The leading provider of international lottery and regulated gaming products and services Scientific Games revealed it has finalised the acquisition of Spicerack Media Inc., a privately-held company focused on the provision of mobile and social games and services. Thanks to the acquisition, Scientific Games is to add the offering of Spicerack to its portfolio, which is to be complemented by the high quality and stability of the social casino games and mobile offerings of the newly-bought operator.
Spicerack is best known as the creator of the social bingo game application Bingo Showdown. As it has already been finalised, the acquisition would be added to the cash flow and earnings generated by Scientific Games. Neither one of the companies revealed any details bout the terms of the deal. The only information related to the deal was the fact that Spicerack used the services of Daniel Burns and Adele Sinclair from Oakvale Capital LLP as advisers at the time of the acquisition.
However, the Chief Executive Officer of Scientific Games Interactive Barry Cottle commented on the acquisition, saying that the entire team of the company was excited with the fact they had managed to add the offering of Spicerack to their portfolio. Mr. Cottle praised the success of Spicerack Media, especially when it came to the bingo game offerings. He added it was really a great thing that Scientific Games had added the offerings of Spicerack, explaining that the purchase is to bring in additional momentum in the middle gaming space.
SG Interactive’s boss further explained that the company was also aimed at exceeding its customers’ expectations to get access to high-quality, exciting and attractive gaming offerings that would bring them great entertainment and gaming experience.
Spicerack has existed for a decade now, after being established as a privately-held company back in 2007.
The company’s leading product to date is Bingo Showdown, a social bingo game application. The latter is the main product that normally brings in to the majority of the revenue generated by Spicerack. Bingo Showdown has also become one of the top five social bingo titles last year, with the product generating an increase in its growth and market value each quarter since its official release date. Currently, the games of Spicerack are available to customers on the Apple App Store and the Android App Store on Google Play. They could also be accessed on Facebook and Amazon.
One of the founders of Spicerack Media – Davy Campano – also commented on the deal, saying that the privately-held company’s team was looking forwards to bringing their product offering into a company of such experience and trust as Scientific Games. According to him, Scientific Games’ interactive business had grown immensely over a sustained period of time, so the team of Spicerack was impatient to join such a successful part of the Corporation.
- Author
Olivia Cole
