Games Global readies for IPO on New York Stock Exchange

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Games Global has registered an initial public offering (IPO) with the New York Stock Exchange (NYSE).

In a filing with the SEC, the iGaming supplier said it intended to trade on the NYSE under the GGL symbol. It also confirmed that JPMorgan, Jeffries and Macquarie Capital are joint book-running managers for the IPO and Cooley LLP is representing the firm regarding certain U.S. federal security rules.

In a statement announcing the news, the company did not indicate the number of shares that will be on offer, the price range of the shares, and the timeline in which the IPO will take place.

The IPO filing lists Walter Bugno as Games Global’s CEO and director and Timothy Mickley as CFO and director.

According to the company, it will be classified as an “emerging growth company” and a “foreign private issuer” by the SEC and therefore must submit certain reporting requirements for the IPO filing and future filings.

Games Global reports 80% revenue growth in 2023

In the full Form F-1 filing Games Global posted its full-year results for 2023 which revealed that the company generated $327.5 million in revenue. This figure represented an 82.3% year-on-year increase from the $191.4 million it reported last year.

After deducting general and administrative expenses and the cost of revenue the company posted pre-tax profits of $125.8 million, up from $110.6 million in the corresponding period in 2022.

Founded in 2021, the company services more than 600 global gaming brands and boasts over 1,300 games. 

Last year the company acquired Digital Gaming Corporation (DGC) from Super Group to help aid its growth in the regulated U.S. iGaming market. At the time of the acquisition, DGC had licenses to operate in Pennsylvania, New Jersey, Michigan and Connecticut.