Churchill Downs Acquires Big Fish Games For $885 Million
The social casino industry has come a long way in the past few years and has become an essential division of the real money gaming companies repertoire. Companies like Caesars with their social casino wing Playtika have seen rapid growth in revenues from their social casino investment.
In the space of only a few years the social casino industry is worth over $2.7 billion annually which has not gone unnoticed by major gaming companies. We reported earlier in the year on Bally Technologies acquiring Dragonplay and the Imperus acquisition of Diwip. Caesars with Playtika and IGT with their Double Down were no doubt the pioneers in this field and continue to report outstanding growth rates in a gaming industry which is struggling.
The latest major move in the social casino worlds is the acquisition of Big Fish Games for $885 million by racetrack giant Churchill Downs. Big Fish Games is the fifth largest player in the social casino arena. CEO of Big Fish Games s Paul Thelen commented on the partnership with Churchill Downs,” We are extremely proud of the company we have built over the last twelve years. Churchill Downs is a company with a commitment to interactive entertainment and a track record of growth and performance. We believe Big Fish is now positioned to become an even greater force in the casual, mid-core and social casino mobile and online games industry. Churchill Downs is a great cultural fit for us and we are thrilled to be joining the Churchill Downs family.”
CEO of Churchill Downs gave his side of the Big Fish deal,” The acquisition of Big Fish and our entry into the rapidly growing mobile and online games industry gives us new products, new customers, new geographies and new sizeable growth oppurtunities, opportunities. While many will view this transaction as a logical extension to what we currently do with Twinspires.com, what is most important to us are the strong team and the processes and capabilities that have been built by Big Fish in Seattle, Oakland, and Luxembourg. We are excited to announce this transaction and believe we will do great things together.”