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Online casino supplier Games Global has made public an SEC filing detailing plans to list on the New York Stock Exchange (NYSE) in an IPO.

The offering, which is expected to raise $100m, would see the Isle of Man-registered business snub the London capital markets in favour of a US listing.

Companies are increasingly looking to the US to list, including FanDuel-owner Flutter Entertainment which is in the process of moving its primary listing from the London Stock Exchange to the NYSE.

Games Global is currently a private company led by CEO Walter Bugno (pictured) and owned by investment management company Zinnia Group.

Post-IPO, the business will be listed on the NYSE under the ticker symbol GGL.

Zinnia will retain over 50% of the business’ shares following completion of the IPO.

The fund will not receive any of the proceeds of the IPO, which will instead be directed towards corporate purposes including improving Games Global’s technical infrastructure.

The proceeds will also be used to boost the firm’s research and development efforts, expand its sales and marketing operations, and enter new markets.

The supplier added it could also use the money for M&A purposes but has not yet committed to any deal.

Games Global’s US strategy

Games Global said it is in a good position to become a leading US iGaming supplier.

It pointed to the strength of its relationships with major US online casino operators and its large catalogue of games as evidence for this.

Games Global also said its global infrastructure would allow it to continue to innovate while maintaining full control over the distribution of its games.

The business highlighted its February acquisition of Digital Gaming Corporation’s B2B assets from Super Group as proof of its expanding US operations.

The company added it intends to launch its live casino product in the US by the end of 2024.

In line with SEC requirements, the provider revealed previously undisclosed details about its financial statements.

Games Global reported a 23.4% year-on-year increase in revenue to €273.2m for the nine-month period ending 31 December.

This resulted in EBITDA of €120.8m, up 9.9%. Net profit the period stood at €79.1m, a slight decrease from the previous nine-month period. ​                ​

The provider said it had 350 customers across 600 brands as of 31 December 2023, up from the 320 recorded in 2022.

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