In October 2002, Gamestation was sold during the peak sales period of PlayStation 2, to American video rental giant Blockbuster who invested heavily in an aggressive store roll out program.

2006 saw their American parent company file massive debts in the region of $560 million, leading to widespread speculation[by whom?]

that the company was either rife to a take over or teetering on the edge of administration, however Gamestation was in fact still making healthy profits, Blockbuster went through a process of consolidation and sold any outlets not branded 'Blockbuster' in an effort to concentrate on its core business.

[7] On 8 March 2012, it was reported that both Game and Gamestation were heavily discounting stock in an attempt to minimise any debts ahead of administration,[8] and it was duly confirmed on 26 March 2012, that Game Group had entered administration with PricewaterhouseCoopers and Ian Shepard stepped down as CEO.

On 31 March 2012, OpCapita officially made a deal to purchase the Group, taking on the 334 remaining stores and securing over 3,000 jobs.

Gamestation's main method of attracting customers was to put on more special offers than its competitor as well as focusing on pre-owned games and large discounts on older titles.

The original four staff members were Fat Steve (Liverpool Lord Street), Robyn (Merry Hill), Amber (Bracknell) and Kevin (Reading).

On April Fools' Day 2010, Gamestation temporarily added a clause to its online sales contract claiming that "By placing an order via this Web site on the first day of the fourth month of the year 2010 Anno Domini, you agree to grant Us a non transferable option to claim, for now and for ever more, your immortal soul."

Besides the humorous reference to a deal with the devil, the prank was meant to illustrate the problems with fine print in clickwrap license agreements that allow companies to hide unfavourable conditions from their consumers.