Game retailer GameStop is exiting the Spanish video game market and is selling some of its existing stores to GAME, the company announced today.
In a statement, executive vice president for GameStop Michael Mauler said that the company had evauluated the current market and come to the conclusion that its Spanish outlets were not in the best interest of the company.
As it stands today, we believe other international markets better match our operating criteria and as such have decided to redeploy our resources in other areas with the greatest potential for return.
Mauler also noted that the experience GAME had would allow it to take up where GameStop was leaving off.
With its existing presence in Spain, GAME is the logical company to acquire our stores.
However, not all of GameStop’s 70 Spanish stores will be bought by GAME, and those not transfered over will be shut down, the company said.
The exact pricing of the deal is still unknown, and the deal will still need to be approved by the Spanish Competition Authority.