Skip to main content Go body Go Menu
G03-8236672469

WGames recorded 1Q operating profit of 26 billion won

NSP NEWS AGENCY, By dILFUZA Sultanova Jo, 2018-05-11 16:57 END7
#Wgames #profit #finance #1Q

(Seoul=NSP News Agency) dILFUZA Sultanova Journalist = WGames renewed payment of $ 100 million for the first time 1Q for 2018. The social casino market grew 7.6% from the peak season, reaching $ 106.5 million, with KRW113.9 billion in sales.
WGames' revenues for the first quarter of 2018 recorded 113.9 billion won on a consolidated basis, operating profit of 26 billion won, and net profit of 13.8 billion won. Sales grew 175.2 %, operating profit 55.0 %, and net profit 20.6% compare to the last year.
"In the last quarter the amount of settlement at Double-Down Casino has increased significantly, and the synergy between two companies has been full-fledged after M&A.", “As the Double-Down Casino will be normalized, the company plans actively seek additional growth engines such as listing the domestic market and M&A.” said Won Yong Joon, Chief Financial Officer of WGames.
Meanwhile, WGames announced that it plans list The8Games, the domestic parent company of US Double-Down Interactive, on the domestic stock market. The company plans to complete the listing in October of the 4th quarter after requesting a preliminary screening in April next year.

NSP News Agency/NSP TV dILFUZA Sultanova Journalist, dilfuza@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.

G03-8236672469