An online casino game company.
Netmarble this week announced its intent to acquire SpinX Games, a fast growing company in the mobile “social casino” games industry. Under the agreement Netmarble will pay approximately $2.19 billion to acquire 100% of the company’s shares and continue its global expansion via entry into this budding industry.
“The Social Casino genre shows continued global growth, and we are very excited to execute a share purchase agreement with SpinX Games, one of the leading companies in the genre,” said Seungwon Lee, CEO of Netmarble. “Through the acquisition, Netmarble will add the Social Casino genre alongside its existing main genre of RPG to further strengthen its lineup of casual games. With this diversified portfolio, we expect to fortify our competitive edge in the global mobile gaming market.”
SpinX Games recorded $432 million in sales in 2020 with $141 million in the first quarter of 2021 alone. Among the library of SpinX Games titles includes Cash Frenzy, Lotsa Slots, and Jackpot World.
“We are very excited to be joining the Netmarble family, one of the fastest-growing mobile game companies in the world,” said Paul Zhang, CEO of SpinX Games. “The mobile Social Casino business is a constantly evolving sector, and we plan to take the most advantage of this opportunity to strengthen global competitiveness for both companies as part of the extensive synergies with Netmarble.”