Member Article

GAME confirms intention to float

Video games retailer GAME has announced its intention to float on the main market of the London Stock Exchange.

The UK and Spain retailer has undergone a major restructuring since being acquired by investment firm OpCapita.

Over 270 stores were closed to streamline GAME’s portfolio to 560 outlets across the UK and Spain.

The firm now estimates that it has a 33% share of the UK video games, hardware and accessories market - by revenue - and a 35% share in Spain.

For the 26-week period ended January 25 2014, the Group generated revenue of £586.4 million, compared with £427.3 million the year before.

David Hamid, non-executive Chairman of GAME Digital plc said: “The turnaround of the GAME business is remarkable. GAME in the UK has been transformed and strengthened, while GAME in Spain has proved its resilience. The Group now has exciting prospects for the future and I pay tribute to the colleagues within the business who have achieved this.

“We have a great team. The retail landscape is ever-changing and the business has proved it is capable of taking advantage of that pace of change.

“I look forward in particular to rolling out our ground-breaking digital strategy, which should underpin the business for many years to come.”

This was posted in Bdaily's Members' News section by Tom Keighley .