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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst outlines the Macao gaming companies poised to gain market shareVitaly Umansky, Global Gaming Senior Analyst at Seaport Research Partners, explains why he sees little policy risks for Macao's gaming industry right now.
Persons: Vitaly Umansky Organizations: Global Gaming, Seaport Research Partners Locations: Macao
Hard Rock has the monopoly on sports betting in the state, winning the exclusive tribal gaming compact following a hard-fought battle against Flutter -owned FanDuel, DraftKings and Penn Entertainment. When asked about comments made by FanDuel CEO Amy Howe on trying again to get into the Florida market, Hard Rock International Chairman and Seminole Gaming CEO Jim Allen said he's open to it. FanDuel and DraftKings declined to comment on the possibility of entering into a deal with Hard Rock. Last December at Seminole Hard Rock, the company marked what it called "a new chapter in Florida gaming," when it launched sports betting and expanded the casino table games across six Seminole Casinos in Florida. Allen declined to give specifics on sports gaming revenue in Florida on the basis that the tribe is a sovereign nation.
Persons: Hard, Amy Howe, Jim Allen, we've, Allen, he's, Howe, she's Organizations: Penn Entertainment, Rock, Seminole Gaming, CNBC, Global, Hard, Sunshine State, American Gaming Association, Division, Seminole, Seminole Casinos Locations: DraftKings, Florida, Las Vegas, California, New York
As BetMGM tries to regain momentum in the gaming market, it's banking in part on gains in NFL betting and the draw of new technology. CEO Adam Greenblatt is counting on newly launched technology to woo customers, he told CNBC on Tuesday at the Global Gaming Expo in Las Vegas. During the spring baseball season, BetMGM credited the new tech for powering a 209% increase in MLB home run betting over the same time frame a year earlier. "What we are seeing now, year on year, season to date for NFL, 125% increase in first-time depositors in Vegas. "Our players are coming back from week to week in a way, in a more engaged way than in prior periods," he said.
Persons: BetMGM, Adam Greenblatt, Greenblatt, it's Organizations: CNBC, Global, MLB, NFL, BetMGM Locations: U.S, Las Vegas, Nevada, Vegas
FanDuel parent Flutter Entertainment will spend $2.6 billion, or 2.3 billion euros, to acquire Italian gambling company Snaitech from Playtech , adding to a string of deals that aim to boost international growth. Italy is a particularly attractive market for Flutter, as it had about 21 billion euros in gross gaming revenue in 2023. It also acquired Italian lottery and gaming operator Sisal in 2022, and just reported record online market share in Italy in the second quarter. Flutter said Snai had almost 10% market share in Italy last year and nearly 300,000 monthly active users. The new business will be renamed Flutter Brazil, and the deal is expected to close in the second quarter of 2025.
Persons: Snai, Peter Jackson Organizations: New York Stock Exchange, CNBC, NSX Group, Group, MGM Resorts, Grupo Globo, Global Locations: Playtech, Brazil, , Italy, Massachusetts, U.S
The New York Stock Exchange welcomes executives and guests of Roblox in celebration of its direct listing, March 10, 2021. Roblox , the popular kid's gaming platform that generates billions of dollars a year in the virtual world, is getting real. The company said on Friday that some game developers on the platform will be able to charge users real money rather than relying on payments through Roblox's digital currency called Robux. Game creators can now more easily sell to users without dealing with an intermediary virtual currency. It's part of the company's ambitious plans to facilitate 10% of all global gaming content sales through the Roblox platform and reach 300 million daily active users.
Persons: Manuel Bronstein Organizations: New York Stock Exchange, Roblox Locations: San Jose , California
The Esports World Cup (EWC) – which began on July 3 – has brought together professional gamers, publishers and fans from across the world for an eight-week competitive gaming bonanza. To bring this on the similar scale as the largest traditional sports events and something that brings together the whole industry,” Reichert said. Discovery – CNN’s parent company – and the Esports World Cup Foundation agreed to a new partnership which includes Eurosport, CNN and other WBD platforms. “From my experience, there are a lot of people in [Saudi Arabia] that love their games, right to the top. “It’s probably unprecedented how quickly Saudi Arabia is moving ahead in its progression.
