GSN Games buys Bash Gaming
Online video game maker GSN Games recently announced that it has acquired Bash Gaming, maker of the popular online casino game Bingo Bash. While neither company disclosed the details of the business acquisition, the website VentureBeat reported an estimate of $160 to $170 million. This purchase suggests that social casino gaming, seen by many as a money wasting activity, is still very much a revenue generating enterprise.
Bingo Bash is compatible with Facebook, iOS, Android and Amazon Kindle. With this technology acquisition, GSN said in a press release that it will have the second-highest monthly active user base in Facebook's casino games category.
"This transaction will not only strengthen the GSN Games portfolio, it supports our strategy of building a diverse business, operating across all major platforms, with a broad portfolio of titles in both social casino and skill tournament genres," said Jeff Karp, executive vice president, mobile and social games of GSN Games, in a statement. "With the Bash Gaming acquisition, we will expose our millions of social casino players to the Bingo Bash experience."
Sumit Gupta, founder and CEO of Bash Gaming echoed Karp's sentiment, saying that with the new partnership, it can now reach a new market of potential players.
GSN Games was founded in 1999 and is a part of the larger firm GSN (Game Show Network). Its parent company is owned by Sony Pictures Entertainment and DirecTV. The gaming website also focuses on social and mobile platforms and has about 56 million regular players.
Bash Gaming has 140 employees, who will continue to work for GSN Games once the deal is complete. Pending regulatory approval, the acquisition is expected to close by the end of March.