Sony Sells GSN Games, the Studio Focused on Mobile and Online Casino Games, for $1B – PlayStation LifeStyle

Sony Pictures Entertainment has sold GSN Games to mobile studioScopely for one billion dollars, according to a press release.

GSN Games holds a portfolio of free-to-play mobile andonline casino games likeSolitaire TriPeaks and Bingo Bash. Sony acquired GSN Games as part ofGame Show Network in 2019. The company will receive half the money in cash, and the remainderin form of equity, which will grant Sony a minority interest in Scopely. This will apparently allow Sony to benefit from the expected growth of Scopely as well as the mobile games industry.

Scopely is one of the fastest-growing private mobile games companies today, having tripled revenues from 2018 to 2020, reads the press release. The company has one of the most diverse mobile games portfolios in the industry with success across both casual and core games from social player vs player (PVP) to midcore role-playing games (RPG) to massively multiplayer online (MMO) strategy and is known for its ability to build loyal and engaged player communities with a dedication to long-term, player-first experiences.

A statement fromRavi Ahuja, Chairman 0f Global Television Studios and Sony Pictures Entertainment Corporate Development reads:

GSN Games has been a great business for Sony the last 14 years, and we are proud of the experiences the team continues to deliver for players around the world. In meeting the Scopely team, we knew we found the right organization to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction.

The deal is subject to regulatory approvals.

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Sony Sells GSN Games, the Studio Focused on Mobile and Online Casino Games, for $1B - PlayStation LifeStyle