April 27, 2024

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[THE INVESTOR] KOSDAQ-listed game developer DoubleUGames has logged record-high sales of 102.8 billion won (US$89.86 million) in the first half of the year, the company said in a regulatory filing on Aug. 11, attributing the jump to the stellar performance of its affiliate Double Down Interactive. 

DoubleU Casino, a social casino game developed by DoubleUGames

The firm’s second quarter sales were up 60.6 percent at 61.4 billion won. Operating profit, however, fell 36.4 percent to 7.9 billion won on acquisition costs.

DDI is a US social casino game firm that DoubleUGames acquired in April for US$825 million. Together, DDI and DoubleUGames have grabbed over 10 percent of the global social casino game market.

Analysts and DoubleUGames officials expect the company to grow even faster in the third quarter when DDI’s performance will be fully reflected.

The sales figures of DoubleUGames boosted its share price, which rose 1.64 percent to close at 55,800 won, bucking the trend of the overall stock market that dropped 1.69 percent.


By Park Ga-young (gypark@heraldcorp.com)