Hasbro has opened a new Wizards of the Coast studio in downtown Montreal, creating a dedicated hub for Dungeons & Dragons digital games. The 35,518-square-foot facility is expected to grow to about 200 employees by 2028 and is designed to become Hasbro's largest concentration of video-game talent.
The studio gives physical form to a strategy Hasbro has discussed for several years: use its strongest intellectual property across games, digital services, entertainment and licensing. Montreal already housed Invoke Studios, which Hasbro acquired in 2019. The new site expands that local base rather than starting from zero.
A bet on D&D as a digital franchise
Wizards of the Coast is more than a tabletop business. Hasbro is using Dungeons & Dragons across video games, D&D Beyond and other digital experiences, aiming to build recurring engagement around the brand. Management said D&D Beyond was performing well during the second quarter, when the Wizards of the Coast and Digital Gaming segment increased revenue 27% from a year earlier. Hasbro's total quarterly revenue rose more than 16% to roughly $1.1 billion.
Those figures do not tell investors how much the Montreal studio will earn. Hasbro has not disclosed the site's investment cost, production slate economics or expected return. Game development is also uneven: projects take years, schedules change and commercial outcomes depend on a small number of releases.
Still, the hiring plan is significant. A 200-person studio can support multiple development disciplines and gives Hasbro access to Montreal's established game-production workforce. It also reduces the gap between owning a major fantasy franchise and having enough internal capacity to build games around it.
What investors should measure
The studio opening is strategically positive, but the financial proof will come later. Investors should look for named projects, launch windows, development spending and evidence that new titles increase engagement or bookings across the broader D&D ecosystem.
Hasbro's next step is not simply filling the building. It must turn the team into durable releases that can complement tabletop products and D&D Beyond. The Montreal expansion strengthens the company's production capability; whether it strengthens earnings will depend on the quality, timing and economics of the games that follow.