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Game highlights digital credentials as IPO plans are announced

Senior management at video game retailer Game Digital have today spoken of the company's "groundbreaking digital strategy", as the business confirmed its intention to proceed with an initial public offering (IPO).

In a statement detailing plans for the IPO, the business hailed its new omnichannel credentials and digital marketing potential, highlighting its 16 million rewards programme members across the UK and Spain, as well the technological revamp it has recently undertaken.

Game Group went into administration in April 2012, but has been restructured and streamlined under the ownership of private equity firm OpCapita and the new management team brought in, led by CEO Martyn Gibbs.

Over the last two years, Game has enhanced its focus on customer insight by investing in its CRM infrastructure and expertise. This has permitted the group to "implement direct personalised marketing, strengthen business planning procedures and support suppliers with product launches and product marketing", according to today's announcement.

Game's property estate now comprises 560 stores across the UK and Spain, which is down from 874 stores at the beginning of January 2012.

For the 26-week period ended 25 January 2014, the group generated revenue of £586.4 million, adjusted EBITDA of £50.8 million and cash from operations of £45.9 million, compared to £427.3 million, £24.5 million and £13.8 million, respectively, for the same period one year before.

David Hamid, non-executive chairman of GAME Digital, described Game's turnaround as "remarkable", adding: "Game in the UK has been transformed and strengthened, while Game in Spain has proved its resilience."

"The retail landscape is ever-changing and the business has proved it is capable of taking advantage of that pace of change," he explained. "I look forward in particular to rolling out our ground-breaking digital strategy, which should underpin the business for many years to come."

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