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Industry could lose up to $50 million


Adriaan

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Now that's a lot of money! Especially if you are the one losing it. A few minutes ago Senior Editor of Gamespot, Curt Feldman, reported that the game industry could lose up to 50 million dollars!

One analyst's math? Starting with the numbers Take-Two put out yesterday--lowered guidance of about $40 million--and figuring that number to be 80 percent of the retail sales (assuming a markup of 20 percent), the analyst's estimate of lost retail sales could go as high as $50 million.

In another note the video game rental company Gamefly stated due to the game now being "Adults Only" they have suspended rentals and stopped buying the game. The Take 2 Interactive shares dropped earlier today, but gained again just before the closing bell. Interestingly since GTA: San Andreas got the AO sticker, alot of shareholders decided to sell their shares, 1000's being sold already. We'll keep you updated on the progress of this.

Link: Gamespot

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