GameStop Forms Partnership with FTX

Rhea-AI Summary

GameStop Corp. (NYSE: GME) has announced a partnership with FTX US to enhance its customer engagement in the digital asset marketplace. As part of this collaboration, GameStop will serve as FTX's preferred retail partner in the United States, introducing FTX gift cards in select stores and exploring new ecommerce and marketing initiatives. Financial details of the partnership were not disclosed, and the company warned that the partnership includes forward-looking statements and associated risks.

Positive

• Partnership with FTX US to access new digital asset markets.
• GameStop will be FTX's preferred retail partner in the U.S.
• Introduction of FTX gift cards in select GameStop stores.

Negative

• Financial terms of the partnership not disclosed, raising concerns about potential risks.
• Forward-looking statements highlight uncertainties that could affect future performance.

GRAPEVINE, Texas--(BUSINESS WIRE)-- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has entered into a partnership with FTX US (“FTX”). The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets. In addition to collaborating with FTX on new ecommerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores.

During the term of the partnership, GameStop will be FTX’s preferred retail partner in the United States.

The financial terms of the partnership are not being disclosed.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, forward-looking statements can be identified by the use of terms such as “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “pro forma,” “seeks,” “should,” “will” or similar expressions. These statements are only predictions based on current expectations and assumptions and involve known and unknown risks, uncertainties and other factors that may cause the Company or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. All forward-looking statements included in this press release are based upon information available as of the date of this press release, and GameStop undertakes no obligation to update or revise any of these forward-looking statements for any reason, whether as a result of new information, future events or otherwise, except as required by law. You should not place undue reliance on these forward-looking statements. The forward-looking statements involve a number of risks and uncertainties. Although GameStop believe that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. A number of factors could cause the Company’s actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in the Company’s most recent Annual Report on Form 10-K available at www.sec.gov and on the Company’s website at www.GameStop.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907006127/en/

GameStop Corp. Investor Relations

(817) 424-2001

ir@gamestop.com

Source: GameStop Corp.

FAQ

What is the partnership between GameStop and FTX US?

GameStop has partnered with FTX US to introduce its customers to digital asset marketplaces and will carry FTX gift cards in select stores.

What are the benefits of GameStop's partnership with FTX?

The partnership aims to enhance customer engagement and allows GameStop to be FTX's preferred retail partner in the United States.

What financial details were disclosed about the GameStop and FTX partnership?

The financial terms of the partnership have not been disclosed.

What risks are associated with GameStop's new partnership?

The press release includes forward-looking statements that highlight risks and uncertainties, indicating potential volatility in future performance.

When will FTX gift cards be available at GameStop?

FTX gift cards will be introduced in select GameStop stores, but a specific launch date has not been provided.