The second hand games reseller believed to be behind Best Buy's fresh tirade on the US pre-owned games market has filed an S-1 for common stock offering as it looks to boost the mass-market credentials of the sector.
Game Trading Technologies is a fast-growing business that deals with the acquisition, repacking and bulk-selling of used video games to larger retailers
We believe the move sheds some light on efforts by traditional and big box retailers to buy and sell used games,” Lazard Capital's Colin Sebastian stated.
Specifically, GTT is partnering with large, national retailers to drive awareness and adoption of used game trading among mainstream consumers, and in the process broaden the market for used games.
According to GTT, in the US there are more than 3.4bn units of pre-owned video game products that are suitable for trading.
We believe that the company has relationships with national retail chains, including Wal-Mart, Best Buy, Toys-R-Us, and 7-11, among others, and likely was a contributor to Best Buy's recent used game trial in 72 stores.”