April 26, 2024

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[THE INVESTOR] Korean game developer DoubleUGames is expected to pay an annual 20 billion won (US$17.48 million) royalty fees to International Game Technology following its recent acquisition of the UK gaming device maker’s casino unit Double Down Interactive, The Bell reported on April 20.

With the US$825 million acquisition that was announced on April 18, DoubleUGames has become the No. 2 player in the soaring global social casino market. 

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The report said the Korean firm will pay about 10 percent of its total net sales earned through Double Down as license fees. The US-based social casino firm posted revenue of 217 billion won last year.

Considering earnings from Double Down, the amount of royalty fees is also expected to be adjusted.

By Song Seung-hyun (ssh@heraldcorp.com)