Games Global postpones IPO as it scales up strategic partnerships

Lea Hogg May 14, 2024

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Games Global postpones IPO as it scales up strategic partnerships

Games Global, a leading developer, distributor, and marketer of innovative online, casino-style gaming content, recently announced the postponement of its initial public offering (IPO) in the US. This decision, while surprising to some, was made in the best interest of stakeholders. The company’s Board of Directors attributed this decision to the company’s continued positive performance and expected trajectory following its recent US launch.

The journey of Games Global towards its IPO began in mid-April when the company applied for an IPO with shares to be sold under the ‘GGL’ ticker on the New York Stock Exchange. However, the filing to the US Securities and Exchange Commission (SEC) has yet to go live.

Games Global CEO Walter Bugno expressed disappointment at not entering the public markets in the near term but emphasized that the IPO was an accelerator, not an absolute necessity, for their business strategy. He stated that the interactions with investors during the IPO process further cemented their confidence in their strategy and the uniqueness of what they are building at Games Global.

The decision to postpone the IPO is reflected in the range of partnerships undertaken by the business in the year so far. In January, Games Global partnered with online casino operator Rootz and VegasSlotsOnline, and later in the month expanded its partnership deal with bet365. In February, Games Global partnered with Videoslots and Mr. Vegas to provide the platforms with live casino content from its OnAir Entertainment studio. Most recently in May, Games Global partnered with the UFC to produce a line of UFC-themed slot games.

Strategic adaptability

Games Global has a rich history in the iGaming industry. The company has been at the forefront of providing exclusive games from talented studios and a record-breaking progressive jackpot network. This has helped operators level up and create their perfect lobby. The company’s operations are licensed and regulated in Great Britain by the Gambling Commission and in Malta by the Malta Gaming Authority.

The company’s decision to postpone its IPO is a strategic move that reflects its current business development and the health of its balance sheet. Despite the postponement, Games Global intends to continue monitoring the market for opportunities for a potential IPO launch and additional business development. This decision underscores the company’s commitment to its stakeholders and its confidence in its business strategy.