Games Global Ltd. Eyes Major US Initial Public Offering
Isle of Man-based gambling software company, Games Global Ltd., is set to make a impact on the U.S. stock market with its upcoming initial public offering (IPO). The company plans to raise approximately $254 million by listing on the New York Stock Exchange under the ticker symbol GGL.
Details of the IPO Launch
Games Global has announced an IPO pricing strategy, with 14.5 million shares priced between $16 to $19 each. The public offering is scheduled to commence on May 13, and the company is poised to achieve a market valuation near $2 billion.
Of the total shares, Games Global will sell 6 million, while Zinnia Ltd., an existing shareholder, will offer the remaining 8.5 million shares. Post-IPO, Zinnia Ltd. is expected to retain approximately an 85% ownership stake, assuming underwriters exercise their option to purchase additional shares.
Strategic Expansion and Market Penetration
Founded three years ago with the vision to dominate the global iGaming studio and distribution ecosystem, Games Global has demonstrated impressive financial performance. In 2023, the company reported profits of €107.84 million ($116.29 million) and revenue of €306.93 million ($330.97 million), signaling robust growth year-over-year.
The entry into the U.S. market has been strategically bolstered by the acquisition of Digital Gaming Corp. assets earlier in February, extending Games Global’s reach into states like New Jersey, Pennsylvania, and Michigan. Further expansions are planned for Connecticut and West Virginia, with an eye on other states that may legalize online casino operations in the future.
Voice from Leadership
CEO of Games Global, Walter Bugno emphasized the company’s commitment to innovation and excellence, stating, “We remain dedicated to delivering unmatched products and experiences for our players while staying ahead of industry trends.” In 2023 alone, the company launched over 240 new titles, reinforcing its position as a leading content provider.
Recommended