Take-Two delays 'GTA VI' for second time to Nov next year

Take-Two Interactive said on Thursday it expects to launch "Grand Theft Auto VI" on November 19 next year, in the latest delay for the gaming industry's most-anticipated title following the blockbuster success of its predecessor.

Shares of the company, which had previously said it would launch the title on May 26, were down more than 7% in extended trading.

This marks the second delay for the game - initially set for launch this year - and will further disappoint millions of fans who have waited for more than a decade for the next instalment in the best-selling franchise.

"We are sorry for adding additional time to what we realise has been a long wait, but these extra months will allow us to finish the game with the level of polish you have come to expect and deserve," developers Rockstar Games said.

"GTA VI" is expected to be a major catalyst that could spur console and hardware upgrades, giving a boost to the video game industry growth at a time when gamers get choosy with titles and prefer sticking with proven franchises.

"Taking the right amount of time to develop and perfect the game is important because generally rushed games with flaws often never recover / reach sales potential," DA Davidson & Co analyst Wyatt Swanson said.

Analysts expect the game to generate billions in sales within the first few weeks of launch.

"GTA VI" is set to release 13 years after "Grand Theft Auto V" took the industry by storm with its advanced graphics, gameplay mechanics, and realistic environments, making it one of the most profitable video games ever.

Take-Two also raised its forecast for annual bookings to between $6.40 billion and $6.50 billion, compared with its prior forecast of between $6.05 billion and $6.15 billion, on the back of strong spending on its mobile and premium titles.