Gamestop Threatened as Wal-Mart Re-Enters Video Game Trade-In Business
Wal-Mart is giving Gamestop a run for its money with its announcement that it will re-start its video game trade-in program. The news left Gamestop shares dropping six percent during early morning trading on Tuesday. Starting March 26th, Wal-Mart will accept used video games in exchange for in-store gift cards that can also be used at Sam's Club. They will accept games from all major consoles including the Sony PlayStation3 and the Microsoft Xbox 360. This is the second time the company has tried to enter the gaming market, including a failed attempt in 2009 when kiosks were set up for trade ins. This time, Wal-Mart will be backed by CE Exchange, the company that pushed Wal-Mart's tablet and smartphone trade-in program.
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