SOFTSWISS lauded the success of social casinos after confirming it purchased a ‘significant stake’ in Ously Games GmbH, owner of SpinArena.net.
The investments will see SOFTSWISS aid Ously Games in developing a comprehensive software solution for social casinos, citing free-to-play casino alternatives as a ‘fast-developing trend in online entertainment’.
Ivan Montik, Founder of SOFTSWISS, commented: “Anticipating the development of social casinos within the igaming industry, SOFTSWISS made strategic investments to diversify its portfolio.
“Together, we aim to create a comprehensive platform for social casinos, enriching the robust ecosystem of igaming products provided by our company.”
As opposed to real-money platforms, social casino websites operate without real-money betting, with customers often using virtual in-game currency to gamble at a lower risk.
A study from Business Research Insights estimates the social casino market to be worth €10bn by 2030, with around 85 million players currently accessing social casino sites daily according to Australian Communications and Media Authority.
SOFTSWISS will hope to tap into the rising success of social casinos by partnering with an established social casino operator such as Ously Games.
Ously’s flagship SpinArena.net brand has tripled its player base since the beginning of 2023, boasting over 700,000 players that can access over 3,000 games from almost 40 industry suppliers for free, leading to over €1m annual turnover from virtual goods sales and other revenue streams.
Jochen Martinez, Founder of Ously Games GmbH, added: “We are delighted to forge a strategic partnership with the global technology provider SOFTSWISS. This alliance brings invaluable insights, innovations, and profound expertise to both parties.
“The deal demonstrates our commitment to driving growth and mutual development. Collaborating with SOFTSWISS opens new horizons and ensures access to top-notch resources and support essential for thriving in the competitive igaming landscape.”