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Euro retailer Game expects greater profits thanks to 'buoyant' market
Things continue to look rosy for UK-based mega-retailer Game Group, as the company today announced that it raised its profit expectations for the year from £73 ($145 million) to £74 million ($147 million). Says the financial gurus at Bloomberg, the chain has much thanks to lay at the feet of Nintendo and its platforms' appeal to "women and older customers" for the elevated expectations. The group's like-for-like sales for the fifty weeks leading to January 12 were up around 43 percent while the company expects further growth of around 5 to 10 percent in the current year, driven by a "buoyant" video game market. Preliminary financial results are expected to drop on April 29, though given thin competition and what Game calls "a strong pipeline of innovative software," including such titles as Nintendo's Wii Fit and Mario Kart, as well as Rockstar's Grand Theft Auto IV, we expect those calling the shots for the retailer to remain swimming in the deep end of the money pool for a good while longer.
Euro retailer Game buys Gamestation for $150 million
The European game retail space just got a little less competitive. American movie rental giant Blockbuster announced today that it is selling its British Gamestation subsidiary to European mega-retailer Game Group PLC for $150 million (approx. £74 million). The move will increase Game's British footprint by over 200 stores and leave the chain as the largest games retailer in Europe by a sizable margin.The consolidation is reminiscent of the merger between Gamestop and EBGames a few years back that created a virtual monopoly on U.S. game retailers. There had been some speculation that GameStop would scoop up GameStation next, getting a larger toehold in the British market in the process, but that now seems to be a missed opportunity. "Instead of gaining traction in the market through an acquisition of Gamestation, GameStop allowed its key rival in the UK, Game Group, to create a greater barrier to entry in that market," analyst Michael Pachter said. "We are not optimistic that GameStop will be able to grow a grass roots presence in the UK for at least three years."
Offer for one free year of EGM ends today
"Free" offers on the internet often come with annoying trials and lengthy cancellation procedures, but this one here's legit -- it's actually running from the subscription web site of the publisher of EGM, Ziff Davis Media.You may have seen this offer for 12 free issues of Electronic Gaming Monthly on Joystiq or other game sites out there. Basically, what's happening is the Ziff Davis Game Group is running a subscription drive for the mag, sponsored by the World Cyber Games. Free subs are only on offer through today, however, so get a move on if you want a piece of the printed action.Of course, EGM may be no OPM, but it's helpful for even the healthiest fanboy to get a balanced diet of multiplatform news and information on a regular basis. Also, please note that you're under no obligation to sign up for the World Cyber Games page which follows the EGM subscription one, so you can absolutely get your free mag without registering with the WCG.[Via Joystiq]
