Penn National Gaming, Inc. announced this week that it acquired Rocket Games, Inc., a top developer of social casino games.
The deal, we’re told, is valued at approximately $60 million cash (subject to working capital and other adjustments, including potential earn-out payments for certain members of the Rocket Games management team).
For the Penn crew, the acquisition wields enormous opportunity. Rocket, after all, was recognized by industry experts Eilers & Krejcik Gaming as the fastest growing social casino company in 2015.
Rocket’s library of over 50 social casino games feature hits such as Viva Slots Las Vegas, Downtown Deluxe Slots, Triple Double Slots and Vegas Jackpot Casino, along with popular licensed titles such as Popeye Classic Slots. Rocket’s social slot games are available on the iTunes App Store, the Google Play store, on Amazon and via Facebook.
Following the transaction Rocket will continue to be headquartered in San Francisco and its existing management team will continue to run day-to-day operations, we’re told.
“Penn National’s accretive acquisition of Rocket highlights our ongoing strategic initiative to acquire emerging growth platforms that complement, and allow us to leverage, our core regional gaming operations and database of over three million active customers,” says Penn National Gaming President and CEO Timothy J. Wilmott.
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