Roblox, Hasbro Climb on Deal for Toys Based on Gaming Platform
(Bloomberg) -- Shares of Roblox Corp. and Hasbro Inc. climbed on Tuesday after the companies announced a deal to create new Nerf and Monopoly products based on the video-game platform.
Hasbro, the nearly century-old toy giant, will sell a $19.99 version of its Monopoly board game inspired by Roblox. And it’s rolling out Nerf blaster guns based on top Roblox games, including Adopt Me! and Jailbreak, the companies said in a joint statement.
Roblox, whose platform is particularly popular among tweens, has seen its shares surge since their public debut last month. But the company has been seeking new sources of revenue, especially as the pandemic wanes and kids head back to in-person school.
Shares of Roblox climbed as much as 8.2% to $81.13 on Tuesday, reaching a record high. Hasbro rose 3.5% to $100.47, its biggest intraday gain in more than a month.
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