DoubleDown Interactive Co. Ltd. (NASDAQ: DDI)

DoubleDown Interactive Co. Ltd. (NASDAQ: DDI)

DoubleDown Interactive Co. Ltd. (NASDAQ: DDI) is a leading developer and publisher of digital games on mobile and web-based platforms serving the global market. The company has created multi-format interactive experiences for casual players, bringing authentic Las Vegas-style entertainment to players around the world through an online social casino gaming platform.

DoubleDown Interactive develops and publishes digital game content through its all-in-one game experience concept with a unified mission of becoming the best gaming company by creating fun for everyone. DoubleDown Interactive’s flagship title, DoubleDown Casino, has been a fan favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games. Other games developed by the company include DoubleDown Fort Knox, DoubleDown Classic Slots and Undead World, a zombie apocalypse adventure.

The company’s social and mobile apps operate on a free-to-play model. Players collect virtual in-game currency free of charge through accumulated playing time or by participating in targeted marketing promotions. If a player wants more virtual currency than they can accumulate by playing, they may purchase additional virtual currency in the app. The purchased virtual currency is deposited into the player’s account and is not separately identifiable from previously purchased virtual currency nor virtual currency obtained for free. Virtual currency cannot be redeemed for cash nor exchanged for anything other than gameplay within the company’s apps.

The company is headquartered in Seoul, South Korea, with U.S. offices in Seattle, Washington.

Games

DoubleDown Casino

As DoubleDown Interactive’s flagship app, DoubleDown Casino entertains over a million players every day with a wide variety of Vegas-style slots and originals. The app includes over 150 slots and table games like blackjack, roulette and video poker. Players can raise the stakes in the High Limit Room or go for the exclusive Megabucks Jackpot. They can also play with friends. DoubleDown Casino is available on iOS and Android devices, and on the web.

DoubleDown Fort Knox

DoubleDown Fort Knox has a lobby full of Vegas-style favorites and slot originals, plus a lobby for classic casino slots. Players can go for the Fort Knox bonus or enjoy prizes throughout the day with the daily wheel bonus, timed bonuses and fun scratchers. They also can complete daily challenges to fill their bingo cards. Players have multiple ways to get daily free credits. DoubleDown Fort Know is available on iOS and Android devices.

DoubleDown Classic Slots

DoubleDown Classic Slots is an app for Vegas-goers who love the fun and simplicity of classic slots. Players looking for an authentic Vegas-style experience can enjoy three-reel and five-reel classics. They can collect the daily bonus and timed bonuses to rack up credits and unlock Megabucks jackpots to play for huge wins. Full of nostalgic sound effects and bright lights, the app is available on iOS and Android devices.

Undead World: Hero Survival

Players build a team of heroes to battle zombies while gathering resources in this roleplaying game. Players can develop and test their strategies, recruit heroes and build powerful teams to battle zombie hordes. They must also watch out for enemy factions, because, even in the zombie apocalypse, the humans can’t all just get along! Players team up with friends to combine forces and share resources, then meet up in the Arena to see whose squad reigns supreme. Undead World: Hero Survival is available on iOS and Android devices.

Market Outlook

Market analyst ResearchandMarkets pegged the value of the global social casino games market at $6.83 billion in 2021. The firm forecasts the market will continue to expand, expecting it to reach a global value of $8.7 billion in 2026, growing at a CAGR of 6.24% for the analysis period of 2022-2026.

The firm says factors such as rapid expansion of the digital games industry, the rising number of mobile games users, an increasing number of smart devices and high-speed data connections, worldwide growth of internet users and a surging number of social media users will continue to drive the growth of the market.

The fastest growing regional market is North America due to the growing popularity of social casino games among all age groups; the increasing availability of smartphones, tablets and technology-based offerings; and the expanding adoption of 5G technology.

Management Team

In Keuk Kim is CEO and a member of the board of directors at DoubleDown Interactive. He has expertise in information technology, game business development and strategic investments. His prior experience includes cloud computing development, proprietary trading and corporate mergers and acquisitions. He received a bachelor’s degree in computer science from the Korea Advanced Institute of Science and Technology.

Joseph A. Sigrist is the CFO and a member of the board of directors at DoubleDown. Prior to joining the company, Mr. Sigrist served as senior vice-president, Global Product Development & Operations, for IGT. For more than 20 years, he worked as an executive for a variety of technology companies, holding senior leadership roles in product management and development at Avaya, Polycom and Lucent Technologies.

Haenam Kim is Chief Marketing Officer and a member of the board of directors at DoubleDown. She previously served as the company’s COO. Prior to joining DoubleDown, she held various roles in business consulting and software marketing, sales, and operations at IBM Korea, including the position of Software Business Unit Sales Leader, leading a team for analytics, cloud, security, social and commerce.

Ki Chul Kim is Chief Data Officer and a member of the board of directors at DoubleDown. His prior roles at the company included overseeing the marketing, platform, communication, design and quality assurance teams. Previously, he was a director of Hulab Co. Ltd. He received a bachelor’s degree in civil, urban and geosystem engineering and a Bachelor of Business Administration from Seoul National University.