New York-listed social casino operator DoubleDown Interactive has completed the acquisition of Malta-based iGaming operator SuprNation for $36.5 million.
The acquisition marks DoubleDown’s expansion into the real-money gaming sector with the addition of three Western Europe-facing websites; Duelz, VoodooDreams and NYspins.
Following completion, DoubleDown CEO In Keuk Kim has been appointed chairman of SuprNation.
“The acquisition of SuprNation is an important step in establishing our presence in new high-growth gaming categories that are complementary to our core social casino operations where we can leverage our game developers’ expertise in game creation and our marketing platform to scale the business profitably,” said Kim. “SuprNation has a strong and loyal player base in several European markets such as Sweden and the UK, and we expect to add more regulated jurisdictions over time.
“We are confident in our ability to leverage our broad portfolio of casino game content and development expertise to further expand SuprNation’s differentiated online casino gaming experiences, such as their flagship title, Duelz.com, to drive growth in the business.”
Kim said that in addition to anticipated revenue growth opportunities, which will benefit from both DoubleDown’s and SuprNation’s player engagement and monetisation expertise, the company expects to realise synergies in its player acquisition activities, as well as other costs such as marketing, back office in-sourcing, and potential native Apple/Android app development.
“We are delighted to welcome the SuprNation team members to DoubleDown and look forward to working collaboratively on our initiatives to drive growth across the business,” he added.
SuprNation co-CEOs Joakim Stockman and Henric Andersson commented: “In combining DoubleDown’s and SuprNation’s strengths in game development and player engagement and monetization, we are excited about the prospects of accelerating the growth of SuprNation’s real-money iGaming operations.
“We look forward to working with In Keuk Kim and the entire DoubleDown team to further unlock SuprNation’s growth potential.”
SuprNation is currently licensed in Malta, Sweden, the Isle of Man and the United Kingdom.
Shares in DoubleDown Interactive Co. Ltd (NASDAQ:DDI) closed 1.47 per cent higher at $8.17 per share in New York Wednesday.