Games Global Limited

General Information
Business:

Note: Games Global Limited withdrew the registration for its IPO on May 13, 2024, in a letter to the U.S. Securities and Exchange Commission, visible in an online filing just before the closing bell – hours ahead of when the IPO had originally been expected to price.

We develop online casino games, including video poker. (Incorporated in the Isle of Man)

We are a leading developer, distributor and marketer of innovative online casino-style gaming (“iGaming”) content and integrated business-to-business (“B2B”) solutions to iGaming operators in regulated markets globally based on the size of our studio network. Based on our analysis of publicly available data, including the websites, public statements and accounts of our competitors, we believe that we have one of the largest networks of exclusive iGaming content studios, measured by the number of studios that develop our games. Our 40 in-house and partnered studios with whom we have exclusive rights have established operating histories predating the formation of our company. These studios have developed more than 1,300 proprietary games over the past 20 years (including predating the formation of our company), all of which are now part of our portfolio of games. We are a key content provider to iGaming operators, supporting the rapidly growing consumption of iGaming content through a diverse portfolio of what we believe to be market-leading offerings. While slot games (including progressive variants of slot games) have historically represented, and continue to represent, the vast majority of our revenue, our product portfolio also includes table games (including progressive variants of table games), video poker, video bingo, game show games, crash games and live casino games.

We have established positions in our existing markets in Europe and North America, based on our games’ underlying gross gaming revenue (GGR). In December 2023, we had more than 7.3 million unique monthly active players making €6.5 billion in wagers on our games across 8 billion paid spins (each spin, a “game round”) (compared to 5.3 million unique monthly active players making €5.6 billion in wagers on our games across 5.6 billion paid game rounds in December 2022). We released approximately 60 new game variants per month for game play in these jurisdictions during the nine months ended December 31, 2023 (compared to 33 new game variants per month during the nine months ended December 31, 2022) and offer some of the industry’s highest paying online progressive jackpots.

While our distribution of games to customers in North America was previously limited to customers in the Canadian market, in connection with our acquisition of the B2B assets of Digital Gaming Corporation USA (“DGC” and the acquisition of DGC (the “DGC Acquisition”) in February 2024, we expanded our business into the United States, whose states in the aggregate are forecast to represent the largest iGaming market globally according to H2 Gambling Capital (“H2GC”). 

Note: Net income and revenue are for the fiscal year that ended March 31, 2023.

(Note: Games Global Limited disclosed the terms for its IPO – 14.5 million shares at a price range of $16.00 to $19.00 to raise $253.75 million, if priced at the $17.50 mid-point – in an F-1/A filing dated May 2, 2024. Games Global is offering 6.0 million shares and the selling shareholder is offering 8.5 million shares, the prospectus says. Background: Games Global filed its F-1 on April 16, 2024, without disclosing terms for its IPO.)

 

Industry: Services - Amusement - Online gaming content
Employees: 994
Founded: 2021
Contact Information
Address 62 Circular Road Douglas Isle of Man IM1 1LA Tel: +44 1624 727515
Phone Number +44 1624 727515
Web Address http://www.gamesglobal.com/
View Prospectus: Games Global Limited
Financial Information
Market Cap $1960.35mil
Revenues $329.35 mil (last 12 months)
Net Income $115.71 mil (last 12 months)
IPO Profile
Symbol GGL
Exchange NYSE
Shares (millions): 14.5
Price range $16.00 - $19.00
Est. $ Volume $253.8 mil
Manager / Joint Managers J.P. Morgan/ Jefferies/ Macquarie Capital/ Barclays/ BTIG
CO-Managers
Expected To Trade: 5/14/2024
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change