Long-awaited action video game Grand Theft Auto IV went on sale today, with eager fans lining up to be among the first to play.

The launch of Grand Theft Auto IV is expected to be one of the most successful video games in the industry’s history, with sales forecasts to be up to $400 million during the first week.

Take-Two Interactive, the video game publisher and creator of Grand theft Auto IV, said it had worldwide pre-order demand of 6 million copies of the game (equivalent to $360 million worth at the game priced of $60). If the prediction is right, Grand Theft Auto IV launch would break the record set last year by Microsoft’s Halo III after reaching $170 million during the first day.

Strong results could potentially boost the company’s value as it faces a $2 billion acquisition offer from rival Electronic Arts.

Stay tuned for sales figures released later this week or early next week.

Update: Take Two Interactive unveils GTA 4 first week sales