What You Missed This Week in Video Games

“Game On” is The Fly’s weekly recap of the stories powering up or beating down video game stocks.

NEW RELEASES: Among this week’s big releases is Nintendo’s (NTDOY) “Super Mario RPG,” a Nintendo Switch remake of the 1996 Super Nintendo title of the same name which releases November 17. Meanwhile, Sega’s (SGAMY) tactical role-playing game “Persona 5 Tactica” releases for PlayStation 5 (SONY), Xbox Series X/S (MSFT), Xbox One, PS4, Switch, and PC on November 17, while Ubisoft’s (UBSFY) virtual reality title “Assassin’s Creed Nexus VR” launches for the Meta Quest (META) on November 16. Additionally, the Nintendo Switch port of Warner Bros. Discovery’s (WBD) “Hogwarts Legacy,” a “Harry Potter” game that release earlier in 2023 on other platforms, releases November 14.

TAKE-TWO: Last week, Take-Two (TTWO) reported upbeat Q2 results with net bookings beating consensus estimates and adjusted EBITDA rising year-over-year during the period. Meanwhile, Take-Two reiterated its FY24 net bookings view, but lowered it adjusted EBITDA guidance for the year. Additionally, the game maker provided Q3 adjusted earnings per share and net bookings guidance that are currently below Wall Street expectations.

“Looking ahead, I am optimistic about our company’s multi-year growth trajectory and our ability to deliver long-term value for our shareholders,” said Take-Two chairman and CEO Strauss Zelnick. “Our development pipeline is robust and diverse, and we are getting closer to delivering the groundbreaking titles that our audiences throughout the world have been anticipating. With an unwavering commitment to being the most creative, the most innovative, and the most efficient entertainment company, I have great confidence that our offerings will surpass our players’ expectations and set new standards of creative excellence in our industry.”

Prior to the earnings release, Take-Two’s Rockstar Games confirmed that it will release the first trailer for the next “Grand Theft Auto” title in early December. “We are very excited to let you know that in early December, we will release the first trailer for the next Grand Theft Auto,” Rockstar co-founder Sam Houser said in a post on X, formerly Twitter. “We look forward to many more years of sharing these experiences with all of you.”

‘CALL OF DUTY’ TOPS U.K. BOXED CHARTS: Activision’s “Call of Duty: Modern Warfare 3” finished in first place in the U.K.’s boxed charts this week, pushing Nintendo’s “Super Mario Bros. Wonder” to third place, Gamesindustry.biz’s Sophie McEvoy (SONY) than it did on Xbox Series X/S, though boxed sales are 25% lower compared to last year’s “Call of Duty: Modern Warfare 2,” the author said. Meanwhile, Electronic Arts’ (EA) “EA Sports FC 24” ended the week in second place in the U.K., followed by Sony’s “Spider-Man 2” in fourth, McEvoy noted. Other top sellers in the U.K. for the week included Nintendo’s “Nintendo Switch Sports” and “Mario Kart 8 Deluxe,” Warner Bros. Discovery’s “Hogwarts Legacy,” and Ubisoft’s “Assassin’s Creed Mirage.”

‘ZELDA’ MOVIE: Last week, Nintendo announced that it will develop a live-action film of “The Legend of Zelda.” The film will be produced by Shigeru Miyamoto, Representative Director and Fellow of Nintendo and Avi Arad, Chairman of Arad Productions Inc., who has produced many mega hit films. The film will be produced by Nintendo and Arad Productions Inc., and directed by Wes Ball. The film will be co-financed by Nintendo and Sony Pictures Entertainment, with more than 50% financed by Nintendo. The theatrical distribution of the film will be done worldwide by Sony Pictures Entertainment.

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OTHER STORIES TO WATCH:

• In its quarterly report, Sony said that its Game & Network Services segment rose 32% year-over-year in Q2, noting an increase in hardware sales and sales of non-first-party titles, including add-on content (read more)
• Additionally, PS5 game “Marvel’s Spider-Man 2” has sold over 5M units since its October 20 release, according to developer Insomniac (read more)
• Google (GOOG) offered Epic Games $147M to release “Fortnite” on the Android store, The Verge reports(TCEHY) to sell its VR headsets, WSJ reports (read more)