Isle of Man-based utterly gambling software program company Video games Global Ltd. is gearing up for its US initial public offering (IPO) with bold plans to elevate roughly $254 million. The company plans to list on the Contemporary York Stock Exchange underneath the logo GGL, with underwriters together with J.P. Morgan, Jefferies, Macquarie Capital, and Barclays.
The Switch Shows Video games Global’s US Focal level
Primarily based on a late Thursday submitting, Video games Global plans to present 14.5 million shares at an estimated tag differ of $16 to $19 per half. The IPO will birth buying and selling on 13 Would possibly possibly maybe maybe as the company is expected to create a market capitalization of spherical $2 billion. Video games Global intends to promote 6 million shares out of its 14.5 million, while the novel shareholder, Zinnia Ltd., will provide the final 8.5 million shares.
Following the IPO, Zinnia Ltd. will motivate roughly 85% ownership stake in Video games Global, assuming underwriters say their approach to aquire extra frequent shares. The software program company announced its plans to head world final month, hoping to capitalize on the rising adoption of legalized gambling and enable new strategic partnerships.
Video games Global was once integrated three years previously with a strategic imaginative and prescient to change into the biggest and most revolutionary iGaming studio and distribution ecosystem globally. The company reported a noteworthy fat-year 2023 revenue of €107.84 million ($116.29 million) and revenue of €306.93 million ($330.97 million) demonstrating important development from the outdated year.
The Company Remains an Industry Chief
The trip into the US market was once facilitated by Video games Global’s acquisition of assets of Digital Gaming Corp. in February. This trip greatly expanded the company’s distribution coverage to states a lot like Contemporary Jersey, Pennsylvania, and Michigan. Video games Global plans extra growth into Connecticut and West Virginia while additionally eyeing states pondering online on line casino regulations in the coming years.
Video games Global remains at the forefront of innovation, securing three prestigious awards for the length of ICE London for its continued excellence. CEO Walter Bugno reaffirmed the company’s dedication to turning in unmatched merchandise and experiences for avid gamers while final before industry developments. 2023 saw Video games Global birth bigger than 240 titles, solidifying its design as a leading provider.
The US represents a profitable replacement for Video games Global, being the biggest iGaming jurisdiction globally, with a projected addressable market of roughly $26 billion by 2028 for diverse online gaming segments. The company enters the market at the very most sharp time as more states set in thoughts regulations legalizing online wagering, paving the manner for collaborations with leading operators.
Supply:GamblingNews
