BofA analysts on Tuesday said rival Mattel had the upper hand over Hasbro this year
After Hasbro Inc. drew backlash for efforts to extract more money from its “Dungeons & Dragons” and “Magic: The Gathering” fantasy games, BofA analysts on Tuesday said rival toymaker Mattel Inc. has the upper hand this year, thanks in part to Disney princesses and an upcoming Barbie movie.
“Expectations for Mattel’s 4Q have reset lower following Hasbro’s preannouncement,” BofA analysts Jason Haas, Elizabeth Suzuki and Sarah Park said in a research note on Tuesday. “We prefer Mattel’s shares over Hasbro’s.” In November, BofA analysts said Hasbro had printed too many “Magic: The Gathering” cards in an effort to take advantage of a surge in gaming interest during the height of the pandemic. But the flood of new cards drove prices down for collectors, and left game shops frustrated and players unable to keep up, and damaged the game’s reputation overall, the analysts said.
“This is a victory for open gaming, forever,” said a statement on the website for #OpenDND, a campaign that amassed nearly 80,000 signatures opposing the changes. “We can continue making and playing games without corporate oversight or oppressive restrictions, as we have for two decades.”
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