Penn National Gaming, Inc, a gaming and racing company with facilities based in Wyomissing, Pennsylvania, announced today that it has acquired Rocket Gamesfor about $60 million. Rocket is a social casino games company based in San Francisco.
The social casino market was worth $3.3 billion in revenues in 2015, according to market analyst Eilers Research. This move will allow Penn National Gaming to extend its casino operations into the digital realm.
“The acquisition aligns with Penn National Gaming’s strategy to acquire emerging growth platforms and expand its business to the social gaming world,” DLA Piper, the law firm that represented Penn National Gaming in the deal, noted in a press release sent to GamesBeat. “Following the transaction, Rocket Games will remain headquartered in San Francisco and its existing management team will continue to run its day-to-day operations.”
Rocket Games was founded in 2013. It has developed casino games for mobile and social platforms like Viva Slots Vegas.