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Given its convenience and social aspects, multiplayer online gaming could continue its fast growth and transform the gaming industry away from the console model.
Fertitta remains interested in a possible combination with Caesars, but he hasn’t proposed one again. Investor Carl Icahn is pushing for a sale of Caesars after amassing a 10 percent stake plus an additional 10 percent economic interest through swaps, said a person familiar with the matter who asked not to be identified because it wasn’t public.
The game maker just closed the books on a solid year, but soft trends in player engagement spark significant changes and efforts to boost performance.
Tencent Holdings (OTC: TCEHY) is in talks to bring Electronic Arts Inc. (NASDAQ: EA)’s new U.S. hit "Apex Legends" to China, the South China Morning Post reported Friday. The move would give Tencent a video game distribution trifecta in China: the company already distributes "Fortnite" and PUBG Corp.’s "PlayerUnknown’s Battlegrounds." All three are “battle royale” games, which are the type of multiplayer online environments that are seen by observers as central to the future of the industry. The phenomenal early success of "Apex Legends" — it drew 25 million players its first week — has bolstered EA’s stock in recent days, bucking difficulties for the industry, which has seen stock volatility amid lackluster earnings reports.
Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Friday evening: The Walt Disney Co. : "You don't sell Disney, you stick with it for the long term.
The success of that game, the megapopular “Fortnite,” reflects the fast-changing nature of the entertainment complex. “Fortnite” is free to play but still has managed to rack up more than $2.4 billion in revenue from mostly in-game transactions since it launched in late 2017. The rub is that game publishers have become dependent on the relatively few properties capable of delivering a sustained stream of dollars.
After the stock pullback, our 7.3% five-year industry forecast is about 325 basis points or 1.75 times above the 4% five-year market-implied growth on our reverse analysis—as well as the developing story of Constellation’s significant investment in Canadian cannabis-products developer Canopy Growth. The maker and marketer of performance apparel and footwear delivered a low-quality fourth-quarter beat, with adjusted EPS of nine cents coming in ahead of our three-cent estimate and its consensus estimate at four cents. Gross margin expansion of some 160 basis points was also relatively in line with our estimate, reflecting mixed benefits (channel, region), lower product costs, lower promotions, and lower air freight.
Caesars has received at least two approaches from potential buyers, according to The Wall Street Journal.
Doug Clinton, managing partner at Loup Ventures, and Todd Hasleton, CNBC.com technology product editor, join "The Exchange" to discuss whether EA's Fortnite competitor, Apex Legends, is overhyped.