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Hobby games trade organisation GAMA is facing another shake-up of its senior leadership, with interim executive director Melinda Prickett and board vice president Ross Thompson both announcing they are leaving their roles.

Prickett’s departure is a significant blow for GAMA, having emerged as a key figure in stabilising the organisation and its finances following the resignation of long-serving executive director John Stacy last year.

She joined GAMA as its first chief operating officer in September 2025, before stepping up to become interim executive director just eight months later – and was understood by BoardGameWire to be under strong consideration for the permanent position.

GAMA said its board of directors scheduled a “rapid response meeting” after being informed of Prickett’s departure on October 26, in an effort to determine its next steps – and would be taking immediate steps to appoint temporary leadership to oversee day-to-day operations.

Prickett is set to leave the organisation in less than two weeks, on November 6 – the day before GAMA’s much publicised Game Store Day, and amid the organisation’s preparations for moving its flagship GAMA Expo trade show to Baltimore for the first time.

Her departure leaves GAMA still hunting for a permanent executive director more than a year after its previous leader, John Stacy, announced his resignation.

A statement provided to BoardGameWire from GAMA board president Meredith Placko and secretary Tiffany Reid said, “Recruiting top talent for an executive position is a laborious process, and finding the right fit for our organization has taken longer than anticipated.

“As well, we have been forthright during public board meetings that the biggest reason for the delay was that we needed to get the foundations of the organization in better order, as we had been advised. To that end, Melinda Prickett did amazing work in bringing our financials from a planned deficit for the year, to a resounding success and raised more money than we anticipated for the organization.

“She also worked on creating stability amongst for the organization, the staff, and membership. Her work helped GAMA grow and succeed in the year she was with us.

“That being said, GAMA’s Board of Director’s had interviewed a strong candidate and we were in negotiations with them, but ultimately it did not work out. Because of that we will need to begin the search again.”

The pair said they could not comment on why Prickett’s notice period was so short, or whether she had been a formal candidate for the permanent executive director role.

They added that GAMA was currently working through a short list of people to bring in a new interim executive director “very soon”, adding that the goal was to “make sure GAMA Expo and Origins are a success, and the overall day to day running of the organization is met”.

The statement said, “To that end, the Board of Directors is currently seeking RFPs from firms that specialize in hiring executives in the trade association and member organization sectors. We feel it will be valuable to have the expertise of a company that knows how to recruit top talent in our search for an Executive Director.”

Placko and Reid said there was currently no estimate on when a permanent executive director would be appointed, but said an interim “to handle the most immediate needs of the organization should be decided upon very soon”.

Prickett’s exit comes after GAMA reported a significant improvement in its financial position during her tenure, with the organisation saying it had moved from a deficit budget at the beginning of 2026 to an expected surplus by the end of the year.

In a statement emailed to GAMA members, the board credited Prickett and treasurer Jamie Mathy with stabilising the organisation’s finances, as well as increasing member participation in events outside GAMA Expo and Origins Game Fair and developing new partnerships.

The statement said, “Though it is a bittersweet announcement to make, we are grateful for Melinda’s tireless work with our organization. She has been an incalculable force in leading GAMA during a transition period, setting us up for success in a way that is visibly reverberating through the organization.”

Prickett previously spent more than a decade at Girl Scouts of Ohio Heartland, including almost five years as chief operating officer, before being hired by GAMA last September to oversee its growing day-to-day operations.

Her appointment came just weeks before Stacy announced he was leaving the organisation after seven years as executive director, having just unveiled an ambitious 10-year plan aimed at expanding its international reach, membership and industry advocacy work.

GAMA appointed veteran leadership consultant Zaria Davis as interim executive director last November, initially saying it expected to find a permanent replacement for Stacy by spring 2026.

But Davis’s contract ended in March, with Prickett subsequently confirming to BoardGameWire that she had taken over as interim executive director on May 21.

The latest leadership departure follows a period of significant change for the organisation’s board.

Former president Nicole Brady lost her re-election bid in April to publisher representative Meredith Placko, who had previously served as GAMA vice president.

