Did you know that Sony Pictures has its own mobile games division? Well, he did, before he sold it for $ 1 billion.
Today Sony Pictures Entertainment announcement he sold GSN Games, a subsidiary of his Game Show Network responsible for popular mobile games, to the smartphone mogul Scope for a total of $ 1 billion. The payout is made up of $ 500 million in cash and $ 500 million in equity, which allows Sony Pictures to become a minority shareholder of Scopely.
GSN Games is in fact 14 years old and Sony claims that the division has done “excellent business” which has generated “strong and growing profits” since 2007. GSN Games is a subsidiary of 400 employees responsible for casual mobile games like Bingo Bash , which has been played by over 70 million people, and Solitaire TriPeaks, which has over 100 million hands dealt each week. GSN Games also manufactures mobile casino games.
Scopely has grown steadily since acquiring FoxNEXT from Disney earlier in 2020, securing its lucrative Marvel Strike Force development team.
It’s worth noting that Sony Pictures Entertainment is working with PlayStation Productions to create new live-action movies and TV shows based on wholly owned PlayStation franchises like Uncharted, Ratchet & Clank, and Twisted Metal.
This influx of cash will help fund new movies as well as experiments like PlayStation Productions projects.