Scientific Games completes acquisition of Spicerack Media
Scientific Games corp recently announced the completion of its acquisition of the privately held mobile and social game company Spicerack Media, Inc.
Spicerack, the new subsidiary of Scientific Games, was founded in 2007 and is based in Tennessee. The firm’s main product – Bingo Showdown – constitutes the large majority of Spicerack’s revenue. Spicerack’s games are available on Facebook, Amazon.com, the Apple app store and Android app on Google play.
Scientific Games hopes that the company’s product will complement its existing portfolio of social casino games and mobile offerings. The terms of the deal were not disclosed.
In September, Scientific Games had designated the company’s wholly-owned interactive social gaming subsidiaries as unrestricted subsidiaries under its debt agreements. The move was made to “maximise growth” in the company’s interactive segment.
Scientific Games in March said total revenue for its interactive segment incremented by 51.9% year-on-year in the fourth quarter of 2016 to $91.6m.
Barry Cottle, Chief Executive, SG Interactive, comments: “We are excited by the addition of Spicerack’s talented team and complementary nature of their successful bingo game offering to our expanding portfolio of rapidly growing social casino apps. The acquisition will be immediately accretive and provide additional momentum in the mobile gaming space, as we look to exceed players’ expectations of exciting and engaging gaming entertainment experiences.”
Davy Campano, one of the founders of Spicerack Media, adds: “We are excited to bring our product portfolio into a company with the reputation of Scientific Games. Their interactive business has seen rapid growth over a sustained period of time, and we are proud to be joining such a successful part of the Company.”
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