Sports Direct to make £52m swoop for videogame retailer

Shirebrook-based Sports Direct Internationalis set to buy videogame retailer Sports Direct in a deal worth around £52m.

Sports Direct has been an investor in GAME since July 2017 and currently holds almost 39% of the company, meaning it is required to make a bid for the remainder of the company.

In February 2018, Sports Direct and GAME entered into a collaboration agreement covering the rollout of BELONG and GAME retail stores, including the entering into of concession agreements regarding the siting of BELONG arenas and/or GAME retail stores in Sports Direct locations.

A statement from Sports Direct said: “The retail and gaming sectors are fast moving and currently subject to challenging conditions. Sports Direct does not believe that, as a standalone business, GAME is able to weather the pressures that it is facing. Sports Direct believes that the Offer, in providing GAME with the wider benefit of Sports Direct’s operating and other experience and increased support, will secure GAME’s future and allow it to navigate these pressures whilst contributing to GAME’s long-term sustainability by escalating the evolution of the BELONG business and accelerating the next stage of GAME’s development.”