It has been announced that Penn National Gaming Inc. has bought social games developer Rocket Games Inc. 
The agreed fee for the acquisition of the San Francisco based developer was $60m (£45.1m), with potential incentive payments to certain Rocket executives over the next two years.
Among Rocket’s gaming library are Downtown Deluxe Slots, Triple Double Slots and the popular Viva Slots Vegas. Penn National has stated that it has an audience of over 200,000 daily players.
Rocket Games has said that it had a highly successful 2015 and grew 500% putting it in the top 15 of all social casino gaming companies. Moreover during the six month period up until the end of June it reportedly made $5.6m (£4.2m) of operating EBITDA.
Penn National Gaming President and CEO, Timothy J. Wilmott said: “Penn National’s accretive acquisition of Rocket highlights our ongoing strategic initiative to acquire emerging growth platforms that complement, and allow us to leverage, our core regional gaming operations and database of over three million active customers.
“Since the separation of our gaming assets from our real estate assets in 2013 we have been highly focused on a broad range of growth and diversification initiatives.”
