A Monday-ish Wednesday has been for the entertainment and gaming conglomerate Embracer Group and after quite some time of making deals and purchasing, one big $2 billion deal fell apart unexpectedly but they aren’t saying with whom.

Not a way that Embracer Group wanted to close the Fiscal Year 2023 as the company did acknowledge to investors that a semi-completely announced deal with a development with an unnamed company at a $2 billion value went down.

CEO Lars Wingefors acknowledged that the counterpart of the deal did not compromise on closing the deal before the Q4 2023 earning reports (last night) and that it was the same counterpart that decided to backpedal the costly deal.

Wngefors claims that the deal was verbally agreed in October 2022.

Of course, this and with a variation on forecast has investors punishing Embreacer Group’s stock which, as of the writing of this, is almost 49% less of value.

Despite all that, the company did posted Q4 Net sales of SEK 9.4 billion ($879.4 million, up 79% year-on-year) and for the full fiscal year, Net sales: SEK 9.4 billion ($879.4 million, up 79% year-on-year) and respectively, games sales were at Net sales: SEK 9.4 billion ($879.4 million, up 79% year-on-year) and SEK 13.4 billion ($1.3 billion, up 58%).

The biggest seller of Video Games in Q4 was SpongeBob SquarePants: The Cosmic Shake and for the Tabletop market, Asmodee.