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DoubleU Casino Revenue Report

DoubleU Casino reports average growth of over 300 percent annually over the last three years, 16 million users and US$60.6 million in revenues in 2014.
Kim Ga-ram (37), the founder and CEO of South Korean social casino games developer DoubleU Games, has reason to be happy with his decision to target the global market for his company's just three years from start-up the developer's first Facebook-based social casino game, DoubleU Casino recorded 16 million users from 220 nations; posted an annual average growth rate of 317 percent; and generated revenues of US$60.6 million in 2014.
Interviewed this week by the Yonhap news agency, former programming engineer Ga-ram, who now heads a staff of 127 employees, said that the appeal of DoubleU Casino's interface is its virtual re-creation of the Las Vegas gambling vibe. Once users get into the game through their avatars, they can explore the glamorous entertainment shows and other lavish resort facilities that most people associate with the US gambling capital.
"We all have that image of Vegas, you know. I think trying to give users the best possible virtual surrounding of the symbolic centre of gambling is what made us different and what's paid off at the end, because users don't just come for the game. They want engagement," he said.
"Playing the game of your choice -- either slots, poker, blackjack, baccarat and roulette -- is one way to enjoy. Swaggering about in the virtual Vegas as if you were George Clooney or Julia Roberts from Ocean's Eleven is another."
DoubleU Casino incentivises users with gift ofers of free chips or loyalty points on holidays and high days to further engage with its members, boosting their loyalty.
Ga-ram is now planning an IPO on the KOSDAQ exchange, and the company's stock has already soared on the OTC market.
DoubleU Games wants to raise around 250 billion won from the IPO, which is scheduled for November this year. If successful that will make DoubleU Games the beneficiary of the largest amount of initial funds ever raised for a KOSDAQ-listed firm.
The proceeds are already ear-marked for extended marketing, which Ga-ran says is essential to ensure the company's continued and long-term growth. He says that the global market has an estimated 50 million users and he wants more of them than the 16 million users he has been able to attract so far.
"To compete with bigger rivals and woo the remaining 34 million, we need sufficient funds," he told Yonhap.
DoubleU Games remains focused on the global market, and Ga-ran dismissed speculation that he is contemplating the launch of a domestic South Korean spin-off, explaining that appealing to Korean users would require a different approach in content and tone.
Instead, DoubleU Games is targeting expansion in Southeast Asia, Latin America and Russia, building on the North America-centered strategy which produces nearly half of its profits.
Acknowledging the international popularity of the mobile delivery channel, Ga-ran said he has high hopes for the growth potential in social casino gaming using mobile devices.
"I'd like to consider our company a national team who's been given an opportunity to vie with top players from the U.S. and Israel," Ga-ran said. "I think you should row your boat when the tide is rising, and we'd like to be an example of that courage."

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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