The user-generated gaming platform, hugely popular with kids, has yet to turn a profit.
Playdots has made three popular games—Dots, Two Dots, and Dots & Co.—that have been downloaded more than 100 million times.
“We are living in unprecedented times and more people than ever before are turning to games for entertainment and a sense of community."
Microsoft tried to compete with Amazon's Twitch but its Mixer service saw "almost no growth in a medium that has otherwise been exploding."
Consumers confined to their homes by COVID-19 are turning to games not only as a diversion but also for social connection.
The video game retailer will save about $157 million a year by eliminating the dividend as it struggles with shrinking profits.
Take-Two's Q4 adjusted revenue missed estimates amid pressure from online and free-to-play video games such as Fortnite.
Most of the job cuts will come from support staff as the video game publisher prioritizes investment in its biggest franchises.
The retailer believes it can still "leverage our industry-leading position to drive growth in the second half" of the year.
Strong demand for Nintendo Switch, PS4 Pro, and Xbox One X consoles powered the retailer's 12.2% gain in same-store sales.
The company believes its shift toward non-gaming businesses is paying off and sees "an abundance of business opportunities."
“Companies like Warner Brothers need to be straight with consumers in their online ad campaigns," the Federal Trade Commission says.
