Magic: The Gathering Drives 90% of Hasbro’s Profits

Magic: The Gathering is raking in serious cash, and there’s no denying it. Each time Hasbro releases its quarterly financials, the trading card game shines as the standout performer. The third quarter report for 2026 was no exception, suggesting that Hasbro might as well rebrand itself as Magic: The Gathering, Inc. and drop everything else.

According to the 2026 third quarter financial report, Magic: The Gathering has crossed the $600 million mark in quarterly revenue for the first time. Wizards of the Coast, which oversees both Magic and Dungeons & Dragons, accounts for nearly 90% of Hasbro’s quarterly operating profits. The impressive 31% revenue growth compared to the previous year was driven by the success of the latest Magic sets, The Hobbit and Reality Fracture. Notably, The Hobbit has become the fourth best-selling Magic set ever, despite its smaller card pool.

Magic’s financial success isn’t a new trend; each report reinforces that the game is at an all-time high in terms of commercial performance. However, a surprising detail from the earnings call might raise eyebrows among regular players: organized play participation in the first nine months of 2026 has surged by 40% compared to all of 2024.

In recent years, many Magic players have voiced concerns about organized play. The rapid release of new sets has made it challenging to keep up with formats like Standard, and inadequate prize support from Wizards has led to dwindling attendance at events like Regional Championship Qualifiers (RCQs). Meanwhile, newer games like Riftbound are drawing in players with their attractive prize offerings.

So, where are these positive organized play numbers coming from? Some fans have pointed out that every event hosted through Magic’s official Companion app counts as “organized play.” Local game stores frequently use the Companion app to facilitate their weekly Commander games. While Commander is undoubtedly the most popular format, it leans more towards casual play. Thus, while organized play may be thriving, the competitive scene might not be faring as well.

Moving forward, Magic’s biggest challenge will be balancing Hasbro’s sales-driven approach with the needs of its long-time fanbase. The game is selling well, and more players are joining in, thanks to Commander and, albeit reluctantly, the Universes Beyond collaborations. However, competitive players are increasingly feeling sidelined, as if the game no longer caters to those who have supported it for years. With Wizards of the Coast becoming a crucial asset for Hasbro, significant policy changes seem unlikely in the near future.

New digital versions of Magic: The Gathering are set to launch in the coming years.