Persons: , Ralf Reichert, ” Reichert, , Gen.G, Mohammed Saad, Reichert, , Sam Mathews, It’s, it’s, Prince Mohammed bin Salman, sportswashing, SGG, Rod Breslau, “ It’s, ” Dana Ahmed, Manahel, Otaibi, Nick McGeehan, FairSquare, Mohamed bin Salman, Liquid’s, Steve Arhancet, Mathews Organizations: CNN, CNN Sport, Riot, New York Times, Adidas, Warner Bros, Eurosport, Anadolu, Getty, EWC, EWC Foundation, Saudi, MBS, Fox News, Investment Fund, Gaming, Amnesty, Fnatic, Locations: Saudi, Saudi Arabia, esports, “ Saudi Arabia, Breslau
While NCsoft shares are only traded in South Korea, they are accessible to U.S. and European investors through ETFs. The company's shares have been hit hard over the past few years, with the stock price declining significantly from its peak in 2021 and falling 40% over the past 12 months. German, co-manager of the Emerging Market Value strategy at Schroders , attributes the sell-off to several factors. In addition, NCsoft also announced a cost-cutting program and a share buyback program earlier this month which have already boosted the company's stock price by around 10%. Most analysts have a hold rating on the stock, giving shares only a 2% upside, according to FactSet data.
Persons: Vera German, NCsoft, Nexon Organizations: Esports, CNBC Pro, Investor Conference, South Korean Locations: Korean, South Korea, London, Korea
Analyst discusses Las Vegas Sands' financial results
  + stars: | 2024-04-18 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses Las Vegas Sands' results, says there's an 'unwarranted negative view' on sectorVitaly Umansky, global gaming senior analyst at Seaport Research Partners, discusses Las Vegas Sands' results, its Singapore market, and the outlook for the wider sector.
Persons: there's, Vitaly Umansky Organizations: Sands, Seaport Research Partners Locations: Singapore
The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. Casual gaming brand Ohayoo, whose games feature on Douyin - TikTok's sister app in China - will not be affected, neither will casual games that run on TikTok, one of the people said. ByteDance's 2019 creation of Nuverse was widely seen as a major push into global gaming and a strategic element of its competition with domestic rival Tencent Holdings (0700.HK), the world's biggest gaming company. Nuverse came into focus again in 2021 when ByteDance formalised its status as one of its six business units under a broader structural overhaul.
Persons: Aly, Will, ByteDance, Pico, Nuverse, Josh Ye, Brenda Goh, Christopher Cushing Organizations: REUTERS, Reuters, Moonton Technology, Tencent Holdings, HK, C4games, Thomson Locations: Shanghai, China, HONG KONG
Entain CEO on Global Gaming Outlook
  + stars: | 2023-10-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEntain CEO on Global Gaming OutlookEntain CEO Jette Nygaard-Andersen talks about the state of gaming.
Persons: Jette Nygaard, Andersen Organizations: Global Gaming
Roblox introduced Immersive Ads earlier this year with two initial formats. Image Ads are non-clickable static images that appear within a Roblox experience, while Portal Ads are images with a door that teleport users to other Roblox experiences and games. Roblox developers earn a portion of the revenue generated by Immersive Ads in the form of Robux, Roblox's in-game currency. Roblox has said it plans to open up the Immersive Ads self-service ad platform to more advertisers later this year. Alongside Immersive Ads, marketers can work with Roblox to create their own virtual experiences in the platform.
