Best Buy CFO sees 'opportunity' in used games market [update]
Speculation among industry analysts has amplified surrounding the possible purchase of meganormous video game retailer GameStop by big box electronics/media retailer Best Buy. The Dow Jones Newswire (via the Wall Street Journal) followed up with Best Buy CFO Ryan Robinson recently, who, unsurprisingly, wouldn't directly comment.
He responds, however, by saying that his company hasn't been taking advantage of the used game market in the way some competitors are. "We've not developed the capability to the extent that other participants have," Robinson says, calling the used game business a "very margin-rich portion" of the game sales market, and adding, "there's opportunity in that business." Opportunity that Best Buy clearly saw fit enough to enterprise on with a foray into used games in 2005 and another this year -- heck, they even price match new game prices with used game ones every now and then.
Still, Best Buy outright purchasing GameStop would be a real stretch, says BloggingStocks.com. "There's no overlooking the roughly $4.2 billion it would cost to buy up Gamestop, and Best Buy doesn't have that much cash," the piece claims, saying Best Buy wouldn't see a return on the investment "any time soon." We've reached out to Best Buy for comment and have yet to hear back as of publication.
Update: A Best Buy representative got back to us with the stock, "We don't comment on rumors or speculation."
[Via Kotaku]
