Game Digital

LN: GMD

£53.4m market cap

30.2p last close

Game Digital is the leading multichannel specialist retailer of video games in the UK and Spain, with 274 stores in the UK, 265 stores in Spain and over 30% market share.

Investment summary

On 5 June 2019, Sports Direct announced a final mandatory cash offer of 30.0p per share for Game Digital, valuing the issued and to be issued share capital at £51.9m and representing a 27% premium to the closing share price on the previous day. Following the publication of Sports Direct’s formal offer document on 20 June 2019, the board of Game Digital has recommended that shareholders accept the offer.

Y/E Jul
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2017A 782.9 8.0 (4.3) (3.7) N/A 1.2
2018A 782.3 10.1 (3.5) (3.7) N/A 17.2
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A
Last updated on 25/07/2019
Industry outlook

For the purposes of the Takeover Code, Edison Investment Research is deemed to be connected with Game Digital. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently, we have removed our estimates until the offer period ends.

Last updated on 25/07/2019
Sector
Consumer
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 1.5 14.4 6.7
Relative* 0.2 14.3 10.2
52-week high/low 36.2p/21.9p
*% relative to local index
Key management
John E. Jackson Chairman
Martyn Gibbs CEO

Content on Game Digital