In a sudden move, Take-Two Interactive is projecting a loss for its fiscal year. As a result, one if its flagship titles for 2012 – Max Payne 3 – has been delayed.
The release period for the video game industry is relatively quiet this first quarter, so news of delays for flagship titles is unfortunate. Today, developer Rockstar has now announced the title will be launching in May this year.
While surprising, Max Payne 3 has had a history of delays. Originally due for release in late 2009, the game was pushed back to 2010 and then 2011. It had seemed, finally, that the game would be releasing during March this year.
Financial projections revised
The delay has come after Take-Two revised their fiscal expectations from the current financial year, decreasing its originally projected $1 billion for the year down by approximately $210-230 million.
However, Take-Two remained confident of their position. Chairman and CEO of Take-Two – Strauss Zelnick – stressed that Rockstar and Take-Two remained bullish about their prospects: “We do not take changes to our release schedule lightly, this short delay will ensure that Max Payne 3 delivers the highest quality entertainment experience that is expected from our company.”
Zelnick continued by adding that “We are confident that consumers will once again be amazed by Rockstar’s ability to take interactive entertainment to another level.”
Max Payne 3: One of many titles to be released
Continuing the positive theme Zelnick stressed that Max Payne 3 is one of many highly expected titles planned to be released this year, with Irrational Games’ BioShock Infinite and Gearbox’s Borderlands 2 (among others) releasing this year. “With Max Payne 3 now slated for May, our robust lineup of upcoming releases for fiscal 2013 is even stronger…We are well-positioned to deliver growth and profitability over the long term.”
Despite the expected loss, investors have been encouraged to focus on Take-Two’s potential in the 2013 fiscal year by Macquarie Securities.
Macquarie Securities did add that while “All eyes will be on the catalysts around Grand Theft Auto announcements, we are also quite bullish on other expected titles, including Bioshock Infinite, NBA, and others.”
Rockstar quiet on GTA 5
Rockstar remained quiet on Grand Theft Auto V, which has no confirmed release date at this point since its debut trailer went public last year, and whether news of this delay to one of its flagship titles for 2012 will have an impact on the GTA V release date. The much-maligned franchise has been speculated to be released in Q2-Q3 this year.
Max Payne 3 will be available on the Xbox 360 and Playstation 3, May 15, this year in North America while dropping May 18 across the rest of the world. PC users can get their hands on the game on May 29 in North America, and June 1 everywhere else.
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