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Take-Two's (TTWO) 2K Announces the Availability of WWE 2K22

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Take-Two Interactive (TTWO - Free Report) division 2K announced the newest installment of its flagship WWE video game franchise, WWE 2K22, developed by Visual Concepts.

The newest release is currently available for PlayStation4 (PS4), PlayStation5 (PS5), Xbox One, Xbox Series X|S and PC via Steam.

The game features a total overhaul, including a redesigned engine and gameplay, improved graphics and intuitive and accessible controls. The game, which features Rey Mysterio, the WWE superstar on its cover, also provides multiple new game modes and an immersive presentation and camera angles throughout.

WWE 2K22 includes a diverse soundtrack specially curated by the U.S. musician Machine Gun Kelly, who will also be available as a playable character in a future downloadable content pack.

Portfolio Strength to Aid Top-Line Growth

The upcoming game will strengthen Take-Two’s gaming portfolio that includes popular franchises like NBA, Grand Theft Auto (GTA) and Borderlands. Take-Two keeps building upon its portfolio by innovating and adding new content to franchises. The company is benefiting from portfolio strength and a solid increase in recurrent consumer spending.

In February 2022, Take-Two’s publishing label Private Division and Roll7 announced the digital availability of OlliOlli World for the Nintendo Switch, PlayStation 5 and PlayStation 4, the Xbox Series X|S and Xbox One consoles and PC via Steam.

In December 2020, Rockstar Games, another publishing label of Take-Two, announced that GTA Online: The Contract is now available for download, free for players with a copy of Grand Theft Auto V.

GTA Online: The Contract is playable solo or with friends. This latest massive update to GTA Online features an all-new adventure set inside in the city of Los Santos and Dr. Dre features as a high-profile client.

In fact, Take-Two’s strong content portfolio is helping it fight intensifying competition from the likes of Electronic Arts (EA - Free Report) , Zynga and Activision Blizzard (ATVI - Free Report) . All four stocks have benefited from higher spending on video games due to coronavirus-induced lockdowns and shelter-in-place guidelines.

Take-Two’s shares have underperformed the Zacks Toys-Games-Hobbies industry as well as peers like Electronic Arts, Activision Blizzard and Zynga.

While Take-Two’s shares have declined 13.6%, stocks in the Zacks Toys-Games-Hobbies industry have lost 2.7%. Zynga and Activision shares have gained 41.4% and 20.8% year to date, respectively. EA has declined 7.2% year to date.

This Zacks Rank #3 (Hold) company is benefiting from digital revenues that are growing on solid demand for GTA, NBA 2K21, Red Dead Redemption, Borderlands 3, Sid Meier’s Civilization VI, Social Point’s mobile offerings, the WWE series, and the Mafia: Definitive Editions and Mafia: Trilogy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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