The first quarter of 2026 saw total gaming deals value reach $9.5 billion across 164 deals, led by a mega transaction: Moonton’s sale to Savvy Games Group for $6 billion.

Savvy Games Group drove the quarter’s activity by acquiring Moonton for $6 billion, while its subsidiary Scopely expanded mobile-focused exposure with a $1 billion purchase of Loom Games.

M&A dominated deal flow, totaling $7.7 billion in Q1 2026, anchored by the Moonton sale, the Loom Games sale to Scopely, and NCSOFT’s $202 million acquisition of 70% of JustPlay.

Early-stage, VC-led deals slowed to post-pandemic lows, with notable activity still coming from investors such as Arcadia, Bitkraft Ventures, and Griffin.

Public offerings were modest at $1 billion across 11 deals, while private investments rose year over year but dipped quarter over quarter to $800 million across 101 deals.

Aream & Co.’s Q1 2026 report cites macro headwinds and AI-driven market rotation as factors shaping public equities and gaming stock performance.

Revenue highs surged across platforms: Steam reached a quarterly record of $5.6 billion, console revenue hit a record $21.7 billion led by Switch 2, and mobile in-app purchases totaled $20.5 billion, even as PS5 and Xbox sales declined.

Compared with Q1 2025’s $6.2 billion across 193 deals, Q1 2026 shows a significant shift, with mega-deals reshaping the mix and 2025 figures reflecting closed deals only.

Top-growing publishers in the US included Loom Games, Microfun, and Century Games, with Bandai Namco and Voodoo among the global top publishers as Asia and Türkiye studios gain revenue share.

Hasbro led public offerings in Q1 2026 with a $400 million senior note issue, contributing to the quarter’s $1 billion public offering total.

Total 2026 Q1 global video game M&A reached $7.7 billion across 52 deals, marking a post-pandemic high and more than triple the pace of Q1 2025 (excluding mega-deals).