iGaming Supplier Games Global Files for IPO on the NYSE

Article by : Erik Gibbs Apr 21, 2024

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Games Global, a supplier of gaming content, has announced its intention to file for an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company, which is set to trade under the ticker symbol “GGL,” is yet to release specific details regarding the timing, number of shares, and price range for the offering.

Established on the Isle of Man, Games Global has made a name for itself as a supplier of a wide array of igaming content. It boasts over 1,300 games developed in collaboration with more than 50 studio partners.

This portfolio was bolstered in 2021 following the strategic acquisition of Microgaming’s catalog of gaming content, marking a significant expansion of Games Global’s offerings.

A trio of financial service giants—JPMorgan, Macquarie Capital, and Jefferies—are managing the IPO process as joint book-running managers. Cooley LLP provides legal expertise and is tasked with ensuring that Games Global’s IPO adheres to the stringent compliance requirements of US federal security laws.

Upon approval, this move will represent Games Global’s inaugural appearance on the NYSE, a milestone that underscores the company’s growth trajectory and market confidence.

Designated as an “emerging growth company” and a “foreign private issuer” by the US Securities and Exchange Commission (SEC), Games Global is navigating the complex regulatory landscape with a clear strategic vision.

The leadership team, comprising Walter Bugno and Timothy Mickley as CEO and CFO respectively, brings a wealth of experience and a proven track record of steering the company towards sustainable growth.

The capital raised from the IPO is earmarked for further investment in research and development services, as well as bolstering sales and marketing operations, signaling Games Global’s commitment to innovation and market expansion.

This is underscored by the company’s financial performance, as reported in the Form F-1 filing. The filing indicates a full-year revenue of $326.7 million for 2023, an impressive 82.3% increase from the previous year.

Games Global’s IPO marks a significant milestone for the company and reflects the current state of the iGaming sector’s economic health. A successful listing on the NYSE would affirm Games Global’s business strategy and market position and could inspire other companies in the iGaming industry to explore similar growth opportunities.