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The company expects to raise around $150 million from the initial public offering, with that cash being used to fund growth initiatives including acquisitions and investments.

Chris Kerr, News Editor

January 19, 2021

1 Min Read

Casino game studio Huuuge has announced plans to go public on the Warsaw Stock Exchange. The company expects to raise around $150 million from the initial public offering (IPO), with that cash being used to fund growth initiatives including acquisitions and investments. 

The free-to-play studio primarily develops and publishes social casino games on mobile, none of which feature real-money gambling, and boasted 4.74 million monthly active users across its portfolio as of September 30, 2020. 

It also made $863 million in revenue from its top two titles, Huuuge Casino and Billionaire Casino, from 2017 to September 2020, and claims to have a "proven playbook of marketing strategies" that allow it to drive engagement and attract players. 

Explaining the rationale behind the IPO, Huuuge CEO and founder Anton Gauffin said the company wants to further capitalize on the growth potential of the mobile market, which currently has 2.5 billion players around the world.

"Across our business, our use of data analytics and personalized marketing enables us to acquire, retain and deepen our player relationships, achieving the highest revenue per daily active user in the social casino sub- genre," they commented. 

"In order to deliver our network centric mission to empower billions of people to play together, we follow our Build and Buy strategy. This means that we continue building and developing our free-to-play mobile game offering while pursuing further growth and scale via our Buy strategy; publishing & acquiring complementary products and businesses."

That build and buy strategy has recently seen Huuuge make a number of acquisitions, including the purchase of Bow Land developer Double Star and interactive ad company Playable Platform.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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