Persons: Stephanie Latham, Latham, Christina Wootton, Wootton, Roblox, Uber, Brent Koning, Nilesh Ashra, You've Organizations: NARS, Spotify, Nascar, Gucci, Brands, Netflix Locations: Meta, North America, Roblox's, Roblox, Sunsilk City
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 13 (Reuters) - Private equity giant Apollo Global Management (APO.N) is among the potential suitors seeking to acquire International Game Technology's (IGT.N) global gaming division, Bloomberg News reported on Wednesday. IGT's gaming unit could fetch $4 billion to $5 billion in a sale, including debt, the report said, citing people with knowledge of the matter. Apollo Global did not immediately respond to a Reuters' request for comment and IGT could not be reached for comment. UK-based IGT said in June that it was exploring strategic alternatives for its global gaming and PlayDigital segments, which includes, but is not limited to, a sale. Reporting by Jose Joseph in Bengaluru; Editing by Shailesh Kuber and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, IGT, Jose Joseph, Shailesh Kuber, Subhranshu Organizations: Game Technology PLC, New York Stock Exchange, REUTERS, Apollo Global Management, Bloomberg, Apollo, Thomson Locations: Bengaluru
Noodle maker Nissin says it has the answer: caffeinated Cup Noodles. “To meet this demand, Nissin Foods is launching a new ‘gamer-friendly’ product for the first time in its history from its flagship brands Cup Noodles and Nissin Curry Meshi.”The caffeinated noodles will come in two flavors: garlic and black pepper yakisoba — which contains shrimp, pork, egg and cabbage — and curry, which uses a base of pork and vegetables. “Without the contributions of Japan, we wouldn’t have a video game industry,” Blake J Harris, a video game expert and author of “Console Wars,” told CNN in 2017. And while Japan’s cultural clout waned in the early 2000s, its gaming market is still growing, generating revenues of $22.1 billion in 2021, according to Newzoo. Japan currently sits third globally in video game revenues, behind the United States and China.
Persons: Red Bull, Nissin, , Nissin Curry, Mario, ” Blake J Harris, Organizations: Tokyo CNN, Sega, CNN Locations: Asia, Japan, Tokyo, Newzoo, United States, China
A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru
HONG KONG, July 27 (Reuters) - China's video game player has grown to a record of 668 million, a government-run game industry association said on Thursday, as the world's biggest gaming market returns to growth after a bruising crackdown. "Against the backdrop of a sluggish global gaming market, China's gaming industry is gradually emerging from a trough and showing an upward trend," Zhang Yijun, a director at the CGIGC, told the conference. The crackdown wiped out significant revenue and market value for many domestic gaming giants including Tencent Holdings (0700.HK) and NetEase (9999.HK). However, gaming revenue has yet to return to a pre-crackdown level. "We remain confident about a steady domestic game approval process heading into (the second half of this year)," Yap wrote.
Persons: Zhang Yijun, , Alicia Yap, Yap, Josh Ye, Christian Schmollinger, Robert Birsel Organizations: Industry, Tencent Holdings, HK, Regulators, Citi Bank, Securities, Thomson Locations: HONG KONG, Shanghai, Hong Kong
Tripp Shriner is a managing partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund. Point72 Ventures is now actively looking for new fintech investments after what it said was "a quieter period"— it last invested in payment startup Pagos' $34 million Series A in February. "We're still early, getting toward the check-writing side of things," Tripp Shriner, managing partner and fintech investor at Point72 Ventures, told Insider. The investment themes lay the groundwork for where Point72 Ventures will spend its time and money in the coming months and years. Point72 Ventures' approach to AI is largely guided by how financial firms want to use the tech.
Persons: Tripp Shriner, Steve Cohen's, Fintechs, We're, Shriner, it's Organizations: Point72 Ventures, Point72, Mastercard Locations: fintech, KYC
Tripp Shriner is a partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund. "We're still early, getting toward the check-writing side of things," Tripp Shriner, partner and fintech investor at Point72 Ventures, told Insider. The investment themes lay the groundwork for where Point72 Ventures will spend its time and money in the coming months and years. Point72 Ventures' approach to AI is largely guided by how financial firms want to use the tech. However, success would depend on financial firms' willingness to adopt such a fundamental change.
Persons: Tripp Shriner, Steve Cohen's, Fintechs, We're, Shriner, it's Organizations: Point72 Ventures, Point72, Mastercard Locations: fintech, KYC
Explosive growth fueled by a growing game library and artificial intelligence integration could lift NetEase 's shares 38%, according to Bernstein. The firm initiated coverage of the video game developer Monday with an outperform rating and a $120 per share price target. Analyst Robin Zhu said NetEase will continue to reap profits from its existing wide-game library while adding generative AI functionality to its products. "We expect generative AI growth to represent a massive productivity boost for video game development, driving efficiency gains in game production, but also enabling richer gaming experiences — both in-game (e.g. "For all of GPT-4's considerable strengths, the complexity behind video gaming development and integrating a wide range of creative work streams into a single experience means we're skeptical generative AI can 'disrupt' video gaming anytime soon," he said.
