*By Christian Smith*
Classic video game maker Atari is leaving its retro console past behind and embracing esports with a new plan to make head-to-head editions of its most iconic franchises, said the CEO, Frédéric Chesnais.
"You're going to have games where you can play Pong against somebody else just on the phone," Chesnais said Wednesday in an interview on Cheddar.
In April, Atari ($ATAR.PA) announced a partnership with Bayside Games, granting the company exclusive rights to develop "player-versus-player" and "physical skill"-based Atari titles.
The company's push to expand its mobile gaming options comes just five years after its American arm filed for bankruptcy, at which point Chesnais ー who departed the company in 2007 ー returned to the helm to "right the ship."
Now, the French firm is reclaiming its territory in the U.S.
The company announced Wednesday it would be listed on the Nasdaq International's U.S. OTC market, which Chesnais said will make it easier for U.S. investors to buy shares in the company. Atari stock will still trade on the Euronext Paris market.
Atari first rose to prominence in the late 70s and 80s, thanks to games and franchises like "Pong," "Asteroids," and "Centipede."
For full interview [click here](https://cheddar.com/videos/atari-ceo-on-the-companys-growth-strategy-just-a-few-years-after-filing-for-bankruptcy).
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
