Sale of latter to former's "Founding Team" announced.
December 2, 2024
[This unedited press release is made available courtesy of Game Developer and its partnership with notable game PR-related resource Games Press]
My.Games :
AMSTERDAM – Dec. 2, 2024 - MY.GAMES, a leading European video game developer and publisher, announces the sale of Mamboo, a prominent publisher in the hyper-casual gaming sector, to its Founding Team. This strategic decision aligns with MY.GAMES’ primary business focus on mid-core gaming, reinforcing the company's commitment to innovation and growth in this area.
“Working with Mamboo has been a valuable journey for MY.GAMES. However, considering the different focuses of our businesses, we made a strategic decision to part our ways. We believe that Mamboo has strong prospects in their niche and wish the team success in their future endeavors. We trust that this transition will allow Mamboo to continue growing toward their goals and enable their teams to unlock their full potential. As for MY.GAMES, we will remain committed to developing mid-core games that captivate millions, lead their genres, and foster long-term engagement with players,” said Elena Grigorian, CEO of MY.GAMES.
“Mamboo has demonstrated stable year-over-year growth in revenue and EBITDA, along with a high number of daily active users (DAU). The company's core business will remain focused on delivering best-in-class hybrid casual games worldwide. Following the completion of the recent deal, the founding team will concentrate on their strategic priorities in the skill-based gaming sector*. With our extensive experience in scaling operations, we are confident in our ability to become a top-five player in this genre within the next three years,” said a representative from the founding team.
Mamboo Entertainment is a publisher of hybrid-casual and casual games based in Abu Dhabi, UAE. Established in 2020, the team consists of over 50 specialists. In 2021, the company was acquired by MY.GAMES, which has since enabled Mamboo to expand its operations into hybrid-casual games and further develop its portfolio to include over 50 titles. The company is currently exploring new opportunities in the development of skill-based games. Some of the most successful projects are Billion Builders, Volley Beans, Hunting Season, Fish Idle, Shift Race, Worm Out, Sword Ninja, Spider Hero, Loverz, Sniper Strike and more.
*The global skill-based gaming market is projected to expand from $35.61 billion in 2023 to $85.34 billion by 2030, at a compound annual growth rate (CAGR) of 13.3% during the forecast period (Fortune, Business Insights).
About MY.GAMES
MY.GAMES is a leading European publisher and developer headquartered in Amsterdam, with more than one billion registered users worldwide. MY.GAMES has received the 2024 Top Publisher Award by data.ai, being #7 in the EMEA region and #18 in Top Parent Companies Worldwide. The company develops games for mobile, PС and console platforms. War Robots, Hustle Castle, Rush Royale, Left to Survive, and many other games are produced by MY.GAMES. The company unites over a dozen development studios, a strong team of specialists working together from across the globe. For more information, please visit https://my.games/.
About Mamboo Entertainment Mamboo Entertainment is a publisher of hybrid-casual and casual games based in Abu Dhabi, UAE. Established in 2020, the team consists of over 50 specialists. In 2021, the company was acquired by MY.GAMES. The company is currently exploring new opportunities in the development of skill-based games. Some of the most successful projects are Billion Builders, Volley Beans, Hunting Season, Fish Idle, Shift Race, Worm Out, Sword Ninja, Spider Hero, Loverz, Sniper Strike and more. For more information, please visit: https://ent.mamboo.games/publishing/.
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