Las Vegas-based Scientific Games acquires bingo app maker
Scientific Games acquired the maker of a popular mobile bingo app as it expands its presence in the social casino gaming segment amid stagnant machine and lottery revenue.
The Las Vegas-based company did not disclose in Tuesday’s announcement the price it paid for Spicerack Media Inc., the producer of Bingo Showdown and five other social gaming apps. The games are available on Facebook, Amazon.com, the Apple app store and Google Play for Android.
Bingo Showdown, which accounted for the ‘’large majority’’ of Chattanooga, Tennessee-based Spicerack’s revenue, was a top five social bingo title in 2016, according to a statement by Scientific Games. Bingo Showdown had nearly 200,000 followers on Facebook. It has been downloaded more than 100,000 times since its original release in Dec, 2014, according to game information on Amazon.com.
Bingo Showdown, which is free to download and play, generates revenue by allowing players to purchase items within the app.
Scientific Games social gaming segment revenue surged 52 percent, or $25.6 million, in the fourth quarter to $74.8 million as apps like Jackpot Party Social Casino grew in popularity.
The company’s total revenue grew just 2 percent, or $15.2 million, to $752 million over the same period as an 8 percent decline in the lottery and traditional gaming revenue offset the mobile segment increase.
Contact Todd Prince at tprince@reviewjournal.com or 702-383-0386. Follow @toddprincetv on Twitter.