Tobias Seck

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Engine Gaming and Media slims down operations and losses

Esports / Wednesday, November 30, 2022
Engine Gaming and Media underwent a radical diet to battle its burn rate. The Nasdaq- and Toronto Stock Exchange-listed company reported a $14.5 million net loss for its full fiscal year 2022, which ended August 31, 2022. In comparison to Engine Gaming and Media’s $40.7 million net...

Odds against Rivalry despite record revenue

Esports / Tuesday, November 29, 2022
Rivalry continues to burn investors’ funds despite reporting record revenue. The Canadian betting company reported a $4.41 million net loss for the three months period ended Sept. 30 and increased its total accumulated deficit to $42.69 million. Rivalry handled a betting volume of $51.8 million, with 90%...

Enthusiast Gaming focuses on revenue diversification in 2023

Esports / Tuesday, November 15, 2022
Canadian gaming and esports company Enthusiast Gaming offloaded $23.55 million in unrecoverable asset valuations as it prepares for anticipated, sustained profitability in 2023. Toronto-headquartered Enthusiast Gaming reported its financial results for the three-month period ended Sept. 30 today. Revenue diversification and a deal with the National...

Earnings analysis: Antitrust is still a worry for Microsoft

Esports / Friday, November 11, 2022
Three of the biggest publishers in esports and gaming -- Activision Blizzard , Electronic Arts and Take-Two Interactive -- reported earnings this week, and the takeaway is that despite Microsoft’s pending attempt to acquire Activision Blizzard, the least console-focused of the big video game...

NBA 2K23 remains a slam dunk for Take-Two Interactive

Esports / Wednesday, November 9, 2022
Basketball simulation franchise NBA 2K continues to be one of the largest revenue contributors in Take-Two Interactive’s portfolio. In its latest financial report, the New York City-based video game holding company shared some insights into its latest sports game releases: NBA 2K23 and PGA Tour 2K23...

Revenue down for Activision Blizzard in Q3

Closing Bell / Tuesday, November 8, 2022
Activision Blizzard tries to drag itself out of the  post-pandemic slump  with its holiday season launch of  Overwatch 2 and Call of Duty: Modern Warfare II . The Nasdaq-listed video game developer and publisher reported its financial results for the third quarter of 2022 on Monday, revealing reduced revenues...

European Commission opens investigation into Activision Blizzard acquisition

Esports / Tuesday, November 8, 2022
The European Commission has opened an in-depth investigation on the planned acquisition of Activision Blizzard by Microsoft under EU merger regulations, citing antitrust concerns. Today’s announcement by the EU department that is responsible for union policy on competition and for enforcing competition rules in cooperation with national...

EA earns almost $300 million on the backs of 600 million players

Esports / Wednesday, November 2, 2022
Electronic Arts (EA) entered another strong quarter in the books, earning $299 million during the three-month period ended Sept. 30. The Redwood City, Calif.-headquartered video game company’s EA Sports portfolio and multiplatform live services business were the catalysts for continued growth, according to EA’s Q3...