Take-Two Interactive Software - TTWO STOCK NEWS

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 $99.99 while the Icon Edition costs $119.99. Standard and Cross-Gen editions will launch on March 17, 2023, priced at $59.99 and $69.99 respectively.

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 $59.99, it is available for $47.99 until March 21, 2023. Existing owners of the base game and DLCs can upgrade for $9.99. This edition features improved AI, environment details, and overall better performance. It aims to provide both new and returning players an enriched experience in this celebrated RPG.

Kerbal Space Program 2 is now available in Early Access for $49.99 on platforms like Steam and Epic Games Store. This sequel to the original game, which sold over 5 million units, introduces new features including over 350 parts, enhanced visuals, and interactive tutorials. Upcoming updates will include colonies, interstellar travel, and multiplayer modes. The game aims to expand with future technologies and community feedback, laying a foundation for ongoing development. The partnership with Logitech G enhances the gaming experience through deeper immersion with their peripherals.

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.