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    A192080   KR7192080000

DOUBLEUGAMES CO., LTD.

(A192080)
  Report
End-of-day quote Korea Stock Exchange  -  2022-11-24
49250.00 KRW   +0.82%
11/10Doubleu Games Swings to Loss in Q3
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09/26South Korean Game Firms' Cash Hoard Plunges 42% in H1
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08/30DoubleUGames Co., Ltd. authorizes a Buyback Plan.
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DoubleUGames : DoubleU Games to Purchase Additional Shares of DoubleDown Interactive from Current Shareholder

10/07/2021 | 07:01am EST

SEOUL, Korea, Oct. 07, 2021 (GLOBE NEWSWIRE) -- DoubleU Games (192080:KS), a leading developer and publisher of social casino games, has advised DoubleDown Interactive (NASDAQ:DDI) (DDI) that it intends to acquire outstanding common shares of DDI in accordance with the Supplemental Agreement to the Joint Investment Agreement between DoubleU Games, DDI, and STIC Special Situation Diamond Limited (STIC), dated July 16, 2021.

DoubleU Games has agreed to purchase from STIC 161,927 common shares at a price per share of US$360.00, which is the equivalent of 3,238,540 ADSs of DDI, through this transaction. Twenty (20) ADSs represent one common share in DDI. After consummation of the transaction, the number of DDI common shares owned by DoubleU Games will increase from approximately 60.5% to 67.0% of the total issued and outstanding common shares of DDI. The transaction is expected to close by the end of October 2021.

Jay Choi, CFO at DoubleU Games, said, “Doubleu Games has strong confidence in DDI’s long-term growth, and based on this, we have decided to acquire the shares. The two companies will continue to grow collaboratively based on this solid relationship.”

About DoubleU Games

DoubleU Games Co., Ltd. is a Korea-based game development company. It offers multiple gaming products such as ‘DoubleU Casino’ and ‘Take5 Slots’ and others. The company was founded in 2012 and was listed on the KOSPI in 2019 through continuing growth. DoubleU Games Co., Ltd. is DoubleDown Interactive Co., Ltd.’s majority shareholder and has a strong position in the global social casino market.

About DoubleDown Interactive

DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. DDI is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.

Safe Harbor Statement

Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Company Contact:
IR Team
ir@doubleugames.com
http://www.doubleugames.com/

 


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Source: DoubleDown Interactive Co., Ltd.

2021 GlobeNewswire, Inc., source Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
DOUBLEDOWN INTERACTIVE CO., LTD. 0.00% 8.44 Delayed Quote.-45.55%
DOUBLEUGAMES CO., LTD. 0.82% 49250 End-of-day quote.-14.94%
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Financials
Sales 2022 625 B 0,47 B 0,47 B
Net income 2022 35,3 B 0,03 B 0,03 B
Net cash 2022 386 B 0,29 B 0,29 B
P/E ratio 2022 25,5x
Yield 2022 1,47%
Capitalization 837 B 627 M 627 M
EV / Sales 2022 0,72x
EV / Sales 2023 0,53x
Nbr of Employees 311
Free-Float 48,9%
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Number of Analysts 9
Last Close Price 49 250,00 KRW
Average target price 61 888,89 KRW
Spread / Average Target 25,7%
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Managers and Directors
Ka-Ram Kim Chief Executive Officer & Director
Hyung-Jin Kim Executive Board Member & Head-Development Center
Shin-Jung Park Director, Vice President & Head-Operations
Hyung-Soon Choi Independent Director
Sung-Yong Han Independent Director
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