Scopely Buys GSN Games over a Billion Dollar Deal.
Sony Pictures Entertainment decides to sell GSN Games, a division of Games Show Network, to Scopely.
The deal is valued at $1 Billion with a mix of cash and stocks where Sony will become a minority holder of the company. Moreover, GSN leadership will continue to work as is but under the supervision of Scopely.
GSN Games is known for developing mobile games in the genre of online casino games. Its expertise includes games on solitaire, bingo, poker, and other games. Moreover, its wheel of fortune-themed slot games also made heads in mobile gaming.
Sony is a significant player in the gaming industry and most of its business comes from the PlayStation platform. Its Sony Interactive Entertainment division owns several gaming studios and GSN Games is one of them.
GSN Games focuses on mobile gaming and develops games in the casino genre which doesn’t fit well with Sony.
On the contrary, Scopely is an emerging and promising player in mobile gaming. It has raised more than $500 million last year from investors like The Chernin Group, TSG, and the New House family’s Advance.
Scopely has used the raised capital in expansion and acquisition. Last year it acquired PeirPlay, the makers of Scrabble Go mobile. It also added FoxNext to its shopping list which was owned by The Walt Disney Co.
Ravi Ahuja, the chairman of global television studios and Sony Pictures Entertainment, shared his thoughts, “GSN Games has been a great business for Sony the last 14 years, and we are proud of the experiences the team continues to deliver for players around the world.”
He further added, “In meeting the Scopely team, we knew we found the right organization to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction.”