Take-Two delays BioShock 2, Mafia II
Sequels need more development time, publisher revises earnings due to tough retail environment
Take-Two is delaying the release of anticipated titles BioShock 2 and Mafia II until the 2010 financial year.
Last week the company revealed that four different studios are working on BioShock 2, but according to the publisher, the game needs additional development time.
"The decision to shift a release date is never an easy one, especially with a product as highly anticipated as BioShock 2," offered CEO Ben Feder. "We felt that it was essential to invest the additional time to ensure that this title will deliver what its fans expect and deserve."
"As a result, we will now be launching sequels to several of our strongest franchises - including BioShock 2, Mafia II, Max Payne 3 and Red Dead Redemption - during the next fiscal year. These titles will anchor our line-up for fiscal 2010, and along with other products planned for next year, provide a platform for enhanced financial performance in what we hope will be an improved retail environment."
Take-Two also said that the retail environment is even more challenging than the company's previous expectations, and as a result has revised its expected revenue to between USD 350 million and USD 400 million for the fiscal year ended October 31, 2009.
BioShock 2 was originally due for release on October 30 in Europe, but now has no definite release date.
"We recognise that our revised outlook for the balance of fiscal year 2009, due to both internal and external factors, is a disappointment," offered Strauss Zelnick, CEO of Take-Two.
"That said, we concluded that moving the release of BioShock 2 into fiscal year 2010 was the right decision for the product. We believe the result will be a more compelling consumer experience and a better performing product in the marketplace.
"At the same time, near term retail conditions have proven to be more challenging for our business than the assumptions built into our prior outlook. We remain confident in the long term potential for Take-Two's business, and our ability to capitalise on that potential through our exceptional creative talent and solid balance sheet," he added.