MCV understands that American retail giant Walmart has made contact with GAME about a possible acquisition of the retailer.
Walmart is the world's 18th largest public corporation with over 9,000 stores worldwide. It is also the owner of UK supermarket Asda. In 2011 it generated worldwide revenue of $422bn.
In February 2010 Walmart acquired streaming video service Vudu in a deal understood to be worth around $100m.
Rival games retailer GameStop is thought to be holding out for a slip into administration before making its move. News of interest from Walmart could potentially force its hand.
A Walmart acquisition would likely be better news for GAME's staff than a takeover by either an investment fund or retail salvage specialist, as it would be more inclined to reform operations as opposed to stripping and rebuilding the company.
Other companies linked with a possible buyout include retail strategist Hilco and Comet owners OpCapita.
MCV today reported that investment firm Blueshore Global Equity has acquired an eight per cent stake in the chain.
A Walmart acquisition would be a dramatic development in what has been an entrenched battle between specialists and supermarkets that has defined the modern console generation on the UK High Street.
When approached by MCV a GAME spokesperson said that the company does not comment on rumour and speculation.