GAME heads Down Under

The deal is worth A$3.8m (GBP 1.5m) and will see GAME claim a presence in the Australian market for the first time. Some A$1m will be reinvested in The Games Wizards (TGW) chain for at least the next 18 months.

TGW is based in Sydney and boasts 14 company-owned stores and eight franchises. In the financial year to June 30th it reported sales of A$19.7m (GBP 7.9m) and a loss of A$1.6m.

“Australia is an attractive games market with good growth dynamics and offers the potential to develop our international business further alongside our existing growth plans,” said GAME Group chief executive Martin Long.

“The acquisition of the The Games Wizards provides the group with an established business and a low cost entry to this important market. The specialist video games retail sector is already well established and in terms of software revenue Australasia is larger than Spain, Italy, Benelux and the Nordic region.”

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