Ross Thompson, who was elected as vice president following Placko’s elevation to president, has now also resigned from the board after just over six months in the position.

Thompson only joined GAMA’s board in October last year, winning a special election to replace former secretary Monica Rasso, who had stepped down after five years as a director.

His resignation means the organisation will now hold its second special election for the same Media & Events board seat in little more than a year.

The latest departures also follow a turbulent period for GAMA’s board, which publicly apologised in March after some directors were accused of being rude and disrespectful towards members during a heated annual general meeting over proposed changes to the organisation’s bylaws.

GAMA did not give a reason for Thompson’s departure, but praised his work alongside Prickett in streamlining organisational processes and strengthening representation for its Media & Events members.

Thompson wrote on Facebook, “After being part of GAMA for many years, I was happy to lend my time, energy and experience to GAMA serving on the Board during the past year and a half. It was wonderful to be able to work with passionate people, identfying projects that needed support or upkeep, along with bringing new ideas to life.

“By far, GAMA is one of the best organizations to grow your business in the tabletop game industry. The connections made at events like GAMA Expo can revolutionize the way your work and that is truly special.

“There are things that need attention within GAMA, at the Board level and the Organization as a whole. I hope the membership, staff and current Board are able to continue to support GAMA’s mission and identify the obstacles it faces so the tabletop industry can continue to connect.

“I’ll still be around and am not going anywhere, but needed to end my time on the Board.”

The organisation said it would hold a special election to replace Thompson as Media & Events director, with nominations opening today and closing on November 8. Voting will take place between November 10 and 16, with the successful candidate serving until the next annual election in March 2027.

The changes come at a key time for the organisation’s professional trade show GAMA Expo, which has experienced rapid growth in recent years and is preparing to move from Louisville, Kentucky, to Baltimore, Maryland to accommodate rising demand.

This year’s event attracted a record 3,820 attendees, almost 12% above the previous year’s 3,425, continuing a run of growth that had put pressure on the show’s available exhibition and seminar space.

The first Baltimore edition is scheduled for April 25 to 29 next year. A statement provided to BoardGameWire from GAMA board president Meredith Placko and secretary Tiffany Reid said, “We are currently working to ensure there is no visible impact on the preparations for GAMA Expo.

“GAMA staff has been diligent in doing an excellent job to bring us to our new home in Baltimore. They continue with the work that needs to be done, including finalizing programming, working with vendors on booth placement, and everything that needs to happen to make GAMA Expo a success!

“Melinda has led an amazing team, and even in her absence, they will continue with the work that needs to be done.”

GAMA’s other major convention, Origins Game Fair, is set to return to Columbus in June. That show has struggled to recover its pre-pandemic attendance, with visitor numbers falling 2.5% this year to 18,700 – the show’s first annual decline since Covid-19, and still below its 2019 record of 20,642.

The event could face further pressure next year from the launch of PAX Unplugged Houston, a new tabletop gaming convention scheduled to take place just 12 days after Origins, which could potentially force publishers and exhibitors to choose between the two shows.

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Tabletop game design pioneer Steve Jackson has ended a 17-month return running his namesake games company, with new CEO Sabrina Gonzalez taking charge of a business with years of falling revenue as well as a run of promising crowdfunding successes.

Jackson will remain president of the company he founded in 1980, but will refocus his attention on game design and development, with managing editor Allison Page promoted to COO.

He had previously stepped back from the day-to-day running of Steve Jackson Games in 2014, when long-time COO Phil Reed became CEO, allowing Jackson to devote more of his attention to game development.

Reed was succeeded by TurboDork CEO and current GAMA president Meredith Placko in 2023, but Jackson returned to direct control of the business in April last year following her unexpected resignation.

Jackson’s return as CEO in 2024 was not presented as a permanent appointment, with him saying in the wake of her departure that her direct reports would report to him while he “figured out a plan”.

Gonzalez has been with SJ Games since 2013 as a production artist and production manager, apart from a brief period away from the company working for toy and game manufacturer Grand Prix International – and has been a member of the board of directors since 2021.

She said of her vision for the business, “As a general goal, I’d like us to continue to grow. We weathered the pandemic and pivoted project plans to address continually changing tariffs.

