Online game developer Netmarble plans to acquire SpinX, a Hong Kong-based casino game maker. The acquisition price will be $2.2 billion. According to Korean Sports Wager sources, it is the South Korean game company’s largest overseas acquisition deal to date.
Netmarble announced the agreement to purchase 100 percent of Leonardo Interactive Holdings, which is the parent company of SpinX. The move is following Netmarble’s plan of diversifying its game portfolio. Also, the South Korean firm wants to improve its global business.
According to a sports forum, Netmarble is one of the largest online game firms in South Korea. Other gaming companies in the country include NCSoft, Krafton, and Nexon. Netmarble said they want to venture into the social casino game genre, which is growing worldwide.
Netmarble Plans to Acquire SpinX
SpinX is the fastest-growing social casino company today. Through the acquisition, Netmarble would incorporate the social casino genre into its primary roleplaying game genre. Also, it would improve the company’s competitiveness in the long run.
The acquisition is Netmarble’s most significant foreign acquisition. The purchase came at a time when South Korean game firms are expanding outside their country. According to sports betting reviews and news sites, they target China, the US, India, and other markets.
In 2019, South Korea exported $6.7 billion worth of game content. It was up 3.8 percent from the previous year.
SpinX launched in 2014 and has become the third mobile social casino game provider in the world. Some games in its roster include Lotsa Slots, Jackpot World, and Cash Frenzy.
On Tuesday, shares of Netmarble dropped 1.82 percent after the Chinese state media called its games spiritual opium. Also, they want more restrictions on the gaming industry.
On August 10, Krafton will go through an IPO on the South Korean Kospi stock index. The company is known for PlayuerUnknown’s Battlegrounds or PUBG.
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