GameStop Acquires Rhino Video Games

Rumors originating from the Cheap Ass Gamer forums began circulating late last night, claiming that worldwide video game retail giant GameStop is to acquire smaller United States gaming retail chain Rhino Video Games. Most Rhino Video Games stores are located in the country's Southeast region, as well as in a few Midwest states. Rhino was acquired by Blockbuster in May 2004.

Shacknews contacted GameStop's corporate headquarters for response, but a company representative dismissed the reports as rumor and stated that the company is not commenting on the matter. However, when we contacted individual store locations, Rhino retail employees confirmed the buyout claims, noting that the acquisition has already taken place. Some employees were unaware of if and when any physical changes would occur, while others corroborated forum poster FSUEagles' statement that Rhino stores would begin conversion to GameStops later this month. Rhino stores currently buy and sell most major legacy game systems and game libraries dating back to the NES. As GameStop no longer deals in those formats, it is likely they will be phased out once Rhino locations convert to GameStops.

In related news, GameStop, which also owns retail chain EB Games, today released its 2006 holiday season financial results. The company saw revenues of $1.73 billion, a 29% increase year over year. As a result, projections for comparable store sales in fiscal Q4 2006 have been raised from 22% to 23%. Topping GameStop's sales charts for the holiday period were Epic's Gears of War, Square Enix's Final Fantasy XII, Nintendo's The Legend of Zelda: Twilight Princess, Harmonix's Guitar Hero II, and Yuke's' WWE SmackDown vs. RAW 2007. GameStop has not yet made any public mention of the Rhino deal in its financial reports.