Crown Resorts enters social sector with DGN Games acquisition
Casino operator snaps up 60% stake in Texas-based social casino developer for $27.5m
Crown Resorts has entered the social casino sector after acquiring a majority stake in Old Vegas Slots publisher DGN Games. [private]
Australia-facing operator Crown said it had paid $27.5m for a 60% stake in the firm and had also invested a further $5m to help drive growth.
âIt’s early days for us, but we think the social gaming space is a relatively high growth market,â Ken Barton, Crown Resorts chief financial officer, told local media.
DGN Games has recently made gains in the social casino sector and particularly on mobile.
Eilers Research said in its Q2 social casino tracker that DGN Games, which publishes Old Vegas Slots, had moved ahead of Gamesys to become the 14th largest social game publisher worldwide.
In its report, Eilers Research estimated that DGN Games generated revenues of $8.6m during the second quarter, with $6m coming from Facebook and $2.6m from mobile.
Slots was by far DGN Gamesâ largest vertical, generating $7.9m during the quarter while its bingo games attracted $0.7m.