Hasbro's video game revenue increases 19 percent

Hasbro, Inc.'s investment in video games is doing well for the company, which reported a 19 percent percent increase in games revenues in the second quarter of 2013 today.

The growth represents the third consecutive quarter of growth in the video game category, and Hasbro called out games in the Magic: The Gathering, Monopoly, Twister, Jenga and the Elfun & Friends as growing brands.

Overall, net revenues for the company were $766.3 million, down 6 percent from $811.5 million in the same quarter last year.

President and CEO Brian Goldner commented on "important initiatives" coming up for the company, where video games and related merchandise featured prominently.

"We have expanded our digital gaming capabilities with the acquisition of 70 percent of Backflip Studios, a profitable mobile game studio," Goldner said. "Importantly, we are developing comprehensive and innovative lines for both film and television entertainment in the coming years, including Transformers 4 in 2014 as well as Marvel and Star Wars entertainment from Disney in 2014, 2015 and beyond."

Hasbro partnered with several video game developers and publishers over the last year. Earlier this month, it bought DragonVale developer Backflip Studios. In January, PopCap Games and Hasbro joined forces to bring Bejeweled to tabletops. Last year, Zynga and Hasbro teamed up to create board game versions of CityVille, FarmVille and Words with Friends.

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