Industry News
DoubleDown Interactive Completes Acquisition of SuprNation
DoubleDown Interactive, a leading developer and publisher of digital games on mobile and web-based platforms, announced the completion of its previously announced acquisition of iGaming operator, SuprNation, for total cash consideration of approximately $36.5 million (€34.3 million). The acquisition diversifies the digital games categories that DoubleDown addresses with the addition of three real-money iGaming sites in Western Europe. Following the closing, Mr. In Keuk Kim, Chief Executive Officer of the Company, will be appointed as the Chairman of SuprNation.
SuprNation is a technology company founded in 2015 to serve as a home for creative people in the iGaming industry. Its first product was launched in the summer of 2016, a casino intended to deliver a better user and gaming experience than what was previously available. SuprNation owns the VoodooDreams, NYSpinz and Duelz brands, and is licensed in Malta, Sweden, the Isle of Man and Great Britain.
“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. 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,” In Keuk Kim said.
“In addition, to anticipated revenue growth opportunities which will benefit from both DoubleDown’s and SuprNation’s significant player engagement and monetization expertise, we expect to realize synergies in our 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,” In Keuk Kim added.
“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,” Joakim Stockman and Henric Andersson, Co-Chief Executive Officers of SuprNation, said.
Industry News
CogniPlay Launches New Social Casino Platform
CogniPlay has launched its new software product, which aims to provide a robust online sweepstakes or social gaming platform to its clients. The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.
The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification and customer support.
They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.
As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.
CogniPlay’s Chief Executive Officer Allan Turner said: “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.
“Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup. This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”
The post CogniPlay Launches New Social Casino Platform appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
Industry News
IGT Reports First Quarter 2024 Results
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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