Games Global appears to be undergoing a major corporate shake-up, as staff took to LinkedIn and social media to confirm widespread redundancies across multiple departments.
Yesterday evening, employees of the Isle of Man-based games developer announced their departures, stating that the company had entered a “corporate restructuring period”. Many have since activated the “Open to Work” status on LinkedIn, detailing their circumstances and seeking new roles.
The Isle of Man Department for Enterprise has since confirmed the layoffs, describing them as part of a broader “global review of operations”.
In a statement shared with Manx Radio, the department said: “The Department for Enterprise is aware that Games Global has recently undertaken a global review of operations which has resulted in the displacement of a number of positions within its Isle of Man office.
The Department understands this decision reflects efforts to enhance efficiency and align structures toward future growth, and has been implemented across its global operations, and is therefore not unique to the Isle of Man office.
While the loss of jobs is a difficult outcome of this decision, the nature of a strong economy means skills are in high demand.”
Games Global was founded in 2021 by former Lottomatica and IGT Plc executive Walter Bugno and partners, with the ambition of developing one of the industry’s most advanced gaming studios.
Entering the cutthroat games development market, Bugno and Games Global made a bold entry by acquiring the Quickfire games engine of Microgaming.
The acquisition instantly bolstered Games Global’s profile, providing it with a base in the Isle of Man and a distribution network of over 3,000 games and IPs serving a customer base of around 900 clients.
Supporting its start-up phase, in 2023 Games Global further expanded by acquiring the non-core B2B units of Super Group Plc, strengthening its operational presence on the Isle of Man.
Management pursued an aggressive strategy to build Games Global’s IP portfolio and challenge the valuations of established games studios in the iGaming sector, with leadership reportedly viewing a fast route to an IPO as part of its long-term vision.
Games Global has yet to specify the exact issues facing its business. iGX has reached out to senior executives to confirm the reasons behind the current round of redundancies.
