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The Isle of Man-headquartered Games Global Limited has filed the paperwork to have an initial public offering (IPO) in the United States as it looks to cement itself as a leading supplier in the North American market.
“The timing of the offering, number of shares to be offered and the price range for the proposed offering have not yet been determined,” according to a Games Global announcement on April 17.
UK-based Games Global applied to list its ordinary shares on the New York Stock Exchange (NYSE) under the symbol "GGL".
The company, which has gambling licences in 16 jurisdictions, reported that its revenue reached €306.9m for the year ending March 31, 2023, compared with €168.3m during the same period in 2022, according to its U.S. Securities and Exchange Commission (SEC) filing.
Its annual profit was €107.8m in 2023, compared with €97.3m in 2022.
In December 2023, the company had more than 7.3m unique monthly active players making €6.5bn in wagers.
The online casino game supplier has along with its partners developed more than 1,300 proprietary games over the past 20 years and claims to have one of the largest networks of exclusive online gambling content studios, including 40 exclusive studios.
Slot games account for most of the company's revenue, but its product portfolio includes table games, video poker, video bingo, game show games, crash games and live casino games.
Outside North America and the European markets, Games Global believes it has opportunities in several jurisdictions that are considering regulations for online casino games, including Ireland, New Zealand and France.
The company sees a “significant opportunity” in the Latin American market, highlighting Brazil, Peru and Chile as potential new market opportunities for its business.
Additionally, the company is targeting entry into the South African market by the end of 2024.
The document also includes a long list of potential risks that Global Games faces, including competition, negative media coverage of gambling and the “extensive and changing law and regulations” surrounding gambling.
