Games Global confirms details of its IPO

IPO signs with skyline behind
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Games Global has confirmed the launch of its initial public offering (IPO).

The iGaming supplier revealed that a total of 14.5 million ordinary shares will be made available, and are expected to sell for between $16 and $19 per share.

The offering will consist of 6 million shares offered by Games Global with a further 8.5 million shares to be sold by Games Global’s existing shareholders.

Underwriters will also have a 30-day option to purchase an additional 2.175 million ordinary shares from the existing shareholders.

Earlier this month the company registered for the IPO with the New York Stock Exchange (NYSE). In a filing with the SEC, it confirmed that it intended to trade on the NYSE under the GGL symbol.

JP Morgan, Jefferies and Macquarie Capital are acting as joint lead book-running managers for the IPO and Barclays and BTIG will be serving as additional book-running managers.

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 was founded in 2021 and 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.

Games Global increased revenue by 82.3% in 2023

As part of its 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.