DoubleDown Interactive has finalized its acquisition of SuprNation, an online casino business, for a total cash consideration of $36.5m (£30.0m/€34.6m). This move, announced in January, marks the expansion of DoubleDown into the real-money gaming sector, as it takes ownership of SuprNation’s three real-money igaming brands in Western Europe: VoodooDreams, NYSpinz, and Duelz.
SuprNation, which was established in 2015, introduced its first product in the summer of 2016. The business holds licenses in Malta, Sweden, the Isle of Man, and Great Britain.
In Keuk Kim, the CEO of DoubleDown, will transition to the role of chairman at SuprNation. Kim stated, “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.”
He added, “SuprNation has a strong and loyal player base in several European markets such as Sweden and the UK. 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.”
Kim also highlighted that this acquisition would allow the combined business to pursue various revenue growth opportunities, supported by DoubleDown’s and SuprNation’s player engagement and monetization expertise.
The acquisition follows DoubleDown’s report of a decrease in revenue for Q2. However, there was a rise in both net profit and adjusted EBITDA. Revenue slipped 6.7% to $75.2m, with a drop in monthly active users to 1.8 million and daily active users to 793,000. Despite this, average monthly revenue per player increased slightly to $235. Reduced expenses led to an increase in net profit and adjusted EBITDA.
Reflecting on these figures at the time, Kim spoke about how the SuprNation acquisition would help drive igaming growth.
SuprNation co-CEOs Joakim Stockman and Henric Andersson also expressed enthusiasm about combining DoubleDown’s and SuprNation’s strengths to accelerate the growth of SuprNation’s real-money igaming operations. They look forward to working collaboratively to unlock SuprNation’s growth potential.
Overall, the acquisition of SuprNation by DoubleDown is expected to bring about significant growth opportunities in the online casino gaming sector and further bolster DoubleDown’s position in the market.