M&A activity surged in Q3 2023, highlighted by a $1.72 billion acquisition offer for Kahoot! and strategic moves from major players including Tencent, Playtika, and Take-Two.

According to "Drake Star Global Gaming Report Q3 2023": M&A activity surged in Q3 2023, highlighted by a $1.72 billion acquisition offer for Kahoot! and strategic moves from major players including Tencent, Playtika, and Take-Two.

Private financing remained resilient with $1 billion raised across 185 deals, 85 percent of which targeted early-stage ventures.

According to "Drake Star Global Gaming Report Q3 2023": Private financing remained resilient with $1 billion raised across 185 deals, 85 percent of which targeted early-stage ventures.

The Drake Star Gaming Index returned 6.6 percent in the first nine months of 2023, underperforming the S&P 500's 11.7 percent return.

According to "Drake Star Global Gaming Report Q3 2023": The Drake Star Gaming Index returned 6.6 percent in the first nine months of 2023, underperforming the S&P 500's 11.7 percent return.

Significant venture capital continues to flow into the sector, with notable funding rounds secured by Second Dinner, Story Protocol, and Inworld AI.

According to "Drake Star Global Gaming Report Q3 2023": Significant venture capital continues to flow into the sector, with notable funding rounds secured by Second Dinner, Story Protocol, and Inworld AI.

Industry projections for 2024 anticipate increased M&A activity driven by strategic incumbent acquisitions, potential divestitures, and heightened private equity participation.

According to "Drake Star Global Gaming Report Q3 2023": Industry projections for 2024 anticipate increased M&A activity driven by strategic incumbent acquisitions, potential divestitures, and heightened private equity participation.

Back to report

Key Insights

Drake Star Global Gaming Report Q3 2023

Drake Star Partners~39 min full read

01
M&A activity surged in Q3 2023, highlighted by a $1.72 billion acquisition offer for Kahoot! and strategic moves from major players including Tencent, Playtika, and Take-Two.
See it on page 3
02
Private financing remained resilient with $1 billion raised across 185 deals, 85 percent of which targeted early-stage ventures.
See it on page 3
03
The Drake Star Gaming Index returned 6.6 percent in the first nine months of 2023, underperforming the S&P 500's 11.7 percent return.
See it on page 15
04
Significant venture capital continues to flow into the sector, with notable funding rounds secured by Second Dinner, Story Protocol, and Inworld AI.
See it on page 4
05
Industry projections for 2024 anticipate increased M&A activity driven by strategic incumbent acquisitions, potential divestitures, and heightened private equity participation.
See it on page 3

That's the gist.

Dive into the full report for the data, charts, and sources behind these takeaways.

Read the full report