Games Global has postponed its initial public offering in the US citing "current market conditions."
A company statement said that it would instead look to consolidate its recent progress in the market.
CEO Walter Bugno insisted that while the supplier is “disappointed” at the development, the IPO was “an accelerator” but “not an absolute necessity.”
The company said that investor interest was “strong” in the recently announced move, but the board of directors “believes it is in the best interests of its stakeholders to delay the offering at this time and will continue to monitor the timing for the proposed offering.”
Bugno added: “Our team remains committed to delivering the most innovative games on the market. We will continue to monitor the capital markets going forward and make the appropriate reconsiderations as to an IPO in the future.”
