. Tencent to invest CN¥500bn (£57.0bn) in infrastructure Dowson Tong, Senior Executive Vice President at Tencent Holdings Ltd. has announced that the Chinese conglomerate will be investing approximately CN¥500bn (£57.0bn) in infrastructure over the next five years, with aims to both support and diversify from its video game [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Take-Two posts record Q4 financials; Tencent acquires System Shock 3 licence; and G2A settles USD$40,000 (£32,600) key sales dispute. Take-Two posts record Q4 financials Take-Two has posted company-record net revenue for the fourth quarter ended March 31st 2020, with the New York-based holding company generating USD$760.5m (£620.7m), up 41% from the equivalent period last year. This growth was driven by a 40% increase in recurrent consumer spend through [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Keywords raises £100m acquisition fund; Ubisoft sues Apple and Google; and Tencent to establish North American AAA studio. Keywords raises £100m acquisition fund Keywords Studios has raised approximately £100m through the issuance of 6.9 million new ordinary shares at a placing price of £14.50, with the financing to be used to support the acquisition of video game service companies struggling as a result of the Covid-19 pandemic. Any [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Lightheart Entertainment raises €1.3m (£1.1m); Demiurge regains independence; and Tin Giant sues Atari. Lightheart Entertainment raises €1.3m (£1.1m) Lightheart Entertainment has raised seed funding of €1.3m (£1.1m) from Galaxy Interactive’s EOS VC fund. The investment will be used by the Helsinki-based studio to expand its debut mid-core title Mr. Autofire beyond its test launch in the United States, as well as developing further titles within the mobile sector. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: USD$4.2m (£3.2m) seed round for Pragma; Lince Works raises USD$3.4m (£2.6m); Joy-Con drift lawsuit referred to arbitration; Daniel Alegre appointed as COO and president of Activision Blizzard. USD$4.2m (£3.2m) seed round for Pragma Back-end development support provider Pragma has raised USD$4.2m (£3.2m) in a seed round led by Upfront Ventures, with a range of participating investors including Advancit Capital; Jarl Mohn (NPR, former Riot Games); Dan Dinh (TSM) [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Gismart sixth-fastest growing company in Europe; GameOn Technology raises USD$10.5m (£8.20m); Zynga facing class-action lawsuit; and Sensel raises USD$28m (£22m). Gismart named sixth-fastest growing company in Europe London-based mobile developer-publisher Gismart has been named the fastest growing gaming business, and the sixth-fastest overall, in Europe in the FT 1000 list compiled by the Financial Times. According to the figures, Gismart grew its revenue in absolute terms by 8,788.3% [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: iDreamSky in Leyou takeover talks with CVC; Facebook sues oneAudience; and NetEase releases 2019 financial results. iDreamSky in Leyou takeover talks with CVC Mobile developer iDreamSky Technology Holdings Ltd. is in advanced talks with private equity firm CVC Capital Partners to partner on an estimated USD$1.4bn (£1.1bn) acquisition deal for Hong Kong-based video game holding company Leyou Technologies Holdings Ltd., according to sources speaking to Bloomberg. As previously [...]

TheGamingEconomy’s Daily Digest brings you the trending stories in gaming. In today’s news: Disney sells FoxNext Games; Valve not planning release of Source 2 SDK; and Nintendo wins European Court ruling on digital refunds. Disney sells FoxNext Games Disney has sold FoxNext Games Los Angeles and Cold Iron Studios to mobile developer Scopely for an undisclosed sum, thought to be in the region of USD$250m (£191m). The San Francisco-based FoxNext Fogbank Entertainment studio was not included in the deal, and will likely [...]

TheGamingEconomy Daily Digest brings you the trending business stories in gaming. In today’s edition: Tencent partners with NVIDIA for START; Nreal files Magic Leap counter lawsuit; and Rambler Media Group drops Twitch claim. Tencent partners with NVIDIA for START Tencent and NIVIDIA have announced a partnership which will see the latter’s GPU technology power the upcoming Tencent START cloud gaming platform. Moreover, the two firms have announced a “joint innovation lab” which will examine new applications for AI, game engine software optimisations [...]

TheGamingEconomy Daily Digest brings you the trending business stories in gaming. In today’s edition: Call of Duty Mobile generates USD$87m (£66m); Ragnarok sues Human Head; Microsoft working on low-cost disc-less Scarlett console; Microsoft shareholders reject publication of gender pay gap report. Call of Duty Mobile generates USD$87m (£66m) Call of Duty Mobile has generated USD$87m (£66m) from 172 million downloads since its release on 1st October, according to estimates from Sensor Tower Store Intelligence. The data suggests that demand for the title, [...]