Seoul-headquartered social casino and iGaming operator DoubleDown Interactive has entered into an agreement to acquire German social casino operator WHOW Games.
The share purchase and transfer agreement with Azerion Tech Holding will see DoubleDown pay an initial consideration of €55 million to acquire the business.
An additional earn-out payment of up to €10 million, payable to Azerion at €5 million annually, is contingent upon WHOW Games meeting certain performance targets during the first two years following closing.
Founded in 2014, Hamburg-headquartered WHOW Games has a strong presence in Europe, particularly in Germany. It operates a portfolio of social casino apps including proprietary brands MyJackpot and Lounge777, as well as third-party labeled social casino offerings such as Merkur24. In 2024, the company generated revenue of €41.8 million.
“This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market,” said DoubleDown CEO In Keuk Kim. “Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies. We are delighted to welcome the WHOW Games team to DoubleDown and look forward to working collaboratively on initiatives to drive growth across the business.”
WHOW Games CEO Giovanni Valerio Valeriota commented: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for WHOW Games, and we believe that this partnership will accelerate our growth and innovation.
“I would like to express our sincere gratitude to Azerion, whose support and strategic guidance during our time together has been instrumental in shaping WHOW Games into the strong and dynamic company it is today.”
The acquisition will be financed through DoubleDown’s cash reserves, and is expected to close during the third quarter of 2025.
Shares in DoubleDown Interactive Co. Ltd (NASDAQ:DDI) were trading at $9.71 per share in early trading in New York Tuesday.