Games Global files for IPO on New York Stock Exchange

• Industry News
• 23. 04. 2024.
• Jelena Radisavljevic

Online casino giant Games Global has revealed they have submitted a filing to the United States Securities and Exchange Commission to list their ordinary shares on the New York Stock Exchange.

Games Global’s IPO filing with the NYSE, under the symbol GGL, signals growth plans in the gaming sector. Investor confidence is evident with JPMorgan, Jeffries, and Macquarie Capital as book-runners. Classified as an “emerging growth company” and a foreign private issuer by the SEC, Games Global navigates specific reporting requirements.

CEO Walter Bugno and CFO Timothy Mickley lead the company through this strategic move. The discretion over net proceeds underscores the commitment to shareholder value.

Games Global’s IPO surge signals industry dominance

Games Global’s IPO filing sets the stage for strategic growth initiatives. The company plans to use the IPO proceeds to enhance research and development capabilities and strengthen sales and marketing operations.

In its Form F-1 filing, Games Global reported robust financial performance for 2023. Revenue surged to €306.9 million, marking an impressive 82.3% year-on-year increase. Despite operating expenses, the company achieved a commendable pre-tax profit of €110.6 million, reflecting a 10.8% yearly growth.

Furthermore, Games Global disclosed its performance for the first nine months of 2023, with revenue totalling €273.2 million and a profit of €79.1 million, underscoring sustained momentum and profitability.

Inside Lottomatica’s record-breaking IPO triumph

In April 2023, Lottomatica made waves in the industry with its €2.67 billion IPO, conducted over a four-day period from the 24th to the 27th of the month. The IPO’s primary objective was to address debt obligations, particularly those held by its parent company, Apollo Global Management.

To achieve this, Lottomatica aimed to raise €600 million, with a significant portion of newly issued stock totalling €425 million. Additionally, existing investor Gamma Topco intended to sell €175 million worth of shares as part of the offering.

Following the successful IPO, Lottomatica achieved a significant milestone by debuting on the Milan Euronext exchange, positioning itself for continued growth and expansion. The substantial funds raised through the IPO alleviated debt pressures. They provided the company with additional capital to pursue strategic initiatives and capitalize on emerging opportunities in the gaming and lottery industry.

I’m convinced of the immense potential Games Global’s IPO and Lottomatica’s successful offering hold for the gaming and lottery sectors. These strategic moves herald an era of expansion and innovation, fuelling my optimism for their future growth.