DoubleDown Interactive, a leading gaming company delivering exceptional player experiences across multiple genres, announced that it has entered into a Share Purchase and Transfer Agreement with Azerion Tech Holding to acquire WHOW Games GmbH, a social casino developer headquartered in Hamburg, Germany.

The initial consideration for 100% ownership interest in WHOW Games is €55 million (approximately $64.7 million). An additional earn-out payment of up to €10 million, payable to Azerion at €5 million annually, is contingent upon WHOW Games meeting certain performance targets during each of the first and second year following the closing date. The acquisition will be financed through DoubleDown’s cash reserves and is expected to close during the third quarter of 2025.

DoubleDown intends to leverage WHOW Games’ proven expertise in the Europe market and partner-driven business model alongside its own operational strength, marketing capabilities and extensive gaming content to pursue growth opportunities in Europe, particularly in Germany. According to research from Eilers & Krejcik Gaming LLC, the European social casino market grew in 2023 and 2024 as compared to the overall market which has entered a mature stage. WHOW Games offers a versatile portfolio of social casino apps with proprietary brands such as MyJackpot and Lounge777 as well as third-party labeled social casino offerings including Merkur24 through strategic licensing agreements with prominent global brick and mortar casino companies.

In Keuk Kim, Chief Executive Officer of the Company, said: “This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market. Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies. We are delighted to welcome the WHOW Games team to DoubleDown and look forward to working collaboratively on initiatives to drive growth across the business.”

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Giovanni Valerio Valeriota, Chief Executive Officer of WHOW Games, said: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for WHOW Games, and we believe that this partnership will accelerate our growth and innovation. I would like to express our sincere gratitude to Azerion, whose support and strategic guidance during our time together has been instrumental in shaping WHOW Games into the strong and dynamic company it is today.”

Ukraine’s Security Service, the State Service of Special Communications and Information Protection, the National Commission for the State Regulation of Electronic Communications, Radiofrequency Spectrum and the Provision of Postal Services (NCEC), and the Association of Ukrainian Gambling Operators (AUGO) have jointly blocked 133 illegal online casinos operating within Ukraine’s digital space.

According to AUGO’s press release on Tuesday, Derzhspetszviazok issued Directive No. 435/3236 on July 1, ordering the blocking of IP addresses and websites involved in illegal gambling. The directive was sent to internet providers and industry associations on July 3 and is mandatory for implementation within three working days—by July 8.

The association estimates that the joint operation disrupted a shadow business generating UAH 3 to 5 billion in illicit turnover every quarter.

Beyond blocking the sites with technical and software tools, the operation included broader organisational and technical efforts targeting the infrastructure that enabled these illegal platforms to function. Notably, unauthorised financial processing was halted, and associated P2P transactions were frozen.

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“In chess terms – white has made the first move, and black is already losing pieces on the board… No, w’re not grandmasters yet. But this will be a decisive chess match, and we’re convinced the illegal players will eventually have no choice but to leave the game,” said AUGO President Oleksandr Kohut, as quoted in the press release.

He emphasised that illegal casinos – most of which now have ties to Russia – inflict direct harm on the Ukrainian state, legal businesses and its citizens. These sites, which are frequently cloned after being blocked, also pose a high risk of fraud and the leakage of players’ personal and financial data.

This marks the first time the Security Service, Derzhspetszviazok, and NCEC have actively partnered with AUGO on such an initiative. The association, which was launched three months ago, provided software, analytical and informational support for the operation to dismantle the illicit online gambling sector.

Kohut affirmed that AUGO remains committed to further collaboration with regulators – including the Ministry of Digital Transformation and the newly formed PlayCity agency – as well as with law enforcement to swiftly detect and shut down illegal casinos online. AUGO also plans to work with state regulators to inform media outlets of future blocking decisions as soon as they are made and communicated to telecom operators.