Poker Business: Zynga Acquires Rising Tide GamesDeal To Add To Zynga's Social Slot Offerings |
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Games-maker Zynga has acquired Rising Tide Games, a rival social casino games company, Zynga announced in a company blog post on Monday. A price tag was not disclosed.
Rising Tide Games is a startup from former Zynga and Playtika executives.
“I am excited for Rising Tide Games to join forces with Zynga,” said Maytal Olsha, founder and co-CEO of Rising Tide Games.
“I look forward to once again partnering with Mark [Pincus], the talented Spooky Cool team and the Zynga Austin Studio to create authentic and truly social free-to-play games. Together, with our amazing Rising Tide Games family, I believe we can deliver fun, unique social slots experiences to players around the world in the growing social casino gaming space.”
The company is behind Black Diamond Casino, which is available on mobile in the U.S.
Recent research from Newzoo showed that 46 percent of players on 17 social casino platforms spent money in the past six months. According to SuperDataResearch, the social casino gaming market is currently worth around $2.9 billion. Eilers Research has estimated the social casino gaming market to be worth $4 billion in 2016.
The growth is driven by games other than traditional peer-to-peer poker play. The market for free-play poker will fall to $156 million by 2017, according to SuperData Research.
Zynga Poker is still the leader in the space, however a free-play version of the WSOP online site is closing ground. An online social casino from Caesars is the top player when it comes to the other games. Caesars’ Slotomania has been its marquee social casino game, according to VentureBeat.
The San Francisco-based Zynga has decided to grow its social slots business by 274 percent between Q2 2014 and Q2 2015, the company said in the press release.
Zynga acquired Spooky Cool Labs in 2013, the company behind Hit It Rich! Slots.
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