DoubleDown Interactive to acquire SuprNation in $35m transaction

DoubleDown Interactive has disclosed a share purchase agreement that will see the company acquire Malta-based operator group SuprNation for approximately $35m.

The igaming group is hailed as boasting a “strong presence in certain European markets,” with gaming licences possessed in jurisdictions such as the UK, Sweden, Malta and the Isle of Man.

DoubleDown expects to realise “significant synergy opportunities” upon completion by leveraging marketing, technology and gaming content, back office in-sourcing and potential native Apple/Android app development.

SuprNation, whose online casino roster includes Duelz, VoodooDreams and and NYspins, is reported to have produced unaudited preliminary revenue for the nine months sending September 30, 2022, of in the region on $18.3m.

Joakim Stockman and Henric Andersson, Co-Chief Executive Officers of SuprNation 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.”

This all-cash acquisition is expected to close during the second quarter of 2023, subject to satisfaction or waiver of certain customary closing conditions, including regulatory approvals. 

Following the closing, SuprNation will be a direct, wholly-owned subsidiary of DoubleDown Interactive. If the closing conditions are not satisfied or waived prior to nine months after execution of the agreement, either party may issue a termination.

“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,” said In Keuk Kim, Chief Executive Officer of the DoubleDown Interactive. 

“The acquisition of SuprNation increases our presence in the European igaming market with other geographies expected to be added over time. Their gaming titles and captivating gamification features have created a loyal customer base that we aim to grow while capturing synergy opportunities, including incorporating our deep online gaming experience. 

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