Take-Two’s Financial Troubles Cause Delays
Sorry to be the bearer of bad news, but an upcoming Rockstar/Take-Two game for the PSP is going to be delayed. The publisher of Rockstar’s Grand Theft Auto series has received additional subpoenas seeking more information on its financial practices. This all relates back to the incident that was ‘Hot Coffee‘, an adult mini game included in GTA: San Andreas. The most recent subpoenas request documents regarding stock options and other equity based compensation from November 2001 to the present.
Take-Two said that they would delay their full third-quarter fiscal earnings report until the investigation has been completed. However, they did release a few statistics, including the fact that analysts’ prediction for net revenue in Q3 (ended July 31, 2006) was accurate, around $240 million, up from $169.9 million for the third quarter of fiscal 2005, but estimates for profit were too high.
Take-Two also said that a “Rockstar PSP title based on a premier brand” would be pushed back from its Q4 release date. However, Rockstar hasn’t announced the title yet which means Grand Theft Auto: Vice City Stories should be safe. Rumours flying around suggest that the game could be Red Dead Revolver. Lets just hope that the Vice City Stories release stays on schedule.
Sorry to be the bearer of bad news, but an upcoming Rockstar/Take-Two game for the PSP is going to be delayed. The publisher of Rockstar’s Grand Theft Auto series has received additional subpoenas seeking more information on its financial practices. This all relates back to the incident that was ‘Hot Coffee‘, an adult mini game included in GTA: San Andreas. The most recent subpoenas request documents regarding stock options and other equity based compensation from November 2001 to the present.
Take-Two said that they would delay their full third-quarter fiscal earnings report until the investigation has been completed. However, they did release a few statistics, including the fact that analysts’ prediction for net revenue in Q3 (ended July 31, 2006) was accurate, around $240 million, up from $169.9 million for the third quarter of fiscal 2005, but estimates for profit were too high.
Take-Two also said that a “Rockstar PSP title based on a premier brand” would be pushed back from its Q4 release date. However, Rockstar hasn’t announced the title yet which means Grand Theft Auto: Vice City Stories should be safe. Rumours flying around suggest that the game could be Red Dead Revolver. Lets just hope that the Vice City Stories release stays on schedule.
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