DoubleDown Interactive Finalizes $36.5M Acquisition of SuprNation
LISTEN TO THIS ARTICLE:DoubleDown Interactive has confirmed the conclusion of its acquisition of iGaming operator SuprNation AB. The deal is for a cash amount of around $36.5 million.
The acquisition will allow DoubleDown to expand its digital gaming repertoire, adding three real-money iGaming sites in Western Europe. Post-acquisition, the CEO of DoubleDown, Mr. In Keuk Kim, will take on the role of Chairman at SuprNation.
Related: Top 10 Biggest Acquisitions in the Gambling Industry over the Years
A Hub for iGaming Innovation
Founded in 2015, SuprNation is a tech company designed to be a hub for innovators in the gambling sector. Their first product hit the market in the summer of 2016, aiming to offer a superior user and gaming experience. SuprNation operates under the brand names VoodooDreams, NYSpinz, and Duelz and holds licenses in jurisdictions such as Malta, Sweden, the Isle of Man, and Great Britain.
In Keuk, Kim stated that acquiring SuprNation aligns with DoubleDown's strategy of tapping into new, high-growth gaming sectors that complement its existing social casino operations. He also emphasized that SuprNation already has a strong customer base in European markets, such as Sweden and the U.K.
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 U.K., 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.
Increased Revenue Growth Opportunities
Furthermore, Kim expects both companies to benefit from increased revenue growth opportunities through their collective expertise in player engagement and monetization. Kim highlighted potential synergies in areas such as player acquisition, marketing expenditures, back-office operations, and native app development for Apple and Android platforms.
SuprNation’s Co-CEOs, Joakim Stockman and Henric Andersson, also expressed their enthusiasm. They said that they are excited “about the prospects of accelerating the growth of SuprNation’s real-money iGaming operations” and unlocking SuprNation’s full growth potential.
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