Bagelcode announced on the 10th that it recorded sales of 93.2 billion KRW and an operating profit of 3.4 billion KRW in 2022, achieving a turnaround to operating profit.
Sales increased by 15% compared to the previous year. The average sales growth rate over the past five years is 74%. Bagelcode ranked third in sales growth among global social casino companies last year.
Bagelcode explained that through data-driven marketing efficiency optimization, they realized increased sales and improved profitability while reducing marketing investment scale.
The core growth engine and flagship title, "Club Vegas," ranked 90th in the US Google Play game sales chart, setting record-high monthly sales. The follow-up title, "Cash Billionaire," also achieved cumulative sales of 10 billion KRW during its soft launch period, driving performance.
This year, Bagelcode plans to strengthen its lineup of self-developed titles and new releases from global independent development studios, diversifying its portfolio to take a step forward as a global mobile game company.
Bagelcode co-CEOs Yoon Ilhwan and Kim Junyoung said, “In a challenging year when the mobile game market shrank, the sales growth and turnaround to profitability we achieved by maintaining a growth trajectory every year will be an important milestone for us,” adding, “This year, we will achieve greater growth with a strong portfolio and marketing strategy.”
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