Social casino expert DoubleDown Interactive, after entering the real money gaming sector in collaboration with SuprNation, may consider new acquisition opportunities, although the company insists "we will absolutely not turn ourselves into a purely igaming company".
In November last year, SuprNation was acquired for $36.5 million, marking DoubleDown's entry into the real money gaming sector. The second quarter was SuprNation's second full quarter in this business.
In the three months up to June 30, the group's revenue increased by 17.3% to $88.2 million (£68.9 million/€80.7 million). SuprNation contributed $7.9 million in the second quarter, a decrease of 4.8% quarter-over-quarter. Social games alone generated $80.3 million in revenue in the second quarter, an increase of 6.7% from the second quarter of 2023.
The real money brand is licensed in Malta, Sweden, Isle of Man, and the UK, and operates websites such as VoodooDreams, NYSpinz, and Duelz in Western Europe.
DoubleDown may venture into acquisitions again
DoubleDown's Chief Financial Officer Joseph Sigrist hinted in the company's second-quarter earnings call that the company will engage in further acquisitions in the online gaming and social casino sectors. However, he emphasized that the company will continue to maintain a diversified operation.
"We will continue to look for opportunities in these categories, focusing more on some non-casino oriented mobile gaming categories," Sigrist said. "Of course, some categories we have always been involved in, but from a payer's perspective, these categories are still incredibly large and influential.
"So, we really haven't crossed anything off our list. When we announced the acquisition of SuprNation, we said we were excited about igaming, but we definitely won't turn ourselves into a company that only does igaming."
The entire business's average revenue per daily active user (ARPDAU) increased from $1.04 to $1.33, and the average revenue per player per month increased from $235 to $288. Despite a 23.0% decrease in average MAUs and a 16.3% decrease in average daily players, it was still a success.
DoubleDown's CEO Keuk Kim stated that strengthening the company's balance sheet and further driving monetization growth will be a key factor in assessing acquisition opportunities.
