DoubleDown switches gears to real money gaming with SuprNation acquisition

DoubleDown Interactive has entered into a share purchase agreement to acquire SuprNation, for cash of approximately $35m (£28.84m), with the deal expected to be completed by Q2 2023.

This marks the DoubleDown’s first move into the real-money gaming space following the announcement of its M&A ambitions and plans to diversify, due to a decline in revenue, in its Q2 results last year.

SuprNation, which runs VoodooDreams, NYSpinz and Duelz.com, is licensed in Malta, Sweden, the Isle of Man and the UK.

DoubleDown CEO Keuk Kim said this move complements the firm’s current free-to-play division.

Kim added: “We are pleased to announce the first acquisition since DoubleDown’s IPO that we believe complements our existing social casino franchise well and exposes DoubleDown to new growth markets.

“The acquisition of SuprNation increases our presence in the European igaming market with other geographies expected to be added over time.”

Joakim Stockman and Henric Andersson, joint CEOs of SuprNation, stated the firm is set for rapid expansion as part of the larger group.

They commented: “We are extremely excited to become a part of DoubleDown and are looking forward to leveraging the obvious strengths of both companies in the years to come.

“As part of DoubleDown, we expect to accelerate our expansion and grow our real-money gaming foothold through continued development of unique products and efficient marketing strategies.”

Following the annoucement of the SuprNation deal, Kim confirmed that the IGT-owned firm would continue to look for further M&A opportunities.

Kim said: “As we evaluate inorganic growth opportunities, we will continue to focus on gaming businesses that offer clear synergies with our existing strengths.”