Netmarble Adds New Gaming Genre to Its Global Catalog with $2.19 Billion Acquisition of the World’s Third-Largest Mobile Social Casino Game Company
LOS ANGELES – Global mobile game publisher Netmarble Corp. today announced that it has entered into a share purchase agreement for the acquisition of SpinX Games, one of the fastest-growing companies in the mobile Social Casino game industry. Under the agreement, Netmarble will acquire 100% of shares of SpinX Games at $2.19 billion (appx. ₩2.5 trillion), to continue its global expansion by adding a new genre of games to the current extensive roster.
Established in 2014, SpinX Games is a Social Casino game company with multiple hit titles in the category including Cash frenzy™, Lotsa Slots™ and Jackpot World. In the second quarter of 2021, the company ranked third in global sales in the mobile Social Casino genre.
SpinX Games showed the most accelerated growth amongst the top 10 players in the Social Casino game industry in recent years, recording $432 million (₩497 billion) in sales in 2020. In the first quarter of 2021, the company generated $141 million (₩162.2 billion) in sales, totaling sales of $286 million (₩328.9 billion) for the first half of the year, marking a 46% increase, YoY.
Social Casino is a globally popular casual game genre along with Match 3 Puzzles.
“The Social Casino genre shows continued global growth, and we are very excited to execute a share purchase agreement with SpinX Games, one of the leading companies in the genre,” said Seungwon Lee, CEO of Netmarble. “Through the acquisition, Netmarble will add the Social Casino genre alongside its existing main genre of RPG to further strengthen its lineup of casual games. With this diversified portfolio, we expect to fortify our competitive edge in the global mobile gaming market.”
“We are very excited to be joining the Netmarble family, one of the fastest-growing mobile game companies in the world,” said Paul Zhang, CEO of SpinX Games. “The mobile Social Casino business is a constantly evolving sector, and we plan to take the most advantage of this opportunity to strengthen global competitiveness for both companies as part of the extensive synergies with Netmarble.”
Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade & Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com