“The goal is always to make great games that people love. I want to continue developing new titles for future generations of gamers and also support (and sometimes update) the classics that our fans continue to request.”

New COO Page joined SJ Games as managing editor in 2023, having previously worked as executive artistic director of San Francisco comedy organisation Killing My Lobster. She also spent a year working as a narrative designer in the video game industry.

Page said, “I’m most excited to support Sabrina in her new role as CEO! We’ve always worked really well together and want the same things for SJ Games.

“I’m a problem solver, and I’m passionate about setting clear expectations. I’m excited to untangle whatever comes my way and ensure the team knows how to move forward and has what they need.”

The leadership change comes after what Jackson described in May as an “unusual and very awful” 2025 for the business, which has caused an ongoing delay in the company’s annual stakeholder report that Jackson has publicly posted since 2003.

He said on the company’s blog in May, “We made it through! But it’s not a story that fits well into the standard Stakeholder format. It took me a while to get up the nerve to start, and it has taken me longer to get it right. But I shall.”

SJ Games posted seven years of rising annual revenues from the mid-2000s to reach a record $8.8m in 2013, a year boosted by heavy demand for its Munchkin line of games – which accounted for more than 75% of its sales – and almost $1m from the Ogre Designer’s Edition Kickstarter.

Revenues have decline substantially since, however, falling about 2.5x from that peak to settle at around $3.5m across both 2023 and 2024 – the last years for which Steve Jackson has published the total – and bringing the annual total down to levels last seen back in 2010.

Jackson said in the executive summary in the 2023 report, “Cash flow was acceptable. It was not a profitable year, though. We have identified and dealt with some of the money-losing issues; others will be harder. We are working on it. (No fear; we have plenty of runway left. I just hate to use it.)”

He continued in the 2024 overview, “Cash flow was acceptable, but I don’t feel ‘prosperous’. This is not just us; individual game sales, industry-wide, were down at both the distribution and retail end, largely due to the glut of titles.”

Jackson added that year, “We are still working the problem, but we have less runway than we did last year! Cause for optimism: it was a rebuilding year and not expected to be good for cash, but thanks to your support for Munchkin Big Box it was better than we anticipated.”

Those challenges were exacerbated in 2025 by the impact of volatile US tariff policy, which included an unexpected “high five-figure” bill on its Munchkin Big Box after new tariffs were levied while the already-produced game was at sea.

The company subsequently raised some of its prices in response to tariffs, while uncertainty over overseas manufacturing led it to scrap the box and dice for RPG collection Dahlia’s Diversions for Peculiar Parties in favour of a rigid envelope, and shifting printing to the US before fully assembling the games on Jackson’s dining room table.

Jackson said in July that the company had received a partial rebate on its Munchkin Big Box tariff payment earlier this year, which it passed on to customers through a temporary discount on its web store Warehouse 23.

The BackerKit campaign for the Munchkin Big Box had been one of the company’s bright spots over the past couple of years, bringing in more than $1.3m from over 9,000 backers – a situation Jackson credited with making 2024 financially better than expected.

SJ Games followed that with a $370,000 BackerKit campaign for Munchkin Second Edition this year to coincide with the game’s 25th anniversary, and in recent years has extended out the game with Munchkin Shadowrun, Munchkin Vox Machina and multiple Warhammer-based releases, as well as several other expansions.

The company made a notable expansion itself in February last year, when it brought acclaimed indie RPG publisher Possum Creek Games into the business as an imprint.

It said at the time that the deal would allow Possum Creek, the publisher of Wanderhome and Yazeba’s Bed & Breakfast, to retain full creative and editorial control over its titles, while “lending their talents to the SJ Games design and visual branding”.

Possum Creek editorial director Jay Dragon joined the SJ Games board of directors as part of the tie-up, and became its lead game designer, while Ruby Lavin became the company’s art director.

Since then Dragon’s TTRPG design Seven-Part Pact has raised more than $1m through a Kickstarter campaign, while SJ Games has also raised almost $600,000 across a pair of Kickstarters for the venerable Fighting Fantasy line of adventure gamebooks, having agreed a deal in 2024 to bring the UK-created titles back to the US for the first time in more than two decades.