Persons: Bernstein, Robin Zhu, NetEase, Zhu, Harry Potter, Michael Bloom Organizations: PC, Justice Mobile, Eggy Locations: China
Sega to acquire Angry Birds maker Rovio for $776 million
  + stars: | 2023-04-17 | by ( Jenni Reid | ) www.cnbc.com   time to read: +2 min
A model of Angry Birds character 'Red' sits on display inside the reception area of the Rovio Entertainment Oy headquarters in Espoo, Finland, on Thursday, Feb. 28, 2019. Japanese gaming giant Sega announced Monday it has made a 706 million euro ($776 million) offer for the maker of the Angry Birds puzzle game, Finland's Rovio Entertainment Oyj. Meanwhile its Angry Birds franchise has been licensed into other entertainment and consumer products. "Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been SEGA's long-term goal to accelerate its expansion in this field," said Sega Sammy's Group CEO, Haruki Satomi, in a statement. Angry Birds is "loved across the world," he said.
Angry Birds creator Rovio: Sega makes takeover bid
  + stars: | 2023-04-17 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
London CNN —Japan’s Sega, the company behind Sonic the Hedgehog, is buying Rovio Entertainment in a cash deal that values the creator of Angry Birds at €706 million ($774 million). The company’s prime asset, Angry Birds, which launched in 2009, became the first mobile game series to reach 1 billion downloads, according to Guinness World Records. People tour an Angry Birds theme park at its opening on July 9, 2016 in Tianjin, China. Feature China/Future Publishing/Getty ImagesThe story-based puzzle video game has players launching “Angry Birds” from a slingshot at a fortress containing pigs who stole their eggs. The company’s share price closed 4.2% down in Tokyo on Monday.
It's time for investors to bet on shares of MGM Resorts International , according to Barclays. Analyst Brandt Montour initiated coverage of the casino operator with an overweight rating, saying that shares should benefit from a recovery in Macao and continued strength in the Las Vegas market. MGM YTD mountain Shares have rise nearly 29% year to date MGM shares have surged nearly 29% after tumbling more than 25% in 2022. Compared to U.S. regional casinos, Montour expects Las Vegas to better weather a softening economy this year, which should bode well for MGM. MGM's "iGaming position is second to none, a business we are bullish on over the next 2-5 years," Montour said.
Chinese tech giant Tencent is ramping up its efforts to monetize its fast-growing short video function, and Morgan Stanley is bullish on that. Other key growth drivers Morgan Stanley said it believes global gaming will be another key growth driver for Tencent, though it will be a "much longer-term growth story." Another longer-term growth driver is Tencent's software-as-a-service products, namely Tencent Meeting, Tencent Docs and Tencent Cloud. "We believe it will take 2-3 more years for Tencent to reach breakeven in cloud businesses and for them to become a long-term growth driver," the bank said. Morgan Stanley has raised its price target on Tencent to 450 Hong Kong dollars ($57.30) from 420 Hong Kong dollars — an implied upside of about 20% to the stock's closing price on Feb. 13.
U.K. antitrust regulators said the proposed $75 billion acquisition of gaming giant Activision Blizzard Inc. by Microsoft Corp. would further consolidate what it called Microsoft’s strong position in cloud gaming and said a combination would hurt U.K. gamers, delivering another regulatory hurdle to the deal in a big global gaming marketplace. The country’s Competition and Markets Authority said it would ask both companies to propose ways to ease its concerns and set a final decision about whether to let the deal proceed for late April.
Walmart's launch of its virtual-reality experiments with global gaming platform Roblox is a "game-changing moment" for the retailer, according to Justin Lacche, a metaverse consultant. But, more importantly, the experiments will help Walmart connect with the younger consumers it wants to attract. About half — 45% — of Roblox users are under the age of 13. Roblox is not the metaverse, it's more of a gaming environment, but it is a stepping stone to the metaverse." Have you tried Walmart's metaverse experiments or have insights to share on the projects?
Commercial gaming revenue up 15% from last year
  + stars: | 2022-10-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommercial gaming revenue up 15% from last yearCNBC's Contessa Brewer joins 'TechCheck' live from the Global Gaming Expo to chat with Fanduel CEO Amy Howe about their possible sports betting partnership with ESPN.
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