Scientific Games Corporation ("Scientific Games" or the "company") announced it completed the acquisition of privately held mobile and social game company Spicerack Media, Inc. ("Spicerack"). The addition of Spicerack, creator of the Bingo Showdown social bingo game app, complements Scientific Games' impressive stable of social casino games and mobile offerings. The acquisition will be immediately accretive to earnings and cash flow. Terms of the deal were not disclosed.
Barry Cottle, chief executive, SG Interactive, said, "We are excited by the addition of Spicerack's talented team and complementary nature of their successful bingo game offering to our expanding portfolio of rapidly growing social casino apps. The acquisition will be immediately accretive and provide additional momentum in the mobile gaming space, as we look to exceed players' expectations of exciting and engaging gaming entertainment experiences."
Spicerack's leading product, Bingo Showdown, which constitutes the large majority of Spicerack's revenue, was a top five social bingo title in 2016, and has seen increased growth and market share gains each quarter since its launch. Spicerack's games are available on Facebook, Amazon.com, the Apple app store and Android app on Google play.
Davy Campano, one of the founders of Spicerack Media, said "We are excited to bring our product portfolio into a company with the reputation of Scientific Games. Their interactive business has seen rapid growth over a sustained period of time, and we are proud to be joining such a successful part of the company."