iGaming software provider SOFTSWISS has acquired a significant stake in Ously Games GmbH, the company behind European social casino SpinArena.net.
As part of the investment, SOFTSWISS will partner Ously Games to develop a new comprehensive software solution for social casinos, aligning with recent iGaming industry trends.
Social casinos, a fast-developing trend in online entertainment, offer a unique fusion of popular casino games and social networking features, explains SOFTSWISS. Unlike traditional casinos, they operate without real-money betting, utilizing virtual currency for gameplay. The primary revenue for social casinos stems from virtual goods sales, which enrich gameplay.
The business model of launching a social casino has no license requirements or advertising restrictions and grows globally year by year, the provider notes. As per estimates of Business Research Insights, the global social casino games market is projected to reach 10 billion euros by 2030. About 85 million people around the globe daily play at social casinos, according to the Australian Communications and Media Authority.
SpinArena.net, the largest European social casino by number of slot games, has seen its player base triple since the beginning of 2023, surpassing 700,000 players. With over 3,000 games from almost 40 providers, the casino reached an annual turnover of one million euros.
“Anticipating the development of social casinos within the iGaming industry, SOFTSWISS made strategic investments to diversify its portfolio. Together, we aim to create a comprehensive platform for social casinos, enriching the robust ecosystem of iGaming products provided by our company,” Ivan Montik, Founder of SOFTSWISS, said.
“We are delighted to forge a strategic partnership with the global technology provider SOFTSWISS. This alliance brings invaluable insights, innovations, and profound expertise to both parties,” Jochen Martinez, founder of Ously Games, said.
“The deal demonstrates our commitment to driving growth and mutual development. Collaborating with SOFTSWISS opens new horizons and ensures access to top-notch resources and support essential for thriving in the competitive iGaming landscape.”