Game Investors - GMG

Game Investors - GMG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Game Group GMG London Ordinary Share GB0007360158 ORD 5P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 2.39 00:00:00
Open Price Low Price High Price Close Price Previous Close
2.39 2.39
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vision88: no idea loganair but as finacial investor through thick and thin ,and a take over now occuring we the investors deserve some credit for all the hardships we and only we have suffered,suppliers are geting fully reinbursed with there profits, so it seems rather mean to give nothing at all to investors as with out them GMG could not have been in existence, i rest my case for the moment.
justthemoney: Well, well...the Board have pulled it fast and hard on the investors. If UK investors would just put up with the fact they've been robbed, the US chaps almost certainly wont. I wouldn't be surprised to see litigation suit against the Board for announcing that the shares are worthless, when they know very well that the company has assets in excess of the current liabilities. The market certainly didn't think so and has traded accordingly. I'm sure the Board have taken watertight legal advise before suspending the shares and it wont be easy to get anything from these crooks. Blueshore and other US investors may get something back for all shareholders. IMO, would like to see the crooks locked up more than my money back.
justthemoney: Well, well...the Board have pulled it fast and hard on the investors. If UK investors would just put up with the fact they've been robbed, the US chaps almost certainly wont. I wouldn't be surprised to see litigation suit against the Board for announcing that the shares are worthless, when they know very well that the company has assets in excess of the current liabilities. The market certainly didn't think so and has traded accordingly. I'm sure the Board have taken watertight legal advise before suspending the shares and it wont be easy to get anything from these crooks. Blueshore and other US investors may get something back for all shareholders. IMO, would like to see the crooks locked up more than my money back.
phil1969: The investors to feel sorry for are the ones left holding from much higher levels. New investors have had the opportunity to get out over the last 2 months with minimal losses compared with the losses long term investors were locked into. There has been enough coverage on GMG's plight to know the risks and trading GMG on this news made it very easy to make a short term profit. I sold 80% of my holding on Friday as too risky to hold over the weekend and didn't buy back in on Monday, the profit made trading GMG put cash in account and the 20% held were free. I'm sure most of the stock traded over the last 2 months has been along the same lines. Fingers crossed the new plan of action and streamlining will keep Game on the high street even if it is on a smaller scale. My heart felt wishes go out to all Game employees and there's still hope regardless of GMG's stock market position.
fctwente: from proactive investor site, sorry if before posted. I too am surprised that HMV is not rising more quickly. The anticipated demise of video games vendor Game Group (LON:GMG) has sparked interest in entertainment retailer HMV Group (LON:HMV), which today topped the list of the most searched for UK stocks on Google Finance. Investors monitored market reaction to yesterday's announcement from Game Group, which said it failed to source new products as discussions with its lenders and supplier continued, to see what this could mean for HMV. If the struggling group failed to secure more funding before the end of the month it could find itself unable to pay its rent bills and go into administration. On bulletin boards, investors were surprised that shares in HMV did not react to the update from Game, which lost more than half of its value in Monday's session. The posters speculated that HMV would pick up at least half of Game's market share if it does indeed go bust.
sir rational: BE People are talking about the industry needing Game ....BE As a distribution point if nothing else.BE However, I suspect people are talking out of their hats.BE Bid for the group is unlikely. Given the rapidity with which a move into administration can happen for retailers and the clear end date for any ongoing discussion given rent due, we would expect any party potentially interested in some of Game's assets would now prefer to wait and pick and choose the best of these.BE Ahe here's Singer.BE Following weekend press speculation GAME has today released a statement indicating that it remains in active discussions with its suppliers and that it continues to seek alternative sources of funding. It is also reviewing all of its assets in the UK and international territories. Management indicate that it remains uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company. A stark indication of just how serious the situation is right now. The weekend press indicates that the Board has just two weeks to save the company as the quarterly rent bill is due at the end of March and a rapid sale process has started. Administrators have also been lined up should a buyer not be found. We retain our Sell rating and would advise investors to realise value now rather than face loosing out to a potential administration.BE Our estimates and target price remain under review. The consumer franchise is being damaged by not being able to fulfil delivery of key titles and so competitors have a major opportunity to win further market share, even on titles where Game does secure supply. Today's statement regarding the uncertainty that any of the solutions being explored will be successful or will result in any value being attributed to the shares of the Company. This is a stark indication of just how serious the situation is right now and the shares are likely to come under further pressure today. We retain our Sell rating and would advise investors to realise value now rather than face loosing out to a potential administration.BE Let's be honest, if Rothschild find a rescuer for this it'll be a miracle.PM indeed
