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Bally Buys DragonPlay
Thursday June 5,2014 : BALLY BUYS ISRAELI SOCIAL GAMES DEVELOPER
Dragonplay valued at $100 million.
Tel Aviv based social games developer Dragonplay is worth as much as $100 million, it appears; the company has been acquired by the American games and casino supply company Bally Technologies, which will pay $51 million in cash, along with networking capital to the developer's shareholders in return for the total equity of the company.
In addition, earn-out considerations could be paid up to $49 million, subject to the developer achieving set financial performance levels over the next one and a half years.
Bally intends to complete the deal by July this year, and expects the company to contribute to its earnings next year.
In a statement Thursday Bally revealed that for the year ended March 31 2014 Dragonplay posted EBITDA of $10 million from revenues of $30 million.
The developer has achieved impressive performance levels in social gaming over the past three years, proving that it is capable of attracting players, monetising them and keeping them with a mix of compelling games and resilience in the space, Bally CEO Richard Haddrill commented.
Dragonplay is now available on Android, iOS and Facebook platforms, offering its 3 million monthly active users a selection of quality slot, bingo, casino, poker and card apps, he said.
“We expect this strategic acquisition to help position Bally at the forefront of social casino gaming by leveraging our world-class content, including proprietary table games and award-winning video slots, on Dragonplay’s increasingly popular social casino,” Haddrill said.
“Additionally, with the majority of its revenues generated from smartphones and tablets, Dragonplay has proven remarkable foresight and leadership in the mobile space, which is the fastest growing segment of social gaming.”
Sharon Tal, founder and CEO of Dragonplay, said that the studio would redevelop Bally content as free-play games.
“I am confident that leveraging Bally’s vast library of proven slot and proprietary table game content will provide our loyal player base with an even more robust experience, which is expected to augment Dragonplay’s growth trajectory,” he said.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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