Slot machine giant Bally Technologies announced Thursday it would pay up to $100 million to acquire a social gaming company.
Bally said it would purchase Dragonplay, an Israel-based social gaming business, which is considered one of the industry’s top 10 grossing social game developers with 700,000 active daily users and 3 million monthly users.
Bally will pay $51 million in cash and up to $49 million over the next 18 months. The transaction is expected to close next month.
The deal puts Bally, a traditional slot machine manufacturer, into the growing social gaming market, joining rival International Game Technology and Caesars Entertainment Corp., as the leading companies in the industry.
Dragonplay offers both poker and casino games with Live Hold’em Pro the top game in its category, Bally said.
