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Take-Two Interactive Software Inc. (TTWO), headquartered in New York City, is a leading developer, marketer, and publisher of interactive entertainment for consumers globally. Founded in 1993, the company operates through its three wholly-owned labels: Rockstar Games, 2K, and Zynga.
Take-Two is renowned for its high-quality gaming franchises. Rockstar Games is best known for the Grand Theft Auto series, which has achieved unprecedented sales milestones, including reaching $1 billion in sales faster than any other entertainment release in history. 2K produces popular titles such as NBA 2K, Civilization, Borderlands, Bioshock, and XCOM. Zynga, a leader in the mobile gaming sector, offers widely-played titles like Farmville, Empires & Puzzles, and CSR Racing.
The company's innovative products are available across console systems, handheld gaming systems, and personal computers, including smartphones and tablets. These products are delivered through various channels including physical retail, digital downloads, online platforms, and cloud streaming services.
Take-Two's financial performance has been robust, characterized by record-breaking revenue, earnings, and cash flow. The company has set new standards within the entertainment industry, particularly during fiscal 2014, when digitally-delivered revenue reached its highest levels. Notable achievements include the success of Grand Theft Auto V, NBA 2K14, and Borderlands 2.
Take-Two continues to expand its portfolio and enhance its global footprint through strategic partnerships and acquisitions. The firm’s commitment to delivering immersive and innovative entertainment experiences keeps it at the forefront of the interactive entertainment industry.
Take-Two Interactive Software (TTWO) announced an underwritten public offering of $1 billion in Senior Notes. The offering includes $500 million of 5.000% Senior Notes due 2026 and $500 million of 4.950% Senior Notes due 2028. The net proceeds will be used to repay a $350 million term loan due June 21, 2023, with the remainder allocated for general corporate purposes, including repurchasing outstanding debt. Closing is expected on April 14, 2023, pending customary conditions. Major finance firms J.P. Morgan, Wells Fargo, BNP Paribas, and BofA Securities are managing the offering. This transaction is part of Take-Two's strategy to manage its capital structure effectively.
2K and the LEGO Group have announced the release of LEGO® 2K Drive, a new AAA driving adventure game, set to launch on May 19, 2023, worldwide. Developed by Visual Concepts, the game features a vast open world where players can build vehicles and compete in races. This title marks the beginning of a multi-title partnership between 2K and LEGO. Players can choose from three editions: Standard at $59.99, Awesome at $99.99, and Awesome Rivals at $119.99. Pre-orders are available now, with bonuses for early purchases.
2K has released the WWE® 2K23, with the Icon Edition and Deluxe Edition now available. Players can enjoy new features like WarGames, the “You Can’t Beat Me” 2K Showcase, and enhanced modes. The game includes 201 Superstars, including John Cena and Bad Bunny, who is featured in the Bad Bunny Bonus Pack. The Deluxe Edition is priced at
The Outer Worlds: Spacer’s Choice Edition has launched for Xbox Series X|S, PlayStation 5, and PC, offering significant upgrades such as enhanced lighting, dynamic 4K resolution, and a raised level cap to 99. Priced at
Kerbal Space Program 2 is now available in Early Access for
Heather Hazen has been promoted to Studio Head at Firaxis Games, known for the Civilization and XCOM franchises. With 22 years in the gaming industry, including a tenure at Epic Games, Hazen aims to enhance Firaxis's strategy games. This change comes as former Studio Head Steve Martin departs after over 25 years. The studio is currently developing the next Civilization game, with Ed Beach continuing as Creative Director. Notably, Jake Solomon, a key figure behind XCOM, is also leaving. The Civilization franchise has sold over 65 million copies to date.
Take-Two Interactive Software (NASDAQ:TTWO) reported a 56% increase in GAAP net revenue for Q3 FY2023, reaching $1.41 billion, driven by strong performance in titles like NBA 2K23 and Grand Theft Auto. Despite this growth, the company reported a GAAP net loss of $153.4 million or $0.91 per share, compared to a profit of $144.6 million in the previous year. Adjusted Unrestricted Operating Cash Flow was $122.9 million, down from $278.7 million last year. The company revised its fiscal year 2023 Net Bookings guidance to $5.2-$5.25 billion amidst challenging market conditions and is implementing cost reduction measures targeting over $50 million in savings.
2K has announced the upcoming release of WWE 2K23, set to launch on March 14, 2023, for multiple platforms including PS5, PS4, Xbox, and PC. The game features music star Bad Bunny, enhanced gameplay, and new modes such as WarGames. John Cena, celebrating his WWE 20th anniversary, graces the cover. Players can expect a deep roster of Superstars, including Roman Reigns and Brock Lesnar, alongside innovative features like the 2K Showcase and expanded MyGM and MyFACTION modes. Pre-order bonuses include exclusive content like the Bad Bunny Bonus Pack.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) plans to report its third-quarter fiscal results for 2023 on February 6, 2023, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results, accessible via phone or a live webcast. The company is a leading interactive entertainment developer and publisher, with products for consoles, PC, and mobile platforms, operating under renowned labels like Rockstar Games and Zynga.
The Minnesota Timberwolves have partnered with Wisdom Gaming to establish a new facility for their official esports team, T-Wolves Gaming, at Wisdom Gaming Studios in Mall of America, starting in 2023. This collaboration aims to blend traditional sports with esports, expanding T-Wolves Gaming's audience beyond basketball fans. The new space will feature exclusive Timberwolves merchandise and enhance player and fan interaction. Wisdom Gaming is a notable player in esports, providing comprehensive services for gaming events and community engagement.
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