Hedge fund billionaire Bill Ackman, of Pershing Square investments, has grabbed a US$1.1 billion stake in streaming pioneers Netflix.
Netflix’s stock price has almost halved from an October high of around US$700-a-share, after the company reported a slow-down in new subscribers.
But Ackman obviously believes the movie channel is seriously undervalued and is in it for the long haul.
Monolith Microsoft has made a massive play on the so-called Metaverse by buying Activision Blizzard—creators of “Call of Duty”, “Candy Crush” and World of Warcraft–in a US$68.7 billion all-cash transaction, making it the third-largest gaming company in the world behind Tencent and Sony.
A slap in the Facebook and bite of the Apple.
It Takes Two:
Interactive and mobile entertainment leader Take-Two is to merge with rival Zynga in a US$12.7 billion cash and stock transaction.
“Harry Potter” meets “Grand Theft Auto”. It’s going to be a thrilling ride.
House on Fire:
Aussie iGaming operator PlayUp, currently in dispute with their former USA CEO Dr. Laila Mintas, who allegedly threatened “to burn the house down”, have appointed professional financial fire-fighter Art Hamilton as their new CFO — while announcing a US$35 million investment from cryptocurrency exchange FTX.
It’s all hands to the hoses, as Dr. Mintas—buoyed by a recent legal ruling in her favour–ups her claim for “substantial” compensation in a Nevada court.
MK Stalin, Chief Minister of Tamil Nadu, has threatened to ban iGaming outright in the south Indian state, to “protect innocent people from the evils” of online gambling.
Internet betting functions in a murky grey zone in India because of an arcane definition of what constitutes “gambling”: When, for example, does a game of skill become a game of stakes?
Until the argument is settled, the country, population 1.2 billion, remains the betting industry’s last great-untapped market.
Speaking of untapped markets, China–India’s biggest rival in the population stakes, and another country where online betting is illegal– has cracked down on foreign flights into its real-world gambling entrepôt of Macau.
Amid continuing coronavirus paranoia, the former Portuguese colony is likely to soon lose its casino top spot to a resurgent Las Vegas.