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Ubisoft cancels three games, slashes targets on worsening conditions

January 12, 2023
Source: cnbc.com cnbc.com
News Snapshot:
Tencent has increased its stake in French games maker Ubisoft, the company behind popular franchises like Assassin's Creed. But analysts said this has effectively closed the door on a full takeover of the company. Ubisoft canceled three unannounced games and slashed its full-year financial targets Wednesday, blaming "worsening macroeconomic conditions" that have plagued the video game industry. The French game publisher said it expects 2022 net bookings to come in at 725 million euros ($779.4 million), lower than an earlier target of 830 million euros. The company cited poor performance of its Mario + Rabbids Sparks of Hope and Just...
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