GMG meaning in Business ?

Answer:

What is Game Group mean?

Game Retail Limited (doing business as GAME) is a British video game retailer, owned by Frasers Group since June 2019.

The company's origins lie in the founding of the Rhino Group by Terry Norris and Bev Ripley in 1992. A number of mergers and acquisitions followed during the 1990s, and in 1999, the company was purchased by Electronics Boutique Limited, which rebranded itself as The Game Group. The company continued to expand during the 2000s, purchasing several retailers including Gameswizards in Australia. In 2007, its parent company purchased its rival store, Gamestation.

In March 2012, several suppliers, including publishers Nintendo, Electronic Arts and Capcom refused to supply their latest products due to concerns over Game's creditworthiness. Game subsequently entered administration on 26 March 2012, and was purchased by OpCapita the following week. Baker Acquisitions was subsequently renamed Game Retail. The company reported a £10.4 million loss for the 12-month period from July 2016 to July 2017 in its full year results. In the corresponding 2015–2016 period, the company had a net profit of £7.1 million.

In June 2019, Game agreed to a takeover of the company by Frasers Group for £52 million. The group have since closed down some standalone Game outlets, reopening these as concessions inside nearby House of Fraser and Sports Direct stores, as well as expanding Game's online business.

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