Hasbro Exec Rolled a “1” on Video Games — and Lost His Job
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If you’re not an avid gamer, you may not have noticed, but it’s been a busy couple of weeks in the world of gaming lately — and for no one more so than for Hasbro (NASDAQ: HAS).
On July 21, Hasbro — the <a href="https://comicvibe.com/d23-2026-disney-reveals-whats-next-in-entertainment/” title=”D23 2026: Disney Reveals What’s Next in Entertainment”>entertainment titan behind everything from Monopoly and Nerf guns to Avengers action figures and Peppa Pig cartoons — released a Q2 earnings report packed with large numbers. Total sales for the quarter grew 16% to $1.1 billion. Sales at the Wizards of the Coast (WotC) division, home to both roleplaying behemoth Dungeons & Dragonsand dominant card game Magic: The Gathering (MTG), grew 27%.
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In fact, MTG alone booked $500 million in quarterly revenue, driving the entire company’s performance with its own 32% revenue growth rate.
One week later, Hasbro announced that the man responsible for much of this success, Wizards of the Coast President John Hight, will cease to be president effective Sept. 1. (He will, however, remain employed as an “advisor” to Hasbro through Sept. 2, 2027.)
Hight helped turn Hasbro profitable again
Hight’s work for WotC helped Hasbro flip from a net lossof $6.10 per share a year ago to a net profitof $1.12 in Q2 2026. The profit might have been 35% bigger, but Hasbro had to take a $56 million impairment charge after canceling “several” unnamed video games that had been planned for release in 2028 and beyond.
Within the gaming blogosphere, the current working theory is that these cancellations lie behind Hight’s departure.
The big worry is that Hight’s leaving WotC may derail Hasbro’s recent string of successes.
So long, and thanks for all the fiscal improvement
Consider the progress Hasbro made under Hight’s tenure. According to data from S&P Global Market Intelligence, Hight took over WotC in July 2024 after a 12-year tenure at Blizzard Entertainment, where he ran the World of Warcraft franchise. He came aboard just as Hasbro was exiting an H1 that saw sales decline a precipitous 21%. Within a year of his arrival, Hasbro’s sales were growing again, and 2025 sales grew nearly 14% over 2024, largely thanks to WotC.
Over the past 12 months, Hasbro approached $5 billion in sales, with $794 million in net profit, and more than $1.2 billionin positive free cash flow.
