EA loses billions in stock value after loot box debacles

By
EA loses billions in stock value after loot box debacles

Sometimes you gamble and win, sometimes you gamble and you lose. And sometimes you gamble, and you lose, and you really, really deserve it.

Loot boxes - gambling or not (we say "yeah, they kinda are"), they've certainly proven unpopular for EA. Not only has the implementation of loot boxes in Star Wars Battlefront 2 earned a stern talking to from Star Wars licenser Disney, but they've not played well with fans.

And now, the whole debacle has hit EA where it really hurts - in the wallet - with the company losing $US3 billion in stock value according to a report from CNBC (and which came to us via PC Gamer).

That drop takes 8.5 per cent off the company's value. The market is up overall by two percent, while other gaming companies are also gaining, rather than losing, value. Take Two, for instance, enjoyed a share increase of five per cent, which makes EA's loss even more stark.

And ongoing game sales for Battlefront 2 are not looking good, either.

"We were underwhelmed by sell-through for Star Wars: Battlefront II (EA) over the Black Friday weekend, which follows a controversial launch for the game," Stifel analyst Drew Crum wrote in a note to clients Sunday, as CNBC reports.

To be honest... yeah, EA kinda deserves this.

Copyright © Hyper Magazine. All rights reserved.
Tags:

Most Read Articles

Review: Sony Xperia XZ1

Review: Sony Xperia XZ1

Ex-Bioware writer David Gaider on representation in games

Ex-Bioware writer David Gaider on representation in games

Three ways to rip and digitise your DVD collection

Three ways to rip and digitise your DVD collection

YouTube to take on Spotify with YouTube Remix in 2018

YouTube to take on Spotify with YouTube Remix in 2018

Would you like to receive

Our Newsletter?