GCL Global Holdings is a Singapore-based video game distributor, publisher, and marketer focused primarily on Asia. The core business — roughly 87% of revenue — is game distribution, operated through its Epicsoft subsidiaries across Southeast Asia, Hong Kong, Japan, South Korea, and Taiwan, as well as its 2Game digital platform, which sells activation keys directly to consumers and resellers globally. GCL acts as a regional middleman between major international publishers (Sega, Take-Two, CD Projekt, Warner Bros. Games) and end consumers, selling through a network of over 2,100 physical and online retail stores. GCL licenses distribution rights for specific titles in specific territories, buys physical copies or digital activation keys at wholesale, and resells them at a markup. The shift from physical discs to digital keys is a meaningful margin driver, as digital eliminates manufacturing and logistics costs. GCL's publishing arm, 4Divinity (~11% of revenue), partners with independent developers by providing upfront advances and marketing support, then distributes titles on Steam, PlayStation Network, and Xbox. The business is title-dependent — Black Myth: Wukong alone drove the majority of FY25 publishing revenue. A small media segment, Titan Digital Media, offers influencer marketing and video content services. GCL's growth strategy centers on expanding into gaming hardware via its acquisition of Ban Leong Technologies, growing 2Game into new geographies, and investing in owned game IP with ambitions to monetize across film and TV.