Embracer Group Loses Undisclosed $2 Billion Deal Amid "Challenging Year"

Story Highlights:

Embracer Group's quarterly financial results for January to March 2023 (its Q4) are now out, and they show growth in key areas such as net sales and operating profit margin, but it seems that the company's performance is falling short of expectations.

The comments do not reveal the other party in this failed deal, but the company describes it as a "grounbreaking strategic partnership agreement that would have set a new benchmark in the gaming industry".

The deal was for $2 billion in development revenue over six years, and Embracer says that it had a verbal commitment from the second party back in October 2022.

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News Information

Written By: Steven T. Wright

Category: Gaming

Tags: Embracer Industry Party Financial Million Results Company Deal Caused Billion 2023

Date Published: 24 May, 2023 (11 months ago)

Publish Time: 07:08 (GMT +8:00)

Language: English

Story Length: 502 words

Reading Time: 3 minutes read

Attachments: 1 Pictures

Story Rating: Rated #145 (out of 284 stories this day)

Estimated Value: $0.00

News Source URL: gamespot.com

Copyright: © GameSpot

Story ID: #817743

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