DoubleDown Interactive to acquire WHOW Games for %64 million

DoubleDown Interactive has announced that it will acquire German social casino developer WHOW Games GmbH for €55 million (US$64.7 million). The deal includes an additional earn-out of up to €10 million (US$11.72 million) over two years if WHOW meets specific performance targets.

The acquisition is being made through a Share Purchase and Transfer Agreement with Azerion Tech Holding B.V. and will be funded entirely with DoubleDown’s cash reserves. The deal is expected to close in Q3 2025.

WHOW Games, based in Hamburg, generated €41.8 million in revenue in 2024 (unaudited) and has a strong presence in the German market. The company operates proprietary social casino apps like MyJackpot and Lounge777, as well as third-party labeled social casino offerings including Merkur24 through licensing agreements with brick and mortar casino companies.

DoubleDown plans to use WHOW’s market presence and game portfolio to expand in Europe. The company sees opportunities to leverage WHOW’s operations, brand partnerships, and game development with its own marketing and content resources.

“This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market,” said In Keuk Kim, CEO of DoubleDown. “Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies.”

Giovanni Valerio Valeriota, CEO of WHOW Games, added: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for WHOW Games, and we believe that this partnership will accelerate our growth and innovation.”

According to research from Eilers & Krejcik Gaming, the European social casino segment has demonstrated continued growth in 2023 and 2024, even as the broader market shows signs of maturity.