Embracer Group, the Swedish gaming giant, has commented on the state of the world and how economic, geopolitical, and social issues could negatively affect the company's business outlook. The company says it will conduct a business review, with one possible outcome being to spin off some of its many subsidiaries and take advantage of a Swedish tax law provision in the process.
In a section of its latest earnings briefing titled "Turbulent Times Create New Opportunities," CEO Lars Wingefors said he remains confident in the company's "decentralized operating model" with teams and studios spread around the world. However, he spoke candidly about how things could go south.
"The world has changed for the worse in many areas, becoming darker in recent months. We need to adapt to the challenges of geopolitical and social issues around the world and the new macroeconomic reality," he said, noting that the increased cost of capital will impact Embracer's business.Continue Reading at GameSpot
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