Take-Two President Karl Slatoff spoke today during the 20th Annual Credit Suisse Technology, Media & Telecom Conference for about half an hour, ending his speech just minutes ago.

We've transcribed in the quote below the most interesting parts. As expected, he received a number of questions on all the most important industry topics.

Take-Two has had a highly strategic focus on recurring consumer spending (monetizing after release) for quite some time, it's a very meaningful part of our business. We're not the most efficient organization, but we try to be and that includes cutting down costs where possible.

Bringing more resources in-house has been key for us. NBA and WWE are both stable and growing.

WWE has a lot of opportunity to grow even further, but it takes time, it's on the right track.

We don't have a preference between acquisitions and working with outside partners. What we look for in acquisitions is IP, tech, value and it's generally hard to find all three.

We've had quite a bit of success with NBA2K Online in China with the Tencent partnership. We're happy about that. It's the biggest market in the world and it only represents 8% of our business for the time being, so there's a lot of opportunity for growth as it's relatively untapped. Most of the market there is free-to-play which is not a core part of our business.

We're very intrigued and excited by VR, but it's really not about us but more about consumers want.

The folks at Nintendo are making a great effort to support third-party developers, we're very optimistic on the Switch though we are not announcing anything specific today.

The Holiday season has been great for Take-Two, we're really happy so far. In terms of eSports, for us the biggest benefit is that it helps market our titles.