TruFin Agrees to Sell Playstack Stake for £112.4 Million
TruFin has conditionally agreed to sell its 84.5% stake in playstack to Integrated Media Company, a move that would hand control of the Balatro publisher to the owner of Fandom and Gamespot. The deal is still subject to a shareholder vote, but TruFin has already recommended approval. If it clears that hurdle, the company expects about £112.4 million in net cash proceeds.
TruFin’s £112.4 million payout
£112.4 million is the cash TruFin expects to receive after selling its 84.5% stake, and the size of that payout explains why the board is treating the transaction as a capital-allocation event rather than just a portfolio change. James van den Bergh said on May 21 that the disposal of Playstack represents a milestone for TruFin and a clear demonstration of its disciplined approach to capital allocation and value creation.
84.5% is a controlling share, so the sale would move Playstack from TruFin’s balance sheet to Integrated Media Company, a vehicle for the assets and private equity firm TPG. That puts ownership of a publisher behind Balatro, Abiotic Factor, and The Rise of the Golden Idol into new hands while leaving TruFin with cash instead of operating exposure.
Playstack’s revenue base
£55.3 million in gross revenue during 2025 shows why the asset has drawn buyer interest: the publisher’s top line rose 24% year on year and accounted for 83.9% of TruFin’s total revenue. Earlier this year, TruFin also said 85% of Playstack’s games provide a positive return, a figure that points to a business with unusually concentrated importance inside the group.
May 22 added the clearest operational signal for Playstack’s staff and partners. Harvey Elliott said the company is entering its next chapter with a new investment partner, but added that the change is in ownership rather than identity, and that the team, strategy, and commitment to publishing premium indie games remain exactly the same.
IMC and the shareholder vote
Integrated Media Company already owns Fandom, Gamespot, and Screen Junkies, so the buyer is not a passive financial backer but a media owner with a broader digital footprint. That makes the shareholder vote the practical gatekeeper: until investors approve the sale, the transaction does not move from agreement to completion.
For TruFin holders, the issue is straightforward. Backing the sale would convert a majority stake in a fast-growing games publisher into cash, while leaving Playstack to start its next phase under IMC ownership. Van den Bergh said IMC is a superb platform for the next stage in Playstack’s journey, and the vote will decide whether shareholders accept that trade-off.
