Take-Two postpones “GTA VI” for the second time until November next year

Take-Two Interactive announced Thursday that it plans to release “Grand Theft Auto VI” on November 19 next year, the latest delay for the gaming industry’s most anticipated title after the resounding success of its predecessor.

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

This is the game’s second delay – originally planned for this year – and will further disappoint the millions of fans who have been waiting for over a decade for the next installment in the hit franchise.

“We’re sorry for adding additional time to what we realize is a long wait, but these extra months will allow us to finish the game with the level of polish you expect and deserve,” developers Rockstar Games said.

“GTA VI” is expected to be a major catalyst that could spur console and hardware upgrades, providing a boost to the growth of the video game industry at a time when gamers are choosy about titles and prefer to stick to proven franchises.

“It’s important to take the time needed to develop and perfect the game, as games that are typically rushed and have flaws never recover/reach their sales potential,” said Wyatt Swanson, analyst at DA Davidson & Co.

Analysts expect the game to generate billions in sales in the first weeks after 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 highest-grossing video games of all time.

Take-Two also raised its annual bookings forecast to between $6.40 billion and $6.50 billion, up from its previous forecast of between $6.05 billion and $6.15 billion, thanks to strong spending on its mobile and premium titles.