Friday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.
Amazon
Amazon is jumping deeper into the $160 billion gaming industry with the launch of its new Luna streaming service.
Luna, which is only available by invitation for now, will run on Amazon’s massive Amazon Web Service.
Amazon will take on Google and Microsoft with its gaming business.
Chuck E. Cheese
Chuck E. Cheese CEO said that the children’s dinnertainment company just launched an entertainment division.
Business Insider reports the entertainment division will focus on merchandising and toys at first but breaking into scripted entertainment is part of the company’s strategic vision and one of its “pillars of growth.”
Marriott
The owner of more than 100 Marriott hotel properties is threatening to terminate its agreement with the chain and rebrand the properties with another company due to a payment shortfall.
Fox Business reports Service Properties Trust announced on Thursday that Marriott International owes millions of dollars.
The agreement between companies covers 122 hotels in 31 states, including 71 Courtyards, 35 Residence Inns, 12 Towneplace Suites, two Springhill Suites and two Marriotts.
It’s asked Marriott to pay $11 million within 10 days.
Olive Garden
Darden Restaurants, the parent of Olive Garden and LongHorn Steakhouse, says sales fell 30%.
Many of its restaurants were closed due to the pandemic.
The Times Square restaurant in New York is losing $300,000 every week due to coronavirus restrictions.