Recent news: GDEV Inc. faced a 3.2% decline in Q3 bookings, driven by a sharp reduction in monthly paying users and softer advertising revenue, despite positive analyst sentiment regarding its valuation and dividend yield. Operationally, the company continues to optimize costs but remains under pressure from ongoing user and revenue declines, keeping sentiment mixed among investors tracking emerging gaming and digital entertainment themes.
Why it matters for VICE: GDEV Inc. secures VICE's exposure to the volatile online gaming sector, capturing the risks and rewards of changing consumer habits and international competition. Its performance is a vivid illustration of VICE’s strategy to seek resilient, demand-driven, and habit-forming digital entertainment assets.
NetEase Inc. (NTES) – 4.96% Weight
Recent news: NetEase announced a $0.57 per share dividend for holders of record on December 5, 2025, and reported strong Q3 results driven by robust growth in gaming, cloud services, and communication platforms. The company’s strategic share buybacks and analyst upgrades further buoy investor confidence, as NetEase continues to expand its reach and sustain leadership in China’s online entertainment market.
Why it matters for VICE: NetEase anchors VICE’s focus on global digital platforms and consumer discretionary names with habitual, high-margin revenue streams. Its ability to deliver dividends, growth, and capital returns directly aligns with VICE’s mandate to invest in defensive, resilient “vice” sectors.
Melco Resorts & Entertainment Ltd. (MLCO) – 4.63% Weight
Recent news: Melco Resorts reported Q3 net income of $74.7 million and continues to attract significant institutional investment following solid results from its Macau and Mediterranean properties. Melco’s portfolio of integrated resorts delivered double-digit growth and margin expansion, bolstered by policy changes and increased gaming demand in Asia.
Why it matters for VICE: Melco is a core exposure to the leisure and gaming sector, tying directly to VICE’s strategy of capturing secular growth in regulated gambling and premium hospitality. Its international footprint and ability to scale through cycles reinforce VICE’s thematic resilience.
Data as of 11/28/2025. Holdings subject to change. For a list of VICE's holdings, click here.
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