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.

May 24, 2023 . 10:33 AM

1 min read

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.