Games

Take-Two ‘Loves Being an Independent Organization’ Amid Rising Gambling Acquisitions

Like most other major gaming companies, Take-Two has been part of a recent spate of takeover activity across the industry. Zynga’s proposed acquisition is expected to be completed by the end of the month, and its Private Division label acquired Roll7 late last year. But what about Take-Two itself? Is it possible that, like major publisher Activision-Blizzard, it will be acquired by a larger gaming company?

That seems unlikely for now, based on CEO Strauss Zelnick’s comments in an interview ahead of today’s full-year and quarterly earnings release.

“We’re a public company and we’re here for the shareholders,” he told IGN. “Nevertheless, our track record of creating value as an independent company is pretty great, especially when you exclude the last three months. We believe there are many great times ahead and we like to be an independent organization. But that’s what we’re there for, the shareholders.”

Zelnick also provided some context for the publisher’s recent acquisitions of Zynga and Roll7. He acknowledged the reality of industry consolidation, particularly over the past six months. But he added that the surge in acquisitions across the industry wouldn’t change anything for Take-Two, whose growth he says has “always been largely organic” but was “populated with some selective acquisitions along the way.”

“We look for creative deals that bring us great intellectual property and great teams, and we will continue to do so in the future,” he said. “Without a doubt, the Zynga transaction is extremely significant for this company and we have a lot to do together to ensure we deliver the value and the focus will be largely on organic growth going forward. But that won’t stop us from continuing to make acquisitions that are selective and disciplined for Private Division and the rest of the business, including the mobile portion of the business.”

Screenshots of GTA 5 and GTA Online – PS5 and Xbox Series X/S

Zelnick also spoke to us about a few other topics, including the likelihood of Take-Two getting the FIFA license now that EA and FIFA have parted ways, and current fan frustration with the state of Red Dead Online.

Looking ahead, Take-Two plans 18 new releases in the coming fiscal year, including core titles The Quarry, Marvel’s Midnight Suns, NBA 2K23, WWE 2K23, PGA Tour 2K23 and Kerbal Space Program 2. Also coming are eight mobile games , a new sports title from 2K (probably his NFL arcade game), a new Private Division franchise, Tales from the Borderlands 2, and “a new iteration of a previously released title available for purchase.”

Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.

https://www.ign.com/articles/take-two-likes-being-independent-organization-increased-gaming-acquisition Take-Two ‘Loves Being an Independent Organization’ Amid Rising Gambling Acquisitions

Fry Electronics Team

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