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UK retailer Game files for $672 million IPO
UK retailer Game files for $672 million IPO
May 19, 2014 | By Mike Rose

May 19, 2014 | By Mike Rose
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More: Console/PC, Business/Marketing



Newsbrief: UK retailer Game nearly went under back in 2012, due to poor retail game sales. Yet here we are, two years later, and the company today filed for a 400 million ($672 million) initial public offering.

This valuation is up from the 300 million ($504 million) report earlier this year. According to the Telegraph, Game Group will list on the London Stock Exchange in the next month.

So how did Game turn it around so quickly? Part of it is down to closing more than 300 stores worldwide, and completely moving out of Australia, Portugal, Scandinavia, Portugal and Eastern Europe, focusing instead on the UK and France.

But the launch of the next generation consoles, PlayStation 4 and Xbox One, also helped the company, while the release of Grand Theft Auto V also did wonders for the retailer.


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Comments


Aiden Eades
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Honestly I could have predicted when it was going under before, I think anyone could have. Town I live in is pretty small and we had two game stores, When I went away to Uni there were 5 stores pretty much on the same street. Although personally I wish they'd kept the gamestation brand rather than the GAME brand.

E Zachary Knight
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"completely moving out of Australia, Portugal, Scandinavia, France, Portugal and Eastern Europe, focusing instead on the UK and France."

They moved out of France to focus on France?

Alan Barton
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They have now edited it to read ... "completely moving out of Australia, Portugal, Scandinavia, Portugal and Eastern Europe, focusing instead on the UK and France."

They must really dislike Portugal. :)

(Looks like someone at Gamasutra's offices need more coffee this morning ;)


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