Search results for Odin Q
Games & Commerce
Kakao Games posts Q1 operating loss of 25.5 billion won, prepares new titles including \'Odin Q\'
Kakao Games posted a first-quarter operating loss of 25.5 billion won as revenue fell due to declining sales from existing live games and a lack of new releases. Quarterly sales came to 82.9 billion won, down 33 percent from a year earlier and 16 percent from the previous quarter. PC online game revenue rose 4 percent to 27.9 billion won, while mobile game revenue fell 43 percent to 55.0 billion won.
Games & Commerce
Kakao Games holds meeting after change in largest shareholder; Han Sang-woo says current setup stays, new titles top priority
Kakao Games held its regular shareholders meeting shortly after disclosing a change in its largest shareholder to LAAA Investment under LY Corp (Line Yahoo). Shareholders approved all agenda items as proposed, including reappointing CEO Han Sang-woo, and cut the directors’ pay cap. Han said details on cooperation with LY would be discussed further and stressed that this year’s priority was launching new titles without major organisational changes.
Games & Commerce
Kakao Games to come under Line Yahoo\'s umbrella; three parties\' calculations
LY Corp (Line Yahoo) is set to take control of Kakao Games through its investment vehicle LAAA Investment, in a deal valued at about 300 billion won and targeted for completion in May. LAAA will buy existing shares and acquire new shares and convertible bonds, making it the largest shareholder while Kakao becomes No. 2. The deal is intertwined with Line Games\' financial strain, Kakao\'s group reshuffle and variables linked to a Lionheart Studio IPO.
