iGame Group "ready" for public listing
CEO Tommi Maijala says flotation will help further operator's consolidation plans
Nordic operator iGame Group is preparing itself for a public flotation, the operator’s chief executive has told eGaming Review.
Speaking to eGR, CEO Tommi Maijala said the firm was working towards a listing in Sweden to better position itself for future acquisitions, and was now waiting for the right moment to float.
“There is so much consolidation in the market,” Maijala said. “We were already prepared for an IPO a year ago, but then we had the merge [with Plus One Dreams].
“We are good to go, but the process is taking some time – all the due diligence work and preparation. We have to see how the market is looking,” he added.
iGame merged with fellow Malta licensee Plus One Dreams last year, and pledged at the time that the resulting company would become “one of the most important gaming companies in Europe”.
Maijala would not be drawn on a precise timescale of the IPO, but did say that further acquisitions were unlikely this summer as a result of preparations.
He added that future purchases would not be likely until the autumn, and said that one of the primary drivers of listing would be the ability to use shares as part compensation in acquisition costs.
iGame Group employs more than 100 staff in offices in Malta and Estonia, and operates a number of brands primarily aimed at the Scandinavian market, with a growing presence in Eastern Europe.