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☆ Hasbro beats second-quarter estimates, goes 'all in' on digital gaming segment
▼ + stars: | 2024-07-25 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

Toy company Hasbro beat Wall Street expectations for the second-quarter on Thursday, thanks in part to growth in its digital gaming segment. Though Hasbro's revenue declined 18% overall for the quarter, its Wizards of the Coast and digital gaming segment saw 20% revenue growth. Hasbro attributed the revenue increase for Wizards of the Coast and digital gaming to the launch of MAGIC's card game, Modern Horizons 3, and the continued impact of licensed and digital gaming, with Monopoly Go! CEO Chris Cocks said during the company's earnings call that it continues to invest in its digital gaming portfolio, highlighting the recent appointment of John Hight as president of Wizards of the Coast and digital gaming. The company estimates a total adjusted EBITDA for the full year of between $975 million and $1.025 billion.

Persons: Chris Cocks, John Hight, John, we're, " Cocks Organizations: Hasbro, Austin , Texas . Toy, LSEG, Wizards, Monopoly Locations: Austin , Texas

☆ Blizzard tells China’s ‘World of Warcraft’ fans to back up data as it seeks new partner
▼ + stars: | 2022-12-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —“World of Warcraft” fans in China will have to back up their playing history as the distributor of the hit game winds down its agreement with Blizzard Entertainment. Blizzard, a unit of Activision Blizzard (ATVI), and its longtime Chinese partner, gaming giant NetEase (NTES), said last month they would not renew licensing agreements that are set to expire in January. Those deals had covered the publication of several popular Blizzard titles in mainland China, including “World of Warcraft,” “Hearthstone,” and “Diablo III,” since 2008. NetEase told fans last month that their “World of Warcraft” data would be “sealed” after servers for the game are shut down in January. Collaboration on “Diablo Immortal” is under a separate agreement that will continue, NetEase said in a November statement.

☆ Blizzard seeks new partners to continue offering World of Warcraft in China
▼ + stars: | 2022-12-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Blizzard Entertainment is in talks with potential partners about continuing to offer its popular World of Warcraft title in China, as its deal with Chinese gaming giant NetEase is set to wind down. Blizzard said last month that it would discontinue services for World of Warcraft and other games in China from January 2023, after failing to renew its contract with NetEase. The deal, first signed in August 2008, allowed Blizzard to offer World of Warcraft in the country, where it has since become wildly popular. World of Warcraft is a massively multiplayer online game that sees players role play as their own characters, embark on various quests and battle monsters. High did not say whether Blizzard plans to seek alternative distribution partners for its other games in China, which include Hearthstone, Starcraft and Diablo III.

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