CI Games continues to fall as new game ratings fail to improve

CI Games SE

16/10/2023 10:03

** Shares in Polish video game developer CI Games  CIG.WA  slump as much as
20%, slipping for the third day in a row, as ratings of its newest game "Lords
of the Fallen" did not improve over the weekend
    ** Since Thursday, when first ratings were available, the stock has lost
over 40%
    ** On Steam platform the game is rated "mixed" based on 7,861 user reviews
with 54% of reviews being positive 
    ** "The lack of significant improvement in player ratings over the weekend
does not bode well for further sales of the game. At the same time, we note that
such a large number of negative reviews may have translated into a high number
of refunds", Erste Group analyst Piotr Bogusz says
    ** "The declining players' interest is also indicated by the lack of
improvement in player peak on Steam," he adds and says that given the game's
"unsuccessful" launch the assumption of a return on the game's 200 mln zloty
budget will be "ambitious"
    ** Trigon DM analyst Kacper Kopron says that forecast of 1.5 million copies
of the game sold this year may be too ambitious
    ** The stock, down 16% by 0901 GMT, is on track for its worst day since
March 12, 2020, when it closed 21.7% lower    




 (Reporting by Adrianna Ebert)
 ((Adrianna.Ebert@thomsonreuters.com))