Hasbro posts a $56 million write-down and calls off "several games" planned for release in 2028 and later

Hasbro has announced a $56 million write-off related to its video game division, leading to the cancellation of several planned titles set for release after 2028.

In a shareholder presentation, Chris Cocks, CEO of Hasbro, stated that the company assessed its portfolio and refined its digital ambitions.

"This evaluation led us to cancel several future game releases, resulting in a $56 million non-cash write-down this quarter related to capitalized costs," Cocks elaborated.

Cocks highlighted that this reduction aligns with the strategic standard applied to their portfolio, emphasizing that investments will be concentrated on franchises, platforms, and partnerships with the potential for significant success.

Going forward, Hasbro is focusing on four key areas for their gaming initiatives: prioritization, cost management, proprietary platforms, and alliances. The strategy involves a renewed emphasis on "trading card games and role-playing games," cutting expenses, capitalizing on its intellectual properties, and securing suitable collaborations. Monopoly Go by Scopely was mentioned as a model of this approach's success.

In a March discussion, Cocks commented on the need for a shift in the video game industry’s approach, citing the soaring costs of producing AAA titles.