Online casino games developer Games Global sets terms for $254 million US IPO

Games Global, a global publisher of online betting and casino games, announced terms for its IPO on Thursday.

The Douglas, Isle of Man-based company plans to raise $254 million by offering 14.5 million shares (59% secondary) at a price range of $16 to $19. At the midpoint of the proposed range, Games Global would command a market value of $2.0 billion.

The company develops, distributes, and markets casino-style gaming content, and provides B2B solutions to online gaming operators. Games Global works with 40 in-house and partnered studios, which have developed more than 1,300 games over the past 20 years, all of which are now part of its portfolio. Its portfolio spans slot games, table games, video poker, video bingo, game show games, crash games, and live casino games.

Games Global was founded in 2021 and booked $383 million in revenue for the 12 months ended December 31, 2023. It plans to list on the NYSE under the symbol GGL. J.P. Morgan, Jefferies, Macquarie Capital, Barclays, and BTIG are the joint bookrunners on the deal. It is expected to price during the week of May 13, 2024.