BUSINESS

Stride Gaming acquire social gamers InfiApps; Tropicana launch TropWorld app

TAGs: infiapps, ruby seven studios, social gaming, stride gaming, tropicana entertainment

stride-gaming-infiapps-dealCasino operator Tropicana Entertainment has officially launched its new free-to-play TropWorld Casino social casino app.

The TropWorld app, which was developed in conjunction with San Francisco-based social game publisher Ruby Seven Studios, is available to players around the globe using iOS, Android and Amazon tablets and smartphones. Games currently on offer include slots, video poker and bingo games, all with the usual social connectivity features.

In other social gaming news, UK-listed online bingo operator Stride Gaming has announced its acquisition of Israeli mobile and social gaming company InfiApps Ltd. Stride has agreed to make an upfront payment of $21.2m in cash with a further cash earn-out of up to $18m depending on InfiApps’ earnings performance over the first two years following the acquisition. “Introduction and arrangement fees” of up to $3.8m may also become payable.

The transaction is expected to conclude “within a week” of Friday’s announcement. Stride says it will fund the initial payment through a combination of cash on hand and a £8m loan from Poppy Investments Ltd, “a significant shareholder” of Stride Gaming.

InfiApps generated revenue of $13.7m in 2014, with earnings of $3.6m and profit before tax of $3.4m. InfiApps generated 59% of its 2014 business from North American customers, with Australia its next strongest market. The company’s flagship product, Slot Bonanza, has been downloaded 5.2m times and has a player base of over 500k users.

Stride says the acquisition will be immediately earnings enhancing and meshes well with the company’s strategy of expanding beyond its bingo base. Stride CEO Eltan Boyd claimed to be “extremely pleased” at the opportunity to “significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage.” InfiApps CEO Ronen Kalmanson expressed similar delight at “joining the Stride Gaming family.”

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