Midway turns to Out-of-Home to secure line of credit

Shaggy March 7, 2008 0

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The National Amusement Inc., operation has replaced the previous Wells Fargo Foothill agreement, to secure credit facilities for the crippled Midway consumer game operation. The $97.4 million loss during 2007 the worse admittance of failed policy by the once prominent publisher; the company will now focus on casual gaming for consoles and is expected top announcement major reconstruction. That this once prominent amusement corporation now turns to National Amusement (leading movie picture facility company with over 1,500 screens) – depending on the financial security of the movie house and amusement machine operator to secure consumer game business.

As for my personal thought on this – all I can say is how the mighty have fallen. Atari is in the same boat although they seem to be making a slight turn around (Atari/Infrogrames was not the arcade division – Atari Games was actually bought by Midway not long before Midway pulled out of the arcade business completely). I guess we’ll see if this does the same magic for Midway.

[Via GameIndustry.biz] [Discuss on the Forum]

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