As a result, Midway now forecasts a Q3 net loss of 70 cents per share, versus the previous estimated net loss of 49 cents per share.
Interim CEO Matt Booty said in a statement that the move is a "very positive step as we continue to review Midway’s involvement with underperforming projects and focus on our core properties..."
But in mid-morning trading on the Nasdaq, shares had dropped 8 percent to $1.38 on the revision.
Midway said it still has licensing agreements with DC Comics and TNA Wrestling.
We've contacted Midway for more information.