Steve Jackson’s game design career dates back to the late 1970s, with his 1977 debut Ogre helping popularise the emerging microgame format of small, inexpensive wargames.

Within five years he had designed Car Wars and Illuminati, founded his own games company and been inducted into the Academy of Adventure Gaming Arts & Design Hall of Fame in 1982 – all while still in his 20s.

He followed that with the Generic Universal RolePlaying System (GURPS) in 1986, which was his attempt to create a single roleplaying system capable of working across different settings and genres.

While not the first RPG to experiment with universal rules, GURPS helped popularise the concept and grew into a huge publishing line for Steve Jackson Games. By 2004 the company had released about 200 GURPS titles, with more than one million copies in print in English alone.

Jackson’s most visible modern design is Munchkin, which became the company’s biggest commercial success following its release in 2001. The game was inducted into the Academy of Adventure Gaming Arts & Design Hall of Fame in 2013.

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CMON has warned that its core business is suffering a “prolonged structural downturn” and is still consuming more cash than it generates, despite a drastic restructuring which has seen the board game crowdfunding major halve its workforce, sell off some of its biggest game IPs and halt new crowdfunding campaigns.

The warning comes amid an extraordinary period of upheaval for one of tabletop gaming’s biggest crowdfunding publishers, which suffered losses of almost $23m across 2024 and 2025 and is still working to deliver a string of heavily-delayed campaigns that raised more than $14m from backers.

CMON has spent the past 18 months attempting to stabilise its finances by cutting staff and other costs, selling high-profile IP including Zombicide, Blood Rage and Cthulhu: Death May Die, divesting its Singapore office and raising fresh money from investors.

Those efforts have now dramatically reduced its losses, CMON’s newly-released H1 financial report shows – with the company reporting a loss of just over $2m for the first half of this year, compared to almost $7m for the same period in 2025.

CMON’s revenue also rose more than 7% year-on-year in H1, up to $3.68m from $3.43m in the first six months of 2025, while its selling and distribution expenses more than halved from $1.83m to $859,000, and its general and administrative expenses fell from $4.37m to $2.37m.

But that improvement has failed to make the underlying business self-sustaining. CMON’s cash reserves, which stood at $3.9m at the end of 2022, had fallen to $2.1m by the end of 2024, and slipped again to just over $900,000 by June 2025.

CMON revealed last month that it had about $368,000 in bank and cash balances as of August 4, which it described as enough to cover less than a month of its daily operating expenses.

Crowdfunding Commitments

Despite the sharp reduction in its losses, CMON’s balance sheet remained under pressure at the end of June – with $7.34m more in short-term liabilities than short-term assets, up from $6.89m at the end of 2025.

A significant part of CMON’s liabilities relates to eight crowdfunded games whose campaigns raised $14m from backers, but which the company has yet to deliver.

They include DC Super Heroes United, which raised more than $4.4m, and DCeased, which brought in over $2.5m. Both of those campaigns were initially due to be delivered last year, but fulfillment has been pushed back several times since and both are now scheduled for the first quarter of 2027.

CMON has not completed fulfillment of a crowdfunding project since Zombicide: White Death in mid-2025, but has managed to deliver pre-orders for Cthulhu: Dark Providence, Marvel United: Witching Hour and Dune: Desert War in the first half of this year.

Four other pre-order titles: Assassin’s Creed Role Playing Game, The Adventurers, The Dead Keep and Super Fantasy Brawl Reborn, all remain undelivered, although the first of those is currently slated for completion in Q3.

Funding Push

CMON said in its H1 report that the liabilities position had caused the company’s directors to give “careful consideration to the future liquidity and performance of the group and its available sources of financing in assessing whether the group will have sufficient financial resources to continue as a going concern”.

Those directors believe CMON will be able to continue operating – but central to that assessment is a major share sale designed to raise up to HK$150.5m – about $19m.

CMON first announced the rights issue fundraise in June, proposing to offer existing shareholders the opportunity to buy three new shares for every share they already owned in an attempt to raise the capital.

