Playtika, DoubleDown Plan IPOs

Sun, Jun 14, 2020

Playtika and DoubleDown Interactive are preparing initial public offerings, banking on the expectation that shutdowns due to the coronavirus will boost social gaming.

Playtika, DoubleDown Plan IPOs

Playtika Ltd. and DoubleDown Interactive, two of the top players in the social gaming space, are preparing initial public offerings, partially banking on the expectation that casino industry shutdowns will continue and return, giving a boost to social gaming in general.

South Korea-based DoubleDown Interactive, which acquired the DoubleDown social casino from International Game Technology for $825 million in 2017, filed IPO papers with the U.S. Securities and Exchange Commission (SEC).The company has indicated it hopes to raise up to $100 million from the offering, after which the company will be listed on the Nasdaq exchange under the symbol DDI.

Playtika Ltd., which runs the popular Facebook social casino Slotomania, also was reported to file a plan with the SEC for an initial public offering.

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