US IPO Week Ahead: Online casino games publisher bets on the IPO market
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One IPO is currently scheduled for the week ahead, though some small issuers may join the calendar late.
Games Global () plans to raise $254 million at a $2.0 billion market cap. The company develops and distributes casino-style gaming content, as well as provides B2B solutions to online gaming operators. Its 40 in-house and partnered studios have developed more than 1,300 games over the past 20 years, all of which are now part of its portfolio. The company is profitable and growing, though its revenue has been concentrated to one customer.
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The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 5/9/2024, the Renaissance IPO Index was up 2.5% year-to-date, while the S&P 500 was up 9.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue () and Nu Holdings (). The Renaissance International IPO Index was up 4.0% year-to-date, while the ACWX was up 5.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Porsche.