bark02: Game Group warns investors as shares collapse Rupert Neate, Monday 12 March 2012 10.41 GMT Game Group shares, which have already lost more than 95% of their value over the past year, crashed a further 65% this morning Game Group, the computer game retailer that is unable to sell keenly awaited new games including Mass Effect 3, Mario Party 9 and Street Fighter X Tekken, has officially warned investors that it is on the brink of collapse. The company said it had put itself up for sale but warned that "it is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attributed to the shares of the company." Game desperately needs cash before the end of the month to pay its quarterly rent bill. If it fails to pay up it could be pushed into administration, putting 10,000 jobs at risk and wiping out any shareholder value. Ian Shepherd, the chief executive, has told senior staff to brace themselves for administration, according to trade magazine MCV. Analysts warned that Game has to "take radical action in a precipitously evolving situation". The company has appointed investment bank Rothschild to find a buyer, but it is likely to be difficult to find one before the looming deadline. Game's Spanish arm could attract the attention of US rival Gamestop, but its British, French and Australian divisions may be sold through a controversial pre-pack administration. Deloitte has already been in discussions with the firm about how to handle an insolvency. Game has 1,270 stores in nine European markets and Australia. The shares, which have already lost more than 95% of their value over the past year, crashed a further 65% this morning to 1.2p, valuing the company at just £4.2m. The company has become somewhat of a laughing stock in the computer game world after it was forced to tell its customers to go elsewhere to buy the latest and most popular games after suppliers withdrew their support. Electronic Arts, the publisher of Mass Effect 3, and Capcom, the Californian company behind Street Fighter X Tekken and the Resident Evil games, have refused to supply Game stores with their forthcoming games overs fear they will not be able to reclaim the stock if the company goes bust. Nintendo has also refused to allow Game to sell its latest hit Mario Party 9. The company conceded it is involved in "ongoing discussions" with other suppliers also threatening to pull out. Customers have taken to industry blogs, including Eurogamer, to offer the company their advice. "GAME please remember that you will need to stock some games," said jrc1985. Vibroguy added: "I think it would be easier if you just listed what GAME is actually stocking :)." In the glossy brochure sent to shareholders following its interim results, Game boasts: "Our vision is to be our customers' first choice for all of their gaming needs." Game's woes have largely been caused by its failure to keep up with fast-moving internet retailers and supermarkets, who often sold titles as loss leaders to tempt people in to buy less popular older games. The industry is also moving away from physical games to rapidly growing, and highly profitable, digital downloads. Instead of splashing out £40 on a video game CD for a £200 console, increasing numbers of consumers opt for 69p smartphone apps such as Angry Birds. The launch of the new Wii U this year, and the mooted launch of an updated Microsoft Xbox 360 next year, should provide a fillip to the physical video games market. Game is still in talks with its lenders, led by Royal Bank of Scotland, which are allowing it to continue to trade after a renegotitation of its debts. Peter Smedley, an analyst at Charles Stanley, said: "Barely five weeks since GAME secured a lifeline from its lenders in return for commitment to an updated strategic plan, GAME today confirms speculation in the weekend press of how perilous GAME's financial position has now become. Imminent collapse into administration is now a real possibility. "The IMS [interim management statement] warns that the solutions being explored may not lead to any equity value left. There is simply too much uncertainty and considerable risk in a highly fluid situation for equity investors to become involved. We put our recommendation under review, with a view to suspending coverage. "GAME's financial position [it has debts of about £70m] highlighted in the February 3 2012 IMS has become crushingly more pressing than was apparent. That has dramatically foreshortened the time GAME has had to take radical action in a precipitously evolving situation." Read more: CLICK HERE
flyinglemming2: Gamestop has around 5 times more stores than GAME around the world and they seem to be doing fine with "excess cash" from sales. US retailer GameStop has paid its first ever dividend to investors, having cleared the last of its debts with a successful holiday period at the end of 2011. The chain raised $3 billion in sales from that quarter, enabling the board to reward shareholders for their faith with a dividend of 15 cents per share, payable on March 12, 2012. "We have achieved our goal of eliminating debt and are pleased to return excess cash to our shareholders," said GameStop's executive chairman, Dan DeMatteo. "The board's decision to initiate a dividend reflects GameStop's strong capital position and demonstrates our confidence in the long term viability of our business." The group cleared its last debts on December 16, 2011 and shows continued growth across its businesses, which include game portal and Game Informer magazine alongside its 6,627 stores worldwide. GameStop's fair fortunes are a stark contrast to those of UK retailer the GAME Group, which has been forced to seek a buyer for its foreign holdings in an attempt to stabilise finances.
