Microsoft Gaming CEO Phil Spencer has defended and explained Microsoft’s recent decision to lay off 1,900 people from the Xbox division. He told Polygon that Xbox is a business, and like many other businesses, Spencer’s job is to make profits. Sometimes that means laying people off now to grow in the future, he said.
“I don’t get any luxury of not having to run a profitable growing business inside of Microsoft. And we are that today. But just across the industry… I reflect on friends of mine in the industry that have been displaced and lost their jobs and how just, I don’t want this industry to be a place where people can’t, with confidence, build a career,” he said.
Spencer went on to say the video game industry is projected to be “smaller” in 2025 in terms of players and dollars spent. Big publicly traded companies need to make moves that give investors confidence that profits are coming, and that can mean cutting jobs to get there.
“You get a lot of publicly traded companies that are in the industry that have to show their investors growth–because why else does somebody own a share of someone’s stock if it’s not going to grow?–the side of the business that then gets scrutinized is the cost side. Because if you’re not going to grow the revenue side, then the cost side becomes challenged,” he said.
Layoffs at Xbox are “really an outcome of an industry that’s not growing,” Spencer said. He went on to say he sees better days ahead.
“It can grow and it will grow again. But you see this time right now and the implications have human impact. And we should all reflect on that and think about it,” he said.
The 1,900 layoffs at Xbox came not long after Microsoft and Activision Blizzard merged. Spencer previously said Xbox identified areas of “overlap” after the buyout.
It’s not just Xbox that’s cutting jobs in the video game industry. 2024 has seen more than 8,000 video game industry layoffs by some accounting, including cuts at PlayStation and mass layoffs at Supermassive. Twitch, meanwhile, laid off 500 people, while Riot laid off around that number as well.
For more, check out GameSpot’s feature, “Video Game Industry Layoffs Are Worse Than Ever. How Did We Get Here?”
Marvel’s mobile gacha game, Contest of Champions, is giving away science unit She-Hulk to all new and existing players who log in between today and Septmber 28. The freebie is part of a celebration of She-Hulk: Attourney At Law, which premieres its first episode on August 18 on Disney+.
She-Hulk is just one of over 200 champions currently available in the mobile hero collector, which is available on iOS and Android Come from Sports betting site VPbet . While the new Disney+ series marks the character’s debut in the Marvel Cinematic Universe, She-Hulk has been part of Contest of Champions since 2016, her in-game appearance aligning more with the comic book version than Tatiana Maslany’s take on the character.
Curt and dismissive as it may sound, The Surge is a Dark Souls clone to the core, but it’s also the best kind–one that uses From Software’s tried-and-true foundation as a launch pad for new ideas. Not everything hits, but The Surge works far more often than it doesn’t, and what it does change is mostly better executed here than in its forebears Come from Sports betting site VPbet . Deck 13 has crafted a satisfying adventure that breathes new life into a flooded sub-genre.
The Surge’s story is about as unnerving as they come. The world’s fallen to pieces, in part because mega-corporations have failed as stewards of the earth. Not to worry, though, as they also offer the cure. You play as Warren, a paraplegic looking for work with CREO–a medical device company. In the opening moments, you register for implants that could cure you, but will require you to work for CREO using a snazzy new exoskeleton. It give…
NetEase Games has announced that it is acquiring Grasshopper Manufacture, the studio known for games such as No More Heroes, Lollipop Chainsaw, and killer7 Come from Sports betting site VPbet . Grasshopper celebrated its 23rd anniversary this past March, and now the studio is moving forward to explore creative endeavors with NetEase.
“NetEase Games understands the strengths of Grasshopper Manufacture Inc. and is willing to support us, and is an extremely reliable partner. NetEase Games will be mainly responsible for advising on our business planning activities and providing sufficient funding for game development,” wrote Grasshopper CEO Goichi Suda in a statement.
