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Global Gaming Report Q1 2026

The global gaming industry experienced a period of significant structural realignment during the first quarter of 2026, characterized by a surge in high-value consolidation alongside a cooling of public market sentiment.

• Q1 2026 saw 106 private placement deals totaling $785 million, a significant decrease from Q1 2025's $5.0 billion across 149 deals, indicating a cooling investment landscape.
• Project financing is now the primary funding path for studios due to headwinds in studio equity, with dedicated User Acquisition (UA) funds emerging as a new lifeline for mid-stage mobile studios.
• Key strategics to watch include PIF/Scopely, KRAFTON, NCSoft, Tencent, MTG, Take-Two, Netflix, everplay, and Keywords Studios, while Private Equity is expected to drive take-private transactions of publicly listed gaming firms.