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Atari Explores New Ventures, Splits Into Gaming and Blockchain Divisions

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  • Frédéric Chesnais, the former Atari CEO, will now lead the Atari Blockchain. Wade J. Rosen, previously acting Chairman of Atari’s Board of Directors, is the entire Atari Group’s new CEO.
  • Atari Gaming focuses on “the expanding market of retro gaming” whereas Atari Blockchain covers the blockchain or crypto-related tasks.
  • Atari hinted that the Atari Blockchain division might be spun off to manifest as a separate company in the future.

Founded in 1972, Atari, the true innovator of the video game, announced its decision to split into two units on Tuesday. The first division focuses on the firm’s gaming aspect, called Atari Gaming, and another will be the blockchain division, Atari Blockchain.

The video game pioneer Atari, comprising Atari SA and its subsidiaries, is all set and ready to explore new ventures. The then Atari CEO, Frédéric Chesnais, will now lead the Atari Blockchain. Wade J. Rosen, previously acting Chairman of Atari’s Board of Directors, is the entire Atari Group’s new CEO.

Atari Gaming: managing Games, Hotels and Casinos

Atari Gaming’s primary focus is “the expanding market of retro gaming”. Including game development, this division will also license its name to non-gaming related fields, including hotels and casinos. Atari’s licensing division has already surpassed and blurred the virtual realm’s edges with their March-announced project of gaming-themed Atari hotels in Dubai, Gibraltar, and Spain.

Atari Blockchain: to handle Crypto-Related Tasks

On the other hand, Atari Blockchain covers the blockchain or crypto-related tasks, including managing the Atari Token (ATRI), presently trading at $0.603417, and evaluating opportunities for non-fungible tokens (NFT) blockchain games and blockchain-based online worlds. The firm hopes for ATRI to become a standard method of purchasing interactive entertainment gradually and also hinted that, in the future, the division might be spun off to manifest as a separate company.

Wade J. Rosen feels Thankful

Appointed Chief Executive Officer of Atari, effective April 6, 2021, Wade Rosen feels honoured to serve as the steward of an “iconic and legendary” entity, Atari. He then expressed his immense respect and gratitude towards former CEO “Fred Chesnais”. In 2013, with its portfolio of over 200 games and franchises, the brand was saved from bankruptcy by French company Ker Ventures, owned by Frédéric Chesnais and American fund Alden.

Rosen continued, Chesnais embraced Atari when it was “burdened with debt”, and under his supervision, the company achieved an absolute “turn around”. It was Chesnais’ foresight, “to push Atari into cutting edge markets like Blockchain, the VCS, and the Atari Hotels”, that the firm is now “well-positioned for such incredible long-term success”. Further, he thanked “Fred for his leadership” and is “excited” to continue working alongside him.

Developments to Better Adapt to their Future Business-line Changes:

Proceeding, Frédéric Chesnais, a significant shareholder of Atari, humbled his work saying, “8 years ago, the brand was given for dead” and yet the “spectacular turnaround” we witness today is the result of “solid teamwork and support from the shareholders”. Thanking everyone for their contributions, Chesnais feels “proud of this outcome” and believes “this organization in two divisions” will help them adapt to their business line changes.

Despite the first half of the year procuring below-par results, with revenues down by 27% to 7.8 million euros, Atari’s share price has doubled since January 2021. The company now values around €250 million (over $297.4 million).

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