In an interview with Bloomberg, Namco Bandai President Takeo Takasu reveals that developing for the PS3 comes at a hefty price. In order to turn a profit, Takeo estimates a game needs to sell 500,000 copies worldwide, as graphics for the HD games cost about 1 billion yen ($8.6 million) to create, more than double that for Wii titles. Numbers that are quite staggering considering that Ridge Racer 7 and Mobile Suit Gundam: Crossfire each sold a mere 22,000 copies in Japan.

Beltion: Beyond Ritual is Rostok-Games' alternative fantasy RPG, in development since 2004. Beltion allows the player a freeform gameplay with a mix of fantasy and historical reality of medieval Europe. Check out the freshly launched website, or read more for screens ...

Sony Computer Entertainment Inc. announced some management shuffling as President, and Group CEO, Ken Kutaragi, becomes Chairman, while former President and CEO of SCEA Kaz Hirai, replaced by SCEA EVP and co-COO Jack Tretton, steps up as President and Group COO of SCEI, effective December 1, 2006.

The Game Developers’ Association of Australia revealed findings from its first survey in 3 years, showing that the entertainment/gaming industry is in a phase of record growth.

Reef Entertainment has secured the rights to Rebellion’s new extreme sports franchise Free Running on PS2 and PSP, a project formerly in development over at Core Design, now a Rebellion studio.

Splinter Cell Double Agent reinvents the spy action genre by introducing a double agent concept and a new breed of game play that adds an exciting new dimension to the gaming experience. Ubisoft has issued a patch for the Xbox 360 version, available through Xbox Live, fixing various multiplayer problems, such as lag, and freeze issues.

SEGA's PS2 exclusive RPG Shining Force EXA plunges gamers into stunning interactive worlds of swords and sorcery, fill with anime cut-scenes that the classic series is best known for.

As we speak Microsoft is rolling out a new, but small, dashboard update across the world. Next time you sign into Xbox Live, you'll be prompted to update, which improves support for HD video output over VGA, including 1080p resolution, improves plug and play performance for wired headsets when being used with wireless controllers, and changes made to recently played games list to improve accuracy.

Europa Universalis III delves deeply into the areas of exploration, trade, warfare and diplomacy and is an epic strategy game where players take control of a nation and guide it through the ages to become a great global empire.

Artificial Studios' CellFactor: Revolution is an updated & enhanced version of its tech demo Cellfactor: Combat Training, an action-packed FPS with true-to-life physics, powered by AGEIA PhysX processor. AI middleware provider Kynogon announced that it has been selected for Cell Factor: Revolution.