Igaming technology provider Softswiss has taken a “significant” stake in the social casino. Ously Games is best known for its ownership of social casino SpinArena.net.
As a result of taking its investment, Softswiss will now provide Germany-based Ously Games with a major technology overhaul.
While the total stake is not listed, Softswiss is understood to see potential in the growth of social casinos.
Social casinos do not offer real-money gaming, with virtual currency instead used for games. Social casinos’ revenue stems primarily from virtual goods sales.
An eye on global growth
As per Softswiss, a major benefit will be the element of “no licence requirements or advertising restrictions”. By Softswiss’ own numbers, the global social casino market is projected to reach €10bn (£8.53bn/$10.64bn) by 2030. In total, Softswiss estimates that 85 million people currently play with social casinos.
Ously Games’ primary social casino, SpinArena.net, is understood to offer the largest amount of slots available to social players in Europe. Ously is believed to have seen its “player base triple” since the start of 2023. In total this “surpasses 700,000 players”. With more than 3,000 games from close to 40 providers, the casino is understood to have a €1.0m annual turnover.
Ivan Montik, founder of Softswiss, views the deal as a key diversification of its portfolio.
“Anticipating the development of social casinos within the igaming industry, Softswiss made strategic investments to diversify its portfolio. Together, we aim to create a comprehensive platform for social casinos, enriching the robust ecosystem of igaming products provided by our company.”
Ously Games founder Jochen Martinez shares Montik’s expectations.
“We are delighted to forge a strategic partnership with the global technology provider Softswiss,” he said. “This alliance brings invaluable insights, innovations, and profound expertise to both parties.”
The latest major move for Softswiss
The Ously announcement is the latest in a series of moves for Softswiss in recent months. In January, the provider announced its expansion into Africa via the acquisition of Turfsport.
Similar to Ously, Softswiss did not list the financial details of the purchase, nor the size of the stake. However, it did say the deal strengthens its product portfolio and allows it to serve more markets.
Turfsport offers solutions across sports betting, horse racing and lotto. The company currently works with more than 40 operators in South Africa.
At the time, co-CEO Andrey Starovoitov said the acquisition provides a fast and efficient way for the business to enter new markets.
“With this agreement, Softswiss takes a significant step forward in its extensive expansion into South Africa and the African continent,” said Starovoitov. “I believe this region is becoming the next focal point globally, following Latin America.”
Original article: https://igamingbusiness.com/casino-games/social-gaming/softwiss-takes-stake-european-social-casino/
