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DoubleU posts Q1 growth after resurrecting DoubleDown spin-off plans
11th May 2021
| By Robin Harrison
South Korean social gaming operator DoubleU Games has reported a 19.3% year-on-year increase in first quarter revenue, weeks after the business resurrected plans to list its DoubleDown Interactive subsidiary on the Nasdaq stock exchange.
Revenue for the three months to 31 March came to KRW163.9bn (£103.5m/€120.3m/$146.4m), of which KRW121.3bn came from mobile gaming, and KRW42.6bn from PC games.
DoubleDown Interactive contributed KRW107.7bn of the total, an 18.7% improvement from the first quarter of 2020. This broke down to KRW104.0bn from its flagship product, DoubleDown Casino, with KRW2.9bn coming from DoubleDown Fort Knox, and KRW0.6bn from DoubleDown Classic.
Tech
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4 days ago
Two plaintiffs, adult residents of Oregon and Alabama, have filed a class-action suit against Apple Inc., accusing it of facilitating illegal gambling by operating as an unlicensed casino. According to Tuesday’s filing, the casino-style games developed by DoubleU Games Co. Ltd., and distributed through Apple’s App Store, constitute illegal gambling pursuant to 25 states’ laws.
The Northern District of California complaint explained that DoubleU’s games generate money in several ways, including through the “Freemium Model.” Thereunder, consumers can download apps for free but then are offered optional additional in-app features that require payments.
Tech
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March 8, 2021
On Friday, a consumer filed a class-action complaint against Google, LLC and Google Payment Corp. in the Northern District of California for allegedly âprofiting from illegal gambling games developed by DoubleU Games Co., Ltd. and offered, sold, and distributed by Google through its Google Play Store for consumers to download and play.â This lawsuit parallels a lawsuit against Google over Zyngaâs gambling games.
The plaintiff averred that Google âoffers, sells, and distributes casino-style slot machines, casino-style table games, and other common gambling games to consumers through Google Play,â which allegedly âconstitutes illegal gambling pursuant to the law of various states.â According to the complaint, Android users pay money to either download apps or through in-app purchases, of which Google earns a 30 percent commission for facilitating the transaction. Accordingly, Android users pay to play these gambl