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What smart money is saying about Games WorkshopUnited Kingdom flag

GAW.L · Consumer Cyclical · Leisure

2 funds in our archive have pitched Games Workshop — most recently Guinness Pan-European Equity Income Fund in June 2026.

Company profile

Games Workshop Group PLC, established in Nottingham, UK in 1991, operates as a multinational company specializing in the creation, production, and worldwide distribution of miniature wargames and figures. Its operations are divided into two main segments: Core and Licensing, with its global footprint spanning the United Kingdom, Continental Europe, North America, Australia, New Zealand, and Asia. The company is widely recognized for its prominent game systems, including Warhammer: Age of Sigmar and Warhammer 40,000, alongside the related Horus Heresy series. Beyond its core tabletop offerings, Games Workshop expands its universe through its Black Library imprint, which publishes a variety of literary content from short stories and audio dramas to full-length novels and audiobooks. Furthermore, the company is involved in developing digital content for television and animated productions. In addition to its main product lines, Games Workshop supplies painting and modelling accessories, boxed game sets, and gifts. It also holds interests in newsstand and trustee businesses. Products reach consumers through a diverse network, including its 518 company-owned retail stores across 23 countries (comprising 400 single-staff and 118 multi-staff locations), its official warhammer-community.com website, social media platforms, and various third-party channels such as physical bookstores, online platforms, and specialist retailers.

Fund coverage · 2 theses

  • Guinness Pan-European Equity Income Fund
    June 2026

    Games Workshop is a high-quality Warhammer business with strong pricing power, loyal customers, high cash generation, and growth runway.

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  • Lindsell Train Global Equity Fund
    August 2025

    Games Workshop is a uniquely durable compounder with strong pricing power, iconic IP, and significant growth potential, having achieved impressive financial metrics and a passionate global fanbase around its Warhammer franchises.

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