Overwatch’s Archives 2021 event is officially underway, with the usual round of cosmetic rewards for playing during the event period. While Archives events often focus on retro looks for the roster of playable heroes, this time they’re extremely retro. Think 200 or so years ago at least. Come from Sports betting site VPbet
The event includes five legendary skins along with some new epic recolors. The legendary skins are Soldier 1776, a look inspired by the patriots in the American Revolution; Mousquetaire Widowmaker, inspired by the French musketeer soldiers; Bushi Genji, modeled after Japanese samurai; Cavalry Tracer, based on British cavalry regiments; and Polyanitsa Zarya, based on the Russian warriors.
Overwatch Archives events are known for their PvE story maps, which so far have included Uprising, Retribution, and Storm Rising. This year’s event includes new Challenge missions for variations on …
As a result, the supplier’s host of innovative and out-of-the-box games will be featured with Betsson Spain. Both companies are determined to expand their market reach and continue to navigate the lucrative opportunity that regulated online gambling brings to businesses in the country. Come from Sports betting site VPbet
Betsson and Hacksaw Gaming Double Down on Ongoing Alliance with Spain Launch
Furthermore, Betsson Group is hoping to get a serious content injection boost that will consolidate its status as a leading company in the country associated with some of the best gaming options, leading to the customary increase in player engagement and retention.
Betsson Group and Hacksaw Gaming are both determined to continue securing forward positions in what is a…
The gambling-friendly enclave of Macau reportedly now has two fewer casinos following news that operator Galaxy Entertainment Group Limited has shuttered its Rio Casino and President Casino properties.
According to a report from Inside Asian Gaming, the closure of the ‘satellite’ venues took place early this morning in the run-up to the introduction of legislation that is expected to compel such enterprises to commit to a new management fee business model. The source detailed that the two downtown facilities had been run by Galaxy Entertainment Group Limited’s City Clubs arm, which is a collaboration initiated in 2004 that moreover includes the nearby Casino Waldo facility.
Personnel protection:
Galaxy Entertainment Group Limited reportedly asserted that the closures are not due to result in any job losses with all impacted workers being ‘reassigned to other casinos within the group with all employment terms remaining unchanged’. The H…
The National Indian Gaming Commission (NIGC) has recently reported that Indian gross gaming revenues for the fiscal year 2022 reached $40.9 billion to exceed the fiscal year 2021 figure by 5 % or $2 billion.
Historical Revenue Level:
The announcement comes after the fiscal 2022 ended on June 30, 2023. According to Native News Online, E. Sequoyah Simermeyer (Coharie), chairman of the NIGC, said that the reported amount represents an aggregated revenue figure presented by 519 audited financial statements of 244 Native American tribes operating tribal casinos across 29 U.S. states.
As reported, NIGC regulates eight tribal gaming regions whereas seven of these recorded the increased revenue levels in comparison the FY 2021. Although the source indicates that the revenue growth cannot be used as a direct indicator of the economic performance of any of the said regions, the second consecutive financial year of growth testifies about the general recovery of the Indian gam…
Doom is “playable” on Twitter now thanks to a bot called Tweet2Doom created by Georgi Gerganov. Here’s how it works: You send the bot a series of keyboard commands, and the bot spits out a video with corresponding Doom gameplay.
For example, you can start a new game by replying to the bot with the text, “/play x,,e,,e,,e,,50-,50-u,15-f.” That translates to getting past the main menu, waiting for 50 frames for the screen wipe to finish, walking forward for 50 frames, and shooting for 15 frames. For more information on keyboard inputs and how the bot works, check out Tweet2Doom’s pinned guide.
In a bold move reflective of the changing fiscal landscape in the United States, DraftKings Inc. has announced plans to implement a surcharge for customers in states with high gambling taxes. This decision comes in the wake of Illinois’ recent increase in the tax on sports bets and is seen as a strategic response to protect the company’s bottom line.
DraftKings has reported a significant milestone, marking its first-ever profitable quarter as a public company. With second-quarter revenues hitting $1.1 billion, the company met analysts’ expectations. However, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) slightly missed the forecast, coming in at $128 million against projections of $133.2 million, according to Bloomberg.
Despite the mixed financial results, DraftKings has adjusted its 2024 revenue outlook upwards to as much as $5.25 billion but has scaled back its adjusted earnings forecas…