Games Global Postpones Initial Public Offering

Rhea-AI Summary

Games Global has announced the postponement of its initial public offering (IPO) in the United States, despite strong investor interest. The company cites its continued positive performance and recent entry into the U.S. gaming market as reasons for the delay. The Board of Directors believes this decision aligns with stakeholders' best interests and will monitor the timing for the IPO. CEO Walter Bugno emphasized the company's strong balance sheet, healthy margins, and meaningful growth. The company plans to continue delivering innovative games and may reconsider an IPO in the future. The registration statement for the securities has been filed but is not yet effective, and no securities can be sold or purchased until it becomes effective.

Positive

• Strong investor interest noted for the IPO.
• Recent successful entry into the U.S. gaming market.
• Company maintains a strong balance sheet and healthy margins.
• Meaningful growth reported by the company.
• Commitment to delivering innovative games.

Negative

• Postponement of the IPO may raise concerns about market conditions.
• Potential delays in capital raising through public markets.
• Registration statement for the IPO not yet effective, preventing immediate market access.

LONDON--(BUSINESS WIRE)-- Games Global Limited (“Games Global” or “the Company”) today announced that it has postponed its previously announced initial public offering in the United States. While investor interest was strong, given the continued positive performance of the Company’s underlying business and anticipated trajectory following its recent entry to the U.S. gaming market earlier this year, the Company’s Board of Directors believes it is in the best interests of its stakeholders to delay the offering at this time and will continue to monitor the timing for the proposed offering. The Company will continue to evaluate all strategic opportunities that align with the Company’s long-term strategy.

“While we are disappointed not to be entering the public markets in the near term, meeting with investors during this IPO process has further cemented our confidence in our strategy and that what we are building at Games Global is unique,” said Walter Bugno, CEO of Games Global. “With a strong balance sheet, healthy margins, and meaningful growth, an IPO at this point in time was an accelerator, not an absolute necessity, for our business strategy,” continued Bugno. “Our team remains committed to delivering the most innovative games on the market. We will continue to monitor the capital markets going forward and make the appropriate reconsiderations as to an IPO in the future.”

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In any member state of the European Economic Area (the "EEA") this announcement, and the offering, are only addressed to and directed at persons who are "qualified investors" ("Qualified Investors") within the meaning of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). In the United Kingdom, this announcement, and the offering, are only addressed to and directed at persons who are “qualified investors” within the meaning of the Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are high net worth entities who fall within Article 49(2)(a) to (d) of the Order, or (iii) are persons to whom it may otherwise lawfully be communicated (all such persons being referred to as "relevant persons"). This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from:

• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com or postsalemanualrequests@broadridge.com;
• Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by phone at (877) 821-7388, or by email at prospectus_department@jefferies.com; or
• Macquarie Capital (USA) Inc., Attention: Equity Syndicate Department, 125 West 55th Street, New York, NY 10019, or by email at MacquarieEquitySyndicateUSA@macquarie.com

About Games Global

Games Global is a leading developer, distributor and marketer of innovative online, casino-style gaming (“iGaming”) content and integrated business-to-business solutions to iGaming operators in regulated markets globally based on the size of its studio network. Games Global has one of the largest networks of exclusive iGaming content studios, and its 40 in-house and partnered studios have developed more than 1,300 proprietary games over the past 20 years. With a market-leading offering including slot games, table games, video poker, video bingo, progressive jackpots, game show games, crash games and live casino games, Games Global is a key content provider to iGaming operators, supporting the rapid growth of iGaming in regulated markets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513132745/en/

Media

media@gamesglobal.com

Investors

investors@gamesglobal.com

Source: Games Global Limited

FAQ

Why did Games Global postpone its IPO?

Games Global postponed its IPO to better align with stakeholder interests and due to its positive performance and recent entry into the U.S. gaming market.

When did Games Global announce the postponement of its IPO?

Games Global announced the postponement of its IPO on [specific date in press release].

How has Games Global performed recently?

Games Global has reported strong performance, a successful entry into the U.S. gaming market, a strong balance sheet, and healthy margins.

Will Games Global consider an IPO in the future?

Yes, Games Global plans to monitor the capital markets and reconsider an IPO when appropriate.

What are the implications of the postponed IPO for Games Global?

The postponed IPO may delay capital raising through public markets and raise concerns about current market conditions.