TV is a better fit for same-room multiplayer. Could even do multi screen games like with the Wii U. Trouble is the GPU is a bit on the weak side, it's fine for the 4" Nexus but probably won't scale up to 1080p
So is the Galaxy Nexus (which this shares a SoC with), and it's considered weak on there. It's unlikely blowing the output up from 4.7" to 47" will be very pretty.