Games Global Limited Files Registration Statement on Initial Public Offering

Games Global announced that it has registered to trade on the New York Stock Exchange (NYSE) under the ticker symbol GGL. A filing with the Securities and Exchange Commission (SEC) on April 16 notes that the leading software developer and distributor has three financial companies serving as joint book-running managers for the proposal. Those are J.P. Morgan, Jefferies, and Macquarie Capital.

At the same time, Barclays Bank is acting as the bookrunner for the offering.

Through filing this registration statement, Games Global hopes to provide an initial public offering (IPO) of its ordinary shares. Certain details have yet to be determined, including the timing of the offering, the number of shares that will be available and the price range for the proposal.

Cooley LLP represents a huge software brand about various U.S. federal security rules and regulations.

The SEC has classified Games Global as an “emerging growth company” and a “foreign private issuer” – something the game developer was ready to point out in its statement released the following day. Yet because of this, it must be prepared to submit to certain reporting requirements for the IPO filing. That’s something that will roll over into future filings, too.

Games Global also stated that it has “broad discretion” over how the net proceeds from its IPO will be utilised. The company intends to invest the leftover net proceeds in interest-bearing accounts.

In the filing for the IPO, Walter Bugno is named the Games Global CEO and director. Meanwhile, Timothy Mickley is highlighted as the CFO and director. A later amendment will likely come, noting any costs incurred by filing the IPO. Games Global has confirmed that it will cover any costs and expenses.

The registration statement filed with the SEC has not yet become effective. Before it comes into effect, securities cannot be sold, nor can offers be accepted for buys.

Revenue for Games Global in Full Year 2023 Increases by Over 80%

The net proceeds from the IPO will be used to fund several company purposes. This includes the improvement of research as well as development services. Games Global will also invest funds in its sales and marketing operations.

Within the full Form F-1 filing, the company outlined its results from 2023 for the full year. It was revealed that Games Global achieved €306.9 million in revenue for that period, marking a rise of 82.3% in a year-on-year (YoY) format.

It is also the case that sales, general and administrative expenses hit a level of €59.8 million, while the cost of revenue was €135.2 million. Deducting that from the overall revenue left a profit of €111.7 million. Removing the financial income at €1.3 million and finance expenses of €2.4 million means a pre-tax profit of €110.6 million.

With tax on Games Global’s profits standing at €2.7 million, the total profit experienced by the developer for the year stood at €107.8 million. That’s a YoY increase of 10.8%, highlighting a wonderful increase for the company in 2023.

Games Global also outlined what had been achieved in the first nine months of that year. A total of €273.2 million in revenue occurred, with a profit of €79.1 million. 

Games Global Listing Follows in the Footsteps of Other Successful IPOs

Not so long ago, the Lottomatica brand launched its own €2.67 billion IPO. This ran from April 24 to April 27 of 2023, and following the success of it, Lottomatica debuted on the Milan Euronext.

That IPO was launched to finance a certain debt partly owned by its parent company, Apollo Global Management. It sought to raise €600 million, and €425 million of that figure consisted solely of new stock being issued. A total of €175 million in shares were allocated and set to be sold by Gamma Topco. The company was already an existing investor in Lottomatica.

The IPO was hailed as a success by the company in February of 2024, stating that it had “exceeded” its expectations.

Doubtless, Games Global is looking to replicate that success with its IPO should it become effective.

It hasn’t stopped the developer from working in other areas. Only a few days ago, news came to light that the company is operating alongside Caesars Entertainment, helping to bolster the portfolio of online games it provides. Caesars Palace Frenzy, an online slot crafted by Games Global, is being launched in the iGaming market of New Jersey. Plans also see the game being introduced to the Michigan and Pennsylvania markets.

This is all part of Caesars' strategic plan to partner with the world’s best suppliers so it can deliver top-quality iGaming products. Caesars Palace Frenzy will operate exclusively with the online casino owned by the brand. It features free spins, a jackpot possibility, and excellent graphics with exciting gameplay.

To find out more about Games Global, check out this page.