The plan was approved by shareholders in late July and the formal offer opened in mid-August – but existing shareholders took up just 7.76% of the new shares offered to them by the August deadline.

That leaves CMON looking to raise more than $17.5m from other investors through the rights issue – a figure approaching 2.5-times the valuation of the entire company implied by its last share sale in February this year.

CMON said it plans to use 40% of the money raised to fund its day-to-day operations for roughly the next year, including staff costs, royalties, shipping and distribution, professional fees and other administrative and operating expenses.

Another 20% is earmarked for repaying debts and other outstanding liabilities, including $2.46m owed to a CMON director and $385,000 of unsecured advances from employees, as well as outstanding production, shipping, royalty and other operating costs.

CMON has earmarked 25% for expansion in existing and new markets, including strengthening the company’s presence in Europe through marketing and potential attendance at events including Spiel Essen and Cannes, as well as targeting growth in Japan and the Philippines.

Digital Ambitions

The company added that it plans to put 15% of the new capital towards potential acquisitions as part of a push into digital gaming, although said it had not yet identified any targets.

CMON said it intends to look for between one and three businesses, primarily in Asia-Pacific, valued at between about $1.3m and $2.5m each, which could help it develop digital adaptations of its existing games, companion apps and other digitally-enabled features.

The publisher stressed that it intends to retain physical tabletop games as its core business, with the digital push designed to complement rather than replace them.

That announcement comes just a few weeks after CMON terminated its planned $2.1m investment in NFT video game maker Blissful Link, an investment it had previously said formed part of a digital shift necessary to remain “relevant” in the games industry and expand its revenue stream.

That plan had included transitioning the company’s titles such as Massive Darkness and Super Fantasy Brawl Reborn into “high-quality digital assets” – with CMON saying the group would “continue to supplement this digital transformation as physical games would still offer a ‘screen break’ for individuals as well as foster direct face to face interaction”.

The proposed investment would have valued Blissful Link at more than $95m. Blissful Link made a loss of about $197,000 in 2024, on revenues of just over $408,000, and had net liabilities of about $889,000, according to unaudited figures provided by CMON in April. It did not include finances for 2025.

CMON said in the rights issue offer, “Under prevailing high-interest lending conditions, traditional bank borrowings and debt financing carry heavy interest and securing such financing would severely strain the group’s remaining liquidity.

“Accordingly, equity financing via the rights Issue is the most viable strategic path to recapitalize the group’s capital base without increasing debt distress.”

The directors’ assessment that CMON can remain a going concern also takes into account continued financial support from some of its directors, progress fulfilling its outstanding contract liabilities and further restructuring aimed at reducing cash outflows.

Revenue Collapse

CMON’s latest figures also reveal the scale of the collapse in its North American and European revenues over the past five years, transforming the geographical make-up of what remains of its business.

North America alone generated more than $8.6m for CMON in the first half of 2021, making up 57% of its roughly $15.1m H1 revenue. By the first half of this year, however, revenue from North and South America combined had fallen to just $642,000.

Europe has undergone a similarly dramatic contraction, with revenue from the region falling from about $4.5m in the first half of 2021 to just $982,000 in the latest six-month period.

Asia has consequently become CMON’s largest market by a considerable margin, generating more than $2m in the first half of this year and accounting for about 55% of its total revenue, compared with less than 10% in the same period of 2021.

That reversal has not been driven by Asian growth, however. CMON generated $3.22m from Asia in the first half of 2022, marking a roughly 37% decline since – but a far more resilient performance than the steep falls recorded in North America and Europe over the same period.

The publisher said in its H1 2026 report, “The group intends to continue developing its distribution and market presence in Asia while supporting its established markets in Europe.

“The group will also continue to monitor trade and tariff conditions affecting the US market, and maintain a prudent approach to allocate resources to markets and projects.”

CMON said in March this year that it intended to resume crowdfunding in the second half of 2026, but its latest interim results stop short of repeating that commitment, saying instead that new titles will be developed and launched selectively depending on market conditions, available financial resources and project readiness.

The final result of the rights issue is due to be announced on September 15.

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