Sony Pictures Entertainment acquired the Game Show Network in 2019, and part of the purchase included a subsidiary called GSN Games. This division was assigned the task of developing online and mobile gambling games, including slots inspired by Wheel of Fortune. But, perhaps recognising the studio no longer fits its portfolio, the Japanese giant has offloaded the business to smartphone gaming giant Scopely as part of a deal valued at $1 billion.
According to The Hollywood Reporter, the transaction will be paid in a 50-50 split, which will see Sony receive a mix of cash and stock. This will make it a minority shareholder in Scopely – an interesting development considering it’s looking to break into the mobile sector with some of PlayStation’s more recognisable brands.
Sony bigwig Ravi Ahuja had the following to say about the buyout: “In meeting the Scopely team, we knew we found the right organisation to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction.”
[source hollywoodreporter.com]
Comments 27
Wow what a payday funded by literal exploitation. I’m sure all those suffering from crippling gambling addictions will really enjoy the projects paid for by this deal!
unlike Beavis and Butthead Sony doesn't like slots
@nessisonett your comment makes little sense. Sony has sold the subsidiary of the original company they bought in 2019. This subsidiary did deal with online gambling - not the core business of the parent company. What would you have preferred? Sony to double down and introduce loot boxes to GOW2 and future games instead?
@Sknarfm It’s like your comment started as one thing and then veered completely in another direction.
@nessisonett It's like you avoided the question. I'll edit and rephrase slightly for you: What would you have preferred? Sony to double down, keep the subsidiary company, and leverage their
expertise to introduce loot boxes to GOW2 and future games instead?
I mean cool but I don't care.
The only thing I took away from this article is that Sony owns Game Show Network.
Why the idea that people with a gambling addiction are buying a $500 console and a $60 game to get their kicks is naive
Real gambling is Free to install on their $79 Android phone... same place they got trained as kids playing mobile games.
@Agramonte i agree..when i was in my early 20's i used to manage an amusement arcade and the amount of people that gambled there was sincerely alarming..some of those people had seriously high paid jobs and they just frittered away their money..they just literally could not stop untill they had nothing..a lot of these poor souls had nothing so yes i cant see a serious gambler wasting his/hers/theirs time playing a gambling game on a ps5 when they can just play the slots on their phones for nowt (well not nowt but you get the gist)..i could no longer work in that enviroment as the misery you witnessed day in and out was troubling..
@Sknarfm That’s what’s called a strawman. I’m not even sure how to really address it. Like… they weren’t ever going to use this company to put lootboxes in God of War or anything else. That was never on the table.
@nessisonett i got your original comment and i get your sarcastic,cynical world view probably better than most as mine is pretty similar although you do convey yours much more eloquently than i do mainly because i cant be arsed to be that sophisticated or "deep" as on most here its just a simple exercise in futility..i fear your back and forth here is an exercise in madness and nothing is going to come of it..why explain yourself?
That sounds like… a good idea.
Not sure. Let’s just get some fake outrage going just in case.
😅
@nessisonett "I’m sure all those suffering from crippling gambling addictions will really enjoy the projects paid for by this deal!"
Who are you talking about here Sony or the company they sold the network to? I'm not sure who you are aiming your ire at. If it's Sony then those projects will be a good thing won't they?
Sony acquired GSN in 2019 for around $500 million and sold just a subsidiary GSN games in 2021 for $500 million in cash and $500 million in shares. Sounds like smart business!
Hopefully that cash will go into something more in line with our interests and less morally dubious!
It's WWE Champions time! I love it! I looooooove it! Is a mobile game addict.
I used to have a workmate back in 2000 who was totally fine, but when we went to the pub we never saw him, as he spent the WHOLE night on the fruit machine - as in from 6pm until closing.
God knows what he did at the weekend and I can't imagine what's he'd be like with gambling so available on smartphones now.
Between this, social media trolling and a window to hardcore porn in everyone's pocket, the world is not a better place, especially for the young.
Missed opportunity. They should have just traded it to Konami for all their IPs and a handful of Pachinko balls.
Maybe this is a good sign that Playstation aren't interested in gambling mechanics on mobile? I know it's probably wishful thinking but if the games they decide to put out on mobile are legitimate games at least that's a good thing.
Did Microsoft buy it???
Great for Sony's wallet but a bad move to keep shares on the company that will b feeding the addiction ,it's ok sony take a back seat while the addicts earn u money
@Bad-MuthaAdebisi haha Beavis and Butt-Head Do America! I was just reminiscing about this movie last night! lol fantastic comment 😁🙌
This reminded me of an old article from Push Square — "Sony Patented an eSports Betting System for PS5, PS4". I wonder if there are any correlation. Looks like Sony had a lot of tools to become a betting power house and chose not to take that path. I think it is for the best, so I salute Sony for that.
Good! Get rid of this "gaming company"...
But wait... if they were paid in stocks, doesn't that mean Sony still owns it, by virtue of owning Snopely? At least partially?
Someone help me out here.
I see what Sony did there, dipping some toes in the lake of gambling.
It almost feels like another stream of money if Scopely pops off.
@UnlimitedSevens they have partial ownership in as far as they'll earn dividends depending on how the business does. They'll have no control or influence in business strategy but as a significant shareholder I'm sure that company like any other will want to maximise profits to please the shareholders.
@UnlimitedSevens Sony have a minority share in the company
@marty8370
Ah, thanks!
@Futureshark Nonsense, not everyone an addict
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