Libera Gaming Operations, which operates pachinko gaming halls in Japan, filed on Friday with the SEC to raise up to $6 million in an initial public offering.
The Tokyo, Japan-based company plans to raise $6 million by offering 1 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Libera Gaming Operations would command a fully diluted market value of $72 million.
Libera operates pachinko halls in Japan, with a portfolio of 11 halls as of 3/15/24. The halls are venues for recreational arcade games "pachinko" and "pachislot," played with balls and tokens, respectively. The goal of the games is to obtain more balls and tokens and exchange them for prizes, some of which can be converted into cash. The pachinko and pachislot industry is highly regulated and not considered gambling since customers do not directly win cash.
Libera Gaming Operations was founded in 1965 and booked $41 million in revenue for the 12 months ended October 31, 2023. It plans to list on the NYSE American under the symbol LBRJ. The company filed confidentially on November 24, 2023. Boustead Securities is the sole bookrunner on the deal.
