The Gaming Industry Bets Big on Social Casino Apps
Revenue for social casino market reached $5.2 billion in 2018
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - May 22, 2019) - Investorideas.com, a leading investor news resource covering gaming and technology stocks releases a special snapshot featuring Tapinator, Inc. (OTCQB: TAPM), reporting on how smart gaming industry innovators are turning their eyes towards the social casino market.
According to ResearchMoz, "The global social casino market is supported by various growth drivers, such as rising number of social media users, growing global population, budding internet penetration, emerging smartphones and gaming traffic."
Seeing the future growth of this market, Tapinator, Inc. (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, just announced that it is developing a new social casino game which is scheduled for launch in Q4 2019.
"This upcoming game features a slot mechanic, with innovative metagame systems that have proven their success in the world of real money gaming. The title is made possible through Tapinator's recent licensing deal with a major European real-money slots developer. The real-money version of the product is currently a top performing slot game across over 200 online casinos in a number of European countries. The company will be announcing the details of this partnership closer to the game's launch."
Tapinator also reported, "In 2018, the revenue for the social casino market reached $5.2 billion, according to Eilers & Krejcik. The social casino market grew 10.9% year-on-year in the final quarter of 2018. As a category, it is estimated that slots comprised over 70% of this revenue. Despite the significant revenue generated by slot games on mobile, there has been little innovation in the space. Key developers have focused on improving production values, running live ops, and adding content. This has started to change with the success of Coin Master by the developer, Moon Active. Coin Master features a slot mechanic but its success is based on its metagame systems and social functionality. As a 'Top 15 Grossing' game on iOS, with an estimated $75+ million in annual revenue, Coin Master has proven the top grossing potential for innovative mobile slot games."
"We are big believers in the social casino space on mobile and our social casino product, Video Poker Classic is 'Top 150 in Downloads and Top 100 in Grossing' within the Casino category on iOS. We look forward to using the expertise we've gained in the space to launch, what we believe will be, a successful slots product. The slots space on mobile has been a very lucrative area but has been sparse on innovation. We are starting to see this change, with the introduction of innovative systems that promote player engagement progression and monetization. We believe that, in 2019 we will see the launch of new innovative slot games that join Coin Master as top grossing products. Our expectation is that our licensing deal, combined with our social casino and mobile expertise, will allow Tapinator to successfully bring an innovative and proven slot game to mobile devices," said Tapinator CEO, Ilya Nikolayev.
Global Market Insight says, "The social gaming market is growing at a rapid pace on account of the increasing adoption of advanced gaming technologies, rising income levels, low cost of games, increase in online content, and digital distribution, which allow users to download the content on their systems. Popular social gaming genres, such as social casino is likely to drive the market growth during the forecast period due to the increasing social gaming traffic."
With this in mind, many gaming companies are starting to look into this direction, which allows users to enjoy the thrill of gambling but without the over-the-top losses associated with real casino gambling. This is welcome news for consumers and allows companies to gain popularity and include app purchases for profitability. Gaming is betting big on social gambling, and based on current app usage numbers, so are consumers.
Read the full article at Investorideas.com also featuring Zynga Inc., SciPlay Corporation and The Blackstone Group L.P.
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