Netmarble Acquires Social Casino Game Company 'SpinX' for 2.5 Trillion Won

[Asia Economy Reporter Buaeri] Netmarble announced on the 2nd that it will acquire 100% of the shares of SpinX, the world's third-largest mobile social casino game company, for $2.19 billion (approximately 2.5 trillion KRW).

Founded in 2014, SpinX's representative titles include Cash Frenzy, Latcher Slots, and Jackpot World, and as of the second quarter of 2021, it ranked third in global mobile social casino genre revenue.

SpinX has been the fastest-growing company in the social casino industry in recent years. Last year, it recorded sales of 497 billion KRW. In the first quarter of 2021, sales reached 162.2 billion KRW, and in the first half of the year, sales increased by 46% year-on-year to 328.9 billion KRW.

Lee Seungwon, CEO of Netmarble, said, "The social casino game genre is continuously growing globally, and SpinX is the fastest-growing company in this genre. With this acquisition, Netmarble will diversify its game portfolio by securing the social casino genre in addition to its existing main genre of role-playing games (RPGs), and we expect this to further strengthen our global game competitiveness."

Paul Jang, CEO of SpinX, stated, "Since the mobile social casino business is a continuously growing field, we will make this an opportunity to further solidify our global competitiveness through synergy with Netmarble."