Roblox, Hasbro Gain On Deal To Sell Toys Based on Video Games

imageStock Markets25 minutes ago (Apr 13, 2021 01:26PM ET)

(C) Reuters

By Dhirendra Tripathi – Shares of both Roblox Corp (NYSE:RBLX) and Hasbro Inc (NASDAQ:HAS) gained on Tuesday as the two struck a deal to create Nerf and Monopoly products based on the video-game company’s platform.

Roblox made its public debut March 10 with a reference price of $45. The shares are up almost 8% on Tuesday. Hasbro shares are up almost 2% in the session so far and not very far from their 52-week high of $101.17.

Roblox, popular amongst the young, is seeking new sources of revenue as excitement for its offerings abates now that children are returning to in-person school.

Hasbro will sell a $19.99 version of its Monopoly board game inspired by Roblox. It will launch Nerf blaster guns based on top Roblox games, including Adopt Me! and Jailbreak. They will hit U.S. shelves this fall, followed by a rollout in more markets.

Later this year, Nerf will launch its own branded experience on the Roblox platform.

Just a day back, Comscore shared new audience insights that showed Roblox saw 34 million unique U.S. consumers in February, more than Zynga’s $28 million. These people spent 6.3 billion minutes accessing Roblox’s desktop and mobile gaming platform, a growth of 32% and 39%, respectively, the Comscore data revealed.

Roblox, Hasbro Gain On Deal To Sell Toys Based on Video Games

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