Slot, table and system supplier Bally Technologies announced that it has entered into a definitive agreement to acquire Dragonplay Ltd., a leading online social casino company headquartered in Tel Aviv, Israel, with top-grossing applications for Android, as well as a significant presence on Facebook and Apple iOS.
Launched in 2010, Dragonplay ranks among the 10 top-grossing game developers in the social casino genre with approximately 700,000 daily active users (DAU) and nearly 3 million monthly users across all platforms. In the “Card” category on Google Play, Dragonplay’s poker game Live Hold’em Pro is ranked No. 1 in the top-grossing category. In the “Casino” category on Google Play, Dragonplay Slots is a top 10 performer in terms of active users
“With over three years of topping various performance charts on Google Play, Dragonplay has successfully and consistently demonstrated its ability to acquire, monetize and retain social gamers by creating compelling games with staying power in the social casino space,” said Bally Chief Executive Officer Richard Haddrill. “We expect this strategic acquisition to help position Bally at the forefront of social casino gaming by leveraging our world-class content, including proprietary table games and award-winning video slots, on Dragonplay’s increasingly popular social casino.”
Total consideration includes approximately $51 million in up-front cash, plus the amount of net working capital, payable to Dragonplay’s shareholders in exchange for all of the issued and outstanding equity, and approximately $49 million in additional earn-out consideration and employee retention payments over the next 18 months subject to Dragonplay meeting certain financial performance targets.