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December 22, 2004
1 Min Read
uWink, the coin-op developer founded by industry legend Nolan Bushnell, has announced that it is trying (albeit unsuccessfully so far) to secure assets from U.S. arcade owner Sega GameWorks. In the auction held yesterday, the company emerged as the highest bidder, thanks to the backing of Mellon HBV Alternative Strategies. However, despite uWink making a bid of $9.5 million, $1.2 million higher than any other bidder, the assets were actually purchased by Sega subsidiary SS Entertainment, for what uWink's press release described as 'technical reasons'. uWink is now contending the decision legally, with a court hearing scheduled for January 6th. Despite the name, Sega GameWorks was owned by a variety of companies, including a U.S. subsidiary of Sega Corporation, but also Vivendi Universal Entertainment. The California arcade operator filed for bankruptcy in March of this year, while continuing to operate its twenty entertainment facilities across North America. Bushnell himself has commented: "For years I have been looking for an opportunity to bring the same economic returns that I created with Chuck E. Cheese to adult entertainment restaurants. The acquisition of GameWorks, coupled with uWink technology, is the ideal platform for the entertainment restaurant of the future."
About the Author(s)
David Jenkins ([email protected]) is a freelance writer and journalist working in the UK. As well as being a regular news contributor to Gamasutra.com, he also writes for newsstand magazines Cube, Games TM and Edge, in addition to working for companies including BBC Worldwide, Disney, Amazon and Telewest.
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