Gamesworld goes on the growth path

Games RetailingOne of Ireland's biggest video games retailers, Gamesworld, has launched an aggressive expansion campaign following its takeover by GameStop Corporation, the largest equivalent in the US, and is seeking new outlets in 23 locations around the Republic and 10 in Northern Ireland.

The expansion plan follows the sale of the company by the two men who launched it less than a decade ago at the rear of a bookstore in Dublin's Abbey Street. The founders, Kevin Neary and Michael Finucane, will retain a significant shareholding in the group and will remain on as managing director and commercial director respectively. The finance director and recent addition to the shareholders, Paul Hennessy, who joined the group in 2000, will also remain in his current role. They will be joined on the board by Dubliner Niall Lawlor who is president of GameStop.com.

Gamesworld Group Ltd is the holding company for the group that comprises Gamesworld Ltd, the retail arm, Gamesworld Distribution Ltd, the wholesale arm, and Gamesworld.com Ltd, the e-tailing aspect of the business.

It currently has 11 retail outlets: two each in Dublin and Cork, and one in Kilkenny, Galway, Waterford, Clonmel, Ennis, Newbridge and Limerick. Turnover in the year to last April was more than €15 million.

After announcing its controlling stake in August, GameStop Corporation said that it would expand the business aggressively, creating up to 100 jobs. GameStop has 1,300 outlets in the US with sales of €1.35 billion last year.

Gamesworld was founded in 1994 and has 11 shops and a distribution business in the Republic. As well as video games, it sells video game hardware - like the Sony Playstation - plus entertainment software and related accessories for PCs.

With the market for video games expected to continue expanding Gamesworld is hoping to grow further.

"We are looking for units of about 90 sq m (969 sq ft) in prime locations and centres in towns throughout the country," said Lisa McGrane of Jones Lang LaSalle which has been retained to locate suitable units.

"Gamesworld is prepared to sign long leases and we would like to discuss our plans and terms with landlords of suitable properties."

Further information is available from Lisa McGrane or George Ross of Jones Lang LaSalle at 01-6731600.