Bally Technologies Buys Social Gambling Site For $100 Million
As the social gaming arena continues to expand at a rapid pace that has exceeded the expectations of most analysts, Bally Technologies has climbed into this space with the acquisition of Israeli social games developer Dragonplay for $100 million.
Dragonplay boasts more than 700,000 active daily users, with approximately 3 million active monthly users.
Some of Dragonplay’s suite includes, Dragonplay Slots, Wild Bingo and Live Hold’em Pro.
Dragonplay’s Farm Slot game is currently the number one “Top Free Game” in the Google Play Store, which generated more than $10 million in revenues last year.
Bally CEO, Richard Haddrill, commented that this acquisition will help position them at the forefront of social casino gaming.
He went on to say that Dragonplay had proven their foresight and leadership in the mobile space.
Most traditional gambling companies have already entered this space. Notable deals in recent years include Caesars Interactive acquisition of Playtika back in 2011 for $90 million as well as IGT’s purchase of Doubledown for $400 million in 2012.
It is anticipated that the social gaming space will grow at 16% annually of over the next 5 years to a market value of $17.4 billion.