Acquisition of Slingo by RealNetworks
RealNetworks is hoping to make its mark on social gaming through its acquisition of the social games studio Slingo for US$15,6m.
The deal was announced late on Wednesday afternoon and means RealNetworks, who recorded an US$11,7m loss for the first quarter period to end of May and whose leading product is the RealPlayer media platform, has acquired one of the oldest and well-established social gaming studios in the sector.
Slingo will join RealNetworks’ GameHouse Casino Plus division to help it make its mark on the highly competitive social gaming space on Facebook and mobile platforms.
The company started out in 1996, its products combine online bingo and slots and have over 4,5 million people playing its games every month on Facebook and operates slingo.com and distributes its own slots games in across some 300 casinos in the US.
Slingo licences its social slots and bingo products and produces a wide range of casual and social games, casino slot machines and table games, lottery tickets and TV programming.
Commenting on the acquisition, RealNetworks founder and interim chief executive Rob Glaser said: 'We are thrilled to have acquired Slingo, one of the most beloved products and brands in social casino gaming. We look forward to bringing Slingo — an extremely fun combination of slots and bingo — to even more fans around the world. Our team is hard at work creating even more compelling new versions of Slingo for Facebook, iPhone, iPad and Android.'
Rich Roberts, the chief executive of Slingo will be staying with the company as part of the new group, added: 'Slingo has been a successful, compelling product on every major games platform over the past 15 years. By joining forces with RealNetworks, we look forward to taking Slingo to the next level. We're thrilled to be joining RealNetworks' GameHouse division.'
According to the RealNetworks statement, Slingo Supreme on the iOS platform “is consistently ranked as the No. 1 paid casino app on iTunes” and “over US$1bn in Slingo-branded tickets sold through more than 200 licensed lottery games”.