Netmarble Acquires Social Online Casino Platform SpinX
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Netmarble bought social casino platform SpinX based in Hong Kong. It is one of the most interesting and influential deals in 2021 when it comes to the online casino industry.
Netmarble bought social online casino platform SpinX for $2 billion. Spinx raked in more than $400 million in sales in the first two quarters of 2021. Netmarle bought Spin X to grow the company.
Netmarble is expanding its business beyond mobile games. The company's main money makers are ARPG fighting titles like Blade & Soul: Revolution and Seven Knights. Netmarle generated 2 trillion Korean Won in the same year.
SpinX Games Limited is a Hong Kong based company that ranks third in the Social Casino industry. Its main products are casino-like games that are available for download on Google Play and App Store. The company is projected to net over $500 million in sales this year.
Netmarble is investing in social gambling. Social gambling is a $6 billion industry. It's legal in many countries like the UK and from 2020 in the Netherlands. Cash Frenzy is an app that lets you play a slot game from the official platforms. You can't withdraw the funds, which is unfair to the users. The business generates over $5 billion per year and is growing. Netmarle's investment in Cash Fren Frenzy may make it the first in its industry in 3 years. They may earn close to one billion each year in more than 3 more years, according to some estimates.