marab: EDIT thanks to gregpants I have now discovered why some non blue posters could post to the BOB thread and others couldn't. If you search through the PBB button only blues can post, but if you search from the FREE BB non blues can post. Apologies for the inconvenience. I have started a new thread to help investors decide which online broker to use and I would be grateful for any advice posters might have in that respect. Some of you have been trading shares for years and have probably tried most of the available sites, so I hope you will share your opinions and help other investors find the best online broker. I will be posting this on a few threads, because if no-one knows about it it ain't going to achieve much, so if it annoys you please say so on the HAM thread. BOB – Best Online Brokers -
hope67: Thanks to Squidvisious who posted this on iii Last week GAME revealed its poor Christmas financials, with UK and Ireland retail sales down 17.6 per cent over the festive period. We speak to CEO Ian Shepherd about the state of the market and how the Group can turn its fortunes around. Q1) So what went wrong? A1) The video games market was very weak all the way through 2011, and it was a weak market over the Christmas and immediately the post-Christmas period as well. And there's no avoiding the impact of a market being double digital negative on a retail business like ourselves. I am very proud of what the people in our teams all around the world achieved. Because, although not enough people came out to buy video games, when they did come out to buy video games, they came to buy them from us. And the evidence of that is our market share grew strongly year-over-year. So in a very difficult and very challenging market place, I think our people in our stores and operating our web business did a terrific job of making us the customers' first choice. It is just unfortunate that that doesn't translate into great overall results when you are working in such a challenging economy. Q2) Is there a lack of innovation in the market? A2) We work with all of the platforms and the publishers and the developers really, really closely. In fact, usually months and month in advance we would have been working with our partners to make sure that we make their launches as strong as possible. We are very much in the middle of the games industry's planning and the way it brings things to the market place. When I look at 2011, I think there were a lot of great titles that came to market. So overall, the weakness in the overall numbers was yes, partly driven by the wider economy and issues of consumer confidence, but obviously also it was driven by where we are in the hardware cycle. So the games hardware market was much more negative than the games software market. I think that tells you that the industry and the consumer is ready for more innovation in that space. But look at the way the industry organises and manages itself, obviously as a retailer we would like key titles to be slightly more spread out through the year than they were. But in terms of the kind of things that came to market and the level of professionalism that publishers and platforms showed in the way they brought those things to market, I was, as I always am, really impressed. This is a strong industry full of good marketers. Q3) You've mentioned the congested schedule before. It was a long summer between LA Noire and Deus Ex last year. A3) The increasing concentration around the key launch period, I think people will probably learn some lessons from that. But I don't think that is the big issue. I think the big issue was the customers' desire for hardware innovation, for product innovation, and obviously a weak overall economy. The net result was the games market in aggregate, in the UK and in other European territories as well, was significantly smaller in 2011 than it was in 2010. That just makes it very hard work for everybody. But what I am keen to emphasise here, is that in a difficult market, the best you can hope to do is to win market share. And the fact that we won market share in 2011, whilst that doesn't change the overall results, it is something that our teams should be very proud of. Q4) Much of the media has focused on the fact you might need to rely on lender support having suffered a worse-than-expected sales performance. Do you think that reporting has been fair? A4) I just come back to the facts of the situation. We are a very pragmatic and open company. We have made our strategy very clear since we laid it out at the beginning of last year. We have been very clear about what we are doing with the business. And we have a group of banks that support our business and joined us at the same time that I laid the strategy out at the beginning of 2011. We refinanced the business then, and essentially those banks were saying: 'We understand your strategy, we believe that that's the right thing to do with this business, and therefore we are going to support you.' All that has changed since then is that 2011 has ended up being a weaker market than either we or the banks expected when we set out on the journey. We have clearly got to be keeping talking to the banks and making sure that we have a financial arrangement with them that reflects how tough things are at the moment, but also which continues to allows us to invest in the areas of strategic growth that we want to create. And that dialogue is on-going. It is a perfectly normal thing. And is something we wanted to be open with everybody about. It is easy to write an apocalyptic headline. But the reality is what you see here is a business that has good relationships with its investors and its banks, with a very clearly articulated strategy, in a very difficult market, with a bunch of people rolling their sleeves up and getting on with the job. Q5) Is there a need to do anything to appease your shareholders and lenders? Selling any parts of your business or perhaps accelerating your digital plans? A5) In any market as vibrant and fast-changing as the video games market, you have got to be flexible, you have got to be nimble, and we will be both of those things. We will be very careful in making sure we invest our money in areas that our strategy says we should, where there is a return to be made, across the balance of this year. I think 2012 will also be a difficult and challenging environment in which to trade. I don't think the consumer economy is suddenly going to turn around anytime soon. And so we will be very careful. But fundamentally the wider context is, we have a clear vision about where we are taking this business. And when I talk to investors and banks, I hear a great deal of support for that strategy. Q6) So there's no real need to close more stores or sell anything? A6) We have always proved ourselves to be very careful with other people's money. Whether that is investors or