Seoul-based DoubleDown Interactive has announced a definitive agreement to acquire Whow Games, a prominent social casino operator headquartered in Hamburg, Germany.
The strategic acquisition, valued at an initial €55 million ($64.7 million), marks a significant move by DoubleDown to expand its footprint within the growing European social casino market.
The Share Purchase and Transfer Agreement was made with Azerion Tech Holding for 100% ownership of Whow Games.
The deal structure also includes a potential earn-out payment of up to €10 million, contingent on Whow Games achieving specific performance targets over the next two years.
The acquisition will be funded entirely from DoubleDown’s existing cash reserves and is anticipated to close in the third quarter of 2025.
Whow Games is a strong player in the German social casino segment, known for popular brands such as MyJackpot and Lounge777.
The company, which develops both proprietary and third-party branded games through licensing deals with land-based casinos, reported unaudited revenues of €41.8 million for the 2024 fiscal year.
In Keuk Kim, CEO of DoubleDown Interactive, stated that the acquisition is a key step toward increasing competitiveness in Germany and that he looks forward to unlocking valuable synergies through combined operational expertise.
Giovanni Valerio Valeriota, CEO of Whow Games, added that joining the DoubleDown family will accelerate his company’s growth and innovation.
This major acquisition follows a strong financial year for DoubleDown, which saw its revenue increase by 10.5% to $341.3 million in fiscal year 2024.
