DoubleDown completes €55m acquisition of Germany’s Whow Games
Deal aims to strengthen DoubleDown’s position in the European social casino market.
Key points:
– DoubleDown has finalised the €55m acquisition of Hamburg-based Whow Games
– The deal includes a potential €10m earn-out based on future performance
– Whow Games posted €41.8m in 2024 revenue and is active in Germany’s social casino segment
DoubleDown Interactive has completed its acquisition of German social casino developer Whow Games for €55m ($64.3m), with the potential for an additional €10m in earn-out payments over the next two years.
The transaction, first announced earlier this month, was finalised following the signing of a Share Purchase and Transfer Agreement with Azerion Tech Holding. Under the terms, Whow Games joins the Seoul-headquartered DoubleDown group, which operates both social casino and real-money gaming products.
Whow Games is known for social casino titles including MyJackpot and Lounge777 and reported unaudited revenue of €41.8m in 2024.
The company develops proprietary games as well as licensed content through partnerships with land-based casino operators.
Keuk Kim, CEO of DoubleDown, said: “This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market. Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies.”
Good to know: The acquisition will be financed through DoubleDown’s existing cash reserves. No external debt funding was used
Giovanni Valerio Valeriota, CEO of Whow Games, commented: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for Whow Games.”
The deal comes after DoubleDown reported a 10.5% year-on-year increase in full-year revenue for 2024, reaching $341.3m. The company has been actively expanding its portfolio beyond its flagship DoubleDown Casino product, including the addition of real-money gaming via SuprNation, which operates licensed iGaming sites in Western Europe.
The completed transaction adds further scale to DoubleDown’s operations in Europe, a region where competition among social casino developers is intensifying amid changing player preferences and increased cross-platform demand.
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