lenders. So we have been gradually re-engineering this business, we have reduced the number of stores that we have in the UK already, last year and the year before and we have been very clear about the fact that programme will continue this year. We have taken other operating costs out of our business over the course of the last year and I have no doubt that we will need to continue to find ways to be more efficient, to do things faster. So I am absolutely not saying nothing will change, but what I am saying is that it will be the same sort of change that we have been working through really for the last year since we laid our strategy out, which is that we want to make sure when we spend money we spend it on areas which are changing and improving the GAME Group and taking us towards our strategic vision. Q7) Is hardware the big thing to drive your business this year and the next? A7) If you look at the video games industry over a long period of time you can see that all of the games market – but particularly the home console market – is a very cyclical one. Innovation in hardware is driven by a generational change from one set of consoles to the next. Whenever I see the platforms bringing new hardware to market, that excites me. Whether it is in the handheld space with 3DS last year and Vita coming up, or whether in the home space with Wii U coming later in 2012. All of that is good for the consumer and will excite the consumer in coming back to the video games market again. There is no doubt, and history teaches us this, that changes and innovation in technology brings the games industry back to growth. Q8) Are you looking to E3 for some big announcements in this space? A8) Obviously E3 every year is a critical determinant of what both key trading and also the following year is going to bring. It is a very important event and I am really looking forward to it. In terms of further bits of new hardware coming to market, I will wait and see. Our focus in the short term is getting ourselves ready to do a cracking job on selling the ones that have already been announced. I am sure we hear story and counter-story a million times between now and E3. I am not going to get involved in speculating. I am just going to wait and see what people have to say. Q9) HMV is scaling back its presence in games. What's your take on this? Why is one specialist High Street retailer telling the world games isn't worth it, while you're telling us it is in growth? What's the difference? A9) Let me preface the answer by saying that I never talk about someone else' business, I will only talk about my own. There is no doubt that the video games market in the UK is extraordinarily competitive, it is a very difficult place to win customers and therefore to make money. So when I see people back away from the games market in some senses, I am not surprised. For us, the games industry in the UK is still a big one, there is a lot of money spent from customers, so our starting point is that when people choose to buy games they choose to buy them from us. Our job has got to be to hold and grow our market share, which is what we did during 2011. Q10) Is losing some of this competition damaging to the retail sector or does it help it? A10) I don't wish any ill to any other retailer on the High Street. We are all having a hard time and we all need to do whatever we can to make ourselves the customers' first choice destination on the products that we sell. I am not going to wish ill to anybody on the High Street. Q11) Elder Scrolls V: Skyrim was Xmas No.1. Is it fair to say that that we because of GAME and your price cut? A11) Fundamentally Elder Scrolls got to No.1 because it is an incredibly good game. It is however a very good example. We had planned the launch and the Christmas campaign for Elder Scrolls with Bethesda for a very long time before the game even came out. It was a very close partnership over months and months. What we certainly did do was execute a number of stages of our marketing campaign with that game with very close partnership with the publisher. We were delighted with its success and delighted to have played a small part in it. Fundamentally it all comes down to the quality of the game. But the fact that we were able to play a role in that, and the evidence of the role we played is that we took very, very high market share on that title. We were very pleased. Q12) Do you have this high-level of partnership with all the publishers? Or are you looking for a bit more from them? Do you need more to start behaving like Bethesda? A12) No. Elder Scrolls was a hallmark of how we work. We are a specialist retailer so we know and love the video games industry, and we know and work very closely with everybody in it. When you look at what we have done over 2011, and this is not an interview in which to sound triumphant, we've had a bad year financially. but if you look at the good year that we had from our market share point-of-view, with a whole array of really well executed midnight openings, with a whole array of promotions on games, exclusive content and variants of games, the co-operative marketing we have done with publishers from all across the industry. That is testament to the fact that we take our relationships with our partners in the industry very seriously. Without them we are nothing. And without us I think the video games industry would be a very different and much smaller place. We support each other and we have done a very good job of it over the last year. Q13) Midnight openings is a sign of how buoyant the games industry is in many ways. You don't get that excitement in DVD or music. A13) That is a big part of what we do and it is a good example. You don't do those sort of things unless you are working in very close partnership with the publishers and developers. Right down to working level, the relationship between the publishers' field teams and the guys in our stores is a very close and a very positive one. We are absolutely integrated into the video games industry and we want to stay that way. Q14) One analyst [Philip Dorgan of Panmure Gordon] seems to think that it is online retailers and supermarkets that will benefit the most from a new hardware launch. Is that correct? A14) I think that defies any reading of video games industry history. When new consoles and hardware comes to market, customers want to hear about them early, they want to preview them, they want to hold them and touch them, they want to talk about them, often they want to put pre-orders down on them, and they want to bring back their old ones and trade them in. All of that lends itself to the model of the specialist retailer. So historically we have always done extremely well when innovation has come to market and I expect to do the same when innovation comes to market this year and beyond.
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