Midway financial woes hit Unreal Tournament III, BlackSite: Area 51

Midway Games released an official statement concerning its financial status and some of its most anticipated titles this holiday season. It seems that the delay for the PS3 build of Stranglehold (also on Xbox 360 and PC) is just the beginning as more titles are being pushed back.

First of all, Midway said that it is lowering the total expected sales for BlackSite: Area 51 because of “the adverse impact of the split shipment between the Xbox 360 and the PlayStation 3 systems.” There was no word, however, regarding the PC build of the next-gen FPS title.

Aside from that, the PlayStation 3 version of Unreal Entertainment III is also being pushed back to Q1 of 2008. The game was originally expected to ship to retail stores together with the PC build this November. Given these developments, we are uncertain if the timed PS3 exclusivity holds or both the PS3 and Xbox 360 build will ship together.

“While we regret that these delays will cause us to lose some valuable holiday sales in the near term as well as shift revenue for some of these titles out of 2007 and into 2008, we remain confident that our technology strategy and product plan position us to grow both revenue and market share,” said Midway Games CEO and President David F. Zucker.

Midway Games originally anticipated a US$ 225 million full year revenue at the end of this year. However, the company has now lowered its expectations to just US$ 170 million.

Midway Games released an official statement concerning its financial status and some of its most anticipated titles this holiday season. It seems that the delay for the PS3 build of Stranglehold (also on Xbox 360 and PC) is just the beginning as more titles are being pushed back.

First of all, Midway said that it is lowering the total expected sales for BlackSite: Area 51 because of “the adverse impact of the split shipment between the Xbox 360 and the PlayStation 3 systems.” There was no word, however, regarding the PC build of the next-gen FPS title.

Aside from that, the PlayStation 3 version of Unreal Entertainment III is also being pushed back to Q1 of 2008. The game was originally expected to ship to retail stores together with the PC build this November. Given these developments, we are uncertain if the timed PS3 exclusivity holds or both the PS3 and Xbox 360 build will ship together.

“While we regret that these delays will cause us to lose some valuable holiday sales in the near term as well as shift revenue for some of these titles out of 2007 and into 2008, we remain confident that our technology strategy and product plan position us to grow both revenue and market share,” said Midway Games CEO and President David F. Zucker.

Midway Games originally anticipated a US$ 225 million full year revenue at the end of this year. However, the company has now lowered its expectations to just US$ 170 million.