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    A035760   KR7035760008

CJ ENM CO., LTD.

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S.Korea's Netmarble buys Hong Kong-based casino game app co SpinX for $2.19 billion

08/02/2021 | 07:42am EDT

SEOUL (Reuters) - South Korean game developer Netmarble Corp said on Monday it agreed to buy 100% of Hong Kong-based social casino game company SpinX Games for $2.19 billion.

Netmarble acquired SpinX through its holding company based in the Cayman Islands, in an effort to diversify its game portfolios and strengthen global business competitiveness, it said in a regulatory filing.

SpinX, established in 2014, offers casino game mobile apps such as "Cash Frenzy" and reported a 328.9 billion won ($285.99 million) revenue as of end-second quarter of this year, ranking third out of firms in the global mobile social casino genre, Netmarble said.

Netmarble is backed by Tencent, which holds a 17.5% stake in the South Korean game company, the third-largest stake after those of founder Bang Jun-hyuk and CJ ENM.

($1 = 1,150.0300 won)

(Reporting by Joyce Lee, editing by Louise Heavens)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CJ ENM CO., LTD. -2.02% 106500 End-of-day quote.-23.27%
ENM HOLDINGS LIMITED 0.00% 0.61 Delayed Quote.14.55%
NETMARBLE CORPORATION -2.85% 78500 End-of-day quote.-37.20%
TENCENT HOLDINGS LIMITED -0.77% 335.4 Delayed Quote.-24.08%
All news about CJ ENM CO., LTD.
05/20CJ ENM : Organization of Investor Relations Event
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05/11TRANSCRIPT : CJ ENM CO., Ltd., Q1 2022 Earnings Call, May 11, 2022
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04/06CJ ENM : Decision on Cash Dividend and Dividend in Kind
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02/17CJ ENM : Decision on Paid-in Capital Increase(Voluntary Disclosure)(Material Management Ma..
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02/10CJ ENM : Timely Disclosure Related(Fair Disclosure)
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02/10TRANSCRIPT : CJ ENM CO., Ltd., Q4 2021 Earnings Call, Feb 10, 2022
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Financials
Sales 2022 4 151 B 3,28 B 3,28 B
Net income 2022 157 B 0,12 B 0,12 B
Net Debt 2022 989 B 0,78 B 0,78 B
P/E ratio 2022 14,8x
Yield 2022 1,80%
Capitalization 2 208 B 1 747 M 1 747 M
EV / Sales 2022 0,77x
EV / Sales 2023 0,68x
Nbr of Employees -
Free-Float 46,8%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 106 500,00 KRW
Average target price 167 750,00 KRW
Spread / Average Target 57,5%
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Managers and Directors
Min-Hoe Huh Co-Chief Executive Officer, Director & VP
Min-Ho Heo Co-Chief Executive Officer, Director & VP
Jae-Min Baek Managing Director & Head-Finance
Hee-Young Yang MD & Head-Information Technology Strategy
Hyeong-Jin Jeong Managing Director & Head-IP Operations
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