Acquires Casual Game Developer and Operator Koukoi Games Oy
LAS VEGAS, July 7, 2021 /PRNewswire/ --SciPlay Corporation (NASDAQ: SCPL) ("SciPlay" or the "Company") acquired Koukoi Games Oy ("Koukoi"), a Finland-based developer and operator of casual mobile games. The Koukoi team will take over the organic build of a new casual game concept, a key step in SciPlay's expansion in the casual genre and revenue diversification strategy to drive long-term growth and shareholder value.
Koukoi, located in Oulu, Finland, brings an experienced and talented team that developed the hit title Om Nom Run which has been downloaded over 30 million times. Koukoi's casual mobile games are built on their proprietary technology platform that includes modular game feature components and real-time multiplayer engines that can be used across games. The combination of Koukoi's technology platform and SciPlay's data driven "Engine" will be the foundation of SciPlay's drive to further expand in the $20B+ casual gaming genre.
"The strengths of the Koukoi team mesh perfectly with SciPlay's strengths and we're excited to welcome them to our Company," said Josh Wilson, Chief Executive Officer of SciPlay. "This is another step in the evolution of SciPlay as we continue to invest in future growth opportunities and build out our development pipeline. Together, we can build impactful evergreen games in the casual genre furthering our product and revenue diversification strategy."
This is SciPlay's third acquisition. The Company acquired Spice Rack and its popular bingo game Bingo Showdown™ in 2017, more than tripling the games revenue. In addition, the Company acquired Come2Play in 2020, which currently is in soft launch with Solitaire Pets™ Adventure. SciPlay will utilize the same successful model to bring Koukoi into its portfolio.
"Our studio was founded on our passion to make casual mash-up games that blend successful attributes of multiple genres, appealing to broad audiences through engaging gameplay and deep meta storylines," said Antti Kananen, Chief Executive Officer of Koukoi. "We are thrilled to be joining SciPlay to take our games to the next level by taking advantage of their product and analytical rigor, user acquisition expertise and market scale."
The Koukoi Finland office joins existing SciPlay offices including Cedar Falls, Iowa, Austin, Texas, Tel Aviv, Israel, and Kiev, Ukraine.
The transaction closed effective July 2, 2021 and does not materially impact the Company's liquidity position, which is over $400 million with no debt on the balance sheet. Financial details of the transaction are not being disclosed.
SciPlay Corporation (NASDAQ: SCPL) is a leading developer and publisher of digital games on mobile and web platforms. SciPlay currently offers seven core games, including social casino games Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino and Quick Hit Slots, and casual games MONOPOLY Slots, Bingo Showdown and 88 Fortunes Slots. SciPlay's social casino games feature slots-style game play and occasionally table games-style game play, while its casual games blend slots-style or bingo game play with adventure game features. All of SciPlay's games are offered and played on multiple platforms, including Apple, Google, Facebook and Amazon. In addition to developing original games, SciPlay has access to a library of more than 1,500 real-world slot and table games provided by Scientific Games Corporation and its Subsidiaries. For more information, please visit sciplay.com.
In this press release, SciPlay makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the "SEC"), including SciPlay's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 1, 2021 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for SciPlay's ongoing obligations under the U.S. federal securities laws, SciPlay undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.