RocketGames, a tempCFO client, acquired for $170M by Penn National Gaming
Three-year-old gaming startup Rocket Games, a social gaming and brand licensing company, has been sold to Penn National Gaming. The gaming owner and property manager acquired the social casino company for $170 million. Rocket Games has been recognized as one of the fastest growing social casino companies, growing more than 500% in 2015. It serves digital, social, and mobile markets through apps available on iTunes, Google Play, Amazon, and Facebook.
Penn National Gaming hopes to diversify its reach of physical and digital markets with the acquisition. It currently owns two social casino platforms, Hollywoodcasino.com and Hollywoodslots.com, in addition to slot machines and gaming facilities in seventeen states.
The San Francisco based startup was founded by former Zynga employees, and its CEO Bill Gelpi was Zynga’s former Director of Product. It currently features over fifty games including popular Viva Slots Vegas.
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