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Embracer’s shares plummet after $2bn partnership deal evaporates

Embracer's share price plunges as a $2bn partnership deal falls through, leading to slashed forecasts. Challenging year for the Nordic gaming group due to delays and weak demand.

  • Embracer's share price plummets after a $2bn partnership deal falls through.
  • The Nordic gaming group slashes its forecast for the year, now expecting to generate SKr7bn to SKr9bn in adjusted earnings.
  • Embracer recently warned on profit for the year to March 2023 and signalled delays in closing some licensing deals.
  • The chief executive Lars Wingefors said the year has been challenging due to game delays, weaker consumer demand and lacklustre reception for certain notable releases.
  • The strategic partnership deal, which could have generated $2bn in revenue over six years and set a new benchmark for the industry, was terminated late on Tuesday.
Embracer’s shares plummet after $2bn partnership deal evaporates
Swedish gaming group slashes forecast for the year as hopes for partnership are dashed