SciPlay Acquires Leading Casual Game Developer and Operator Come2Play

Rhea-AI Summary

SciPlay Corporation (NASDAQ: SCPL) announced the acquisition of Come2Play, Ltd., a casual mobile game developer based in Israel, on June 22, 2020. This strategic move enhances SciPlay's portfolio, expanding into the fast-growing casual gaming segment. Come2Play's notable titles include Solitaire Pets Adventure and Backgammon Live. The transaction closed without impacting SciPlay's strong liquidity position of over $300 million and no debt. CEO Josh Wilson expressed enthusiasm about the synergies expected to drive player engagement and revenue growth.

Positive

• Acquisition of Come2Play expands SciPlay's portfolio into casual gaming.
• Strong liquidity position with over $300 million and no debt.
• Potential for revenue growth by utilizing SciPlay's revenue generation engine.

Negative

• Financial details of the acquisition remain undisclosed, raising uncertainty.

LAS VEGAS, June 22, 2020 /PRNewswire/ -- SciPlay Corporation (NASDAQ: SCPL) ("SciPlay" or the "Company") has acquired Come2Play, Ltd. ("Come2Play"), an Israeli based developer and manager of casual mobile games. This acquisition brings the company in to the fast growing casual gaming segment.   

Headquartered in Tel Aviv, Israel with additional development offices in Poltava City, Ukraine, Come2Play's social mobile games are enjoyed by casual game players from around the world. Come2Play's innovative game, Solitaire Pets Adventure, presents a new and fresh spin on the classic game solitaire while its Backgammon Live is the leading backgammon experience available. Come2Play brings an experienced and talented international team that will join forces with SciPlay's worldwide team to drive game advancements and revenue expansion.

Since its founding, one of SciPlay's core strategies has been to bring on the best new content and supercharge it with the Company's industry leading player acquisition and revenue generation engine. The Company's last acquisition, SpiceRack, brought the popular bingo game Bingo Showdown into the SciPlay portfolio in 2017. SciPlay drove incredible results after the acquisition by more than tripling the games' revenue. The Company will utilize the same successful model to bring Come2Play into the SciPlay portfolio.

"We are extremely excited to welcome the Come2Play team to SciPlay as this is a perfect match when it comes to both our products and culture," said Josh Wilson, Chief Executive Officer of SciPlay. "Adding a new genre of evergreen casual games and an incredibly talented team to our portfolio immediately expands our market beyond social casino apps, and enables us to leverage our unique technology and strategies to drive player engagement and grow revenue. We believe that with our support and expertise in user acquisition, analytics and live ops, we will be able to drive new growth behind the Come2Play titles."

"Our studio was founded on our passion to make games that really connect with our players, and we are thrilled to be joining SciPlay to take our games to the next level," said Alon Barzilay, Chief Executive Officer of Come2Play. "By leveraging the expertise and support from the wider SciPlay team, we will amplify the reach of our games, including our groundbreaking Solitaire game, Solitaire Pets Adventure. We couldn't be more thrilled for the future."

The transaction closed effective June 22, 2020 and does not materially impact the Company's liquidity position, which is over $300 million with no debt on the balance sheet. Financial details of the transaction are not being disclosed.

© 2020 SciPlay. All Rights Reserved.

About SciPlay
SciPlay Corporation (NASDAQ: SCPL) is a leading developer and publisher of digital games on mobile and web platforms. SciPlay currently offers seven core games, including social casino games Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino and Quick Hit Slots, and casual games MONOPOLY Slots, Bingo Showdown and 88 Fortunes Slots. SciPlay's social casino games feature slots-style game play and occasionally table games-style game play, while its casual games blend slots-style or bingo game play with adventure game features. All of SciPlay's games are offered and played on multiple platforms, including Apple, Google, Facebook and Amazon. In addition to developing original games, SciPlay has access to a library of more than 1,500 real-world slot and table games provided by Scientific Games Corporation and its Subsidiaries. For more information, please visit sciplay.com.

Forward-Looking Statements
 In this press release, SciPlay makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the "SEC"), including SciPlay's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on February 18, 2020 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for SciPlay's ongoing obligations under the U.S. federal securities laws, SciPlay undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

 

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SOURCE SciPlay

FAQ

What is the significance of SciPlay's acquisition of Come2Play?

The acquisition allows SciPlay to expand into the fast-growing casual gaming market, enhancing its portfolio with new game genres.

What were Come2Play's key games prior to the acquisition by SciPlay?

Come2Play is known for titles such as Solitaire Pets Adventure and Backgammon Live.

What is SciPlay's current financial status after acquiring Come2Play?

SciPlay maintains a strong liquidity position of over $300 million with no debt, indicating financial stability post-acquisition.

When did SciPlay complete the acquisition of Come2Play?

The acquisition was finalized on June 22, 2020.