Hasbro Total Gaming Revenue Down 19% for Q2

This story has been corrected to reflect the total gaming revenue numbers.

Hasbro’s total gaming revenue, including Magic: The Gathering, Monopoly and others, fell 19% in Q2. Revenues fell from $393.4 million in 2019 to $319 million this year. The figure drops to 4% when looking at the last six months ending in June.

Hasbro’s “Gaming” category grew 11% in the second quarter versus last year. Jenga, Connect 4, Battleship, Mousetrap and Twister were among the top revenue increases in the quarter.

The company’s overall revenue fell 29% as it dealt with store closures, product shortages and dwindling retail inventories.

Magic: The Gathering revenues declined for the quarter. Hasbro said this was expected with a major release in the second quarter of 2019 and accelerated shipments into Q1 2020, making the comparison to last year difficult.

Digital revenues for Magic increased slightly. The company expects strong analog and digital releases will support the brand into the second half of 2020.

The company is making a drastic shift to e-commerce as nearly 30% of global toy and game revenues happen online in the second quarter. This trend declined in Latin America due to lack of online stores and the impact of COVID-19 on the countries.

“Over the next few years, we are positioned to benefit from the investments we have made in ecomm, entertainment and digital gaming,” said Chairman and CEO Brian Goldner.

The company said all partner factories and warehouses are open and operating. It has also seen retail locations start to open and expects that to continue.

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