Hasbro-owned Wizards of the Coast, known for card and tabletop games such as Magic: The Gathering and Dungeons & Dragons, is pulling back on plans to expand further into video games.
A spokesperson for Hasbro told Cheddar News that the company remains "committed to using digital games as a cornerstone of our strategy for bringing our games to players around the world," but that it's refocusing its efforts for strategic reasons.
"We made some changes to our long-term portfolio to focus on games which are strategically aligned with developing our existing brands and those which show promise in expanding or engaging our audience in new ways," a spokesperson said.
What does that mean exactly? Hasbro would not provide additional details, but Bloomberg on Wednesday reported that Wizards of the Coast is canceling five video game projects, and that fewer than 15 employees will lose their jobs as a result of the changes.
The cancellations reportedly do not include the highly anticipated 2023 release of Baldur's Gate 3, which has been in development for years. The last major entry in the franchise came out in 2001.
Wizards of the Coast's most recent foray into gaming, Dungeons & Dragons: Dark Alliance, which came out in summer 2021, was not well received by critics or fans.
The company pivoted into video games amid hard times for the toy industry. Both Hasbro and competitor Mattel reported sales declines in the third quarter, as higher costs reduced demand.