Huuuge reveals intent to review strategic options

The company has launched an internal review into its processes to increase monetisation.

Huuuge reveals intent to review strategic options

Free-to-play developer Huuuge Games has announced a review of its strategic options as it looks to take the company into the future.

Huuuge has 600 employees worldwide, working in offices in offices worldwide, including the US, UK, and Poland. The company is best known for its social casino games, such as Huuuge Casino and Billionaire Casino but has been branching out in recent years, acquiring the rights to match 3 title Traffic Puzzle last year.

In 2021, the company made its debut on the Warsaw Stock exchange, in the largest listing by a mobile gaming company in Europe.
The purpose of this review is to look into available courses of action available to the company, allowing it to maximise value. The company is open to a variety of strategic options, which may include identifying strategic investors or pursuing potential transactions which could change the shareholding structure.

In the meantime, Huuuge will continue on course with its current strategy and business operations.

As part of the strategic review, the company will engage in talks with several parties who have already sent several unsolicited indications of interest, which will be considered by the board of directors.

The two largest shareholders, Big Bets and Raine, have both indicated their support for the process.

To facilitate the review, the board of directors have appointed a special committee, as well as engaging Lazard as financial advisor and Pillsbury and CMS as legal advisors.

Huuuge has had a busy twelve-month period, reporting $84 million in revenue for 1Q22. In April, the company appointed Activision veteran Rob Cousens as its co-CEO.

Last year, we named Huuuge as one of the top 50 mobile game makers of 2021. We’ll be publishing our list for 2022 later this year.

Staff Writer

Lewis Rees is a journalist, author, and escape room enthusiast based in South Wales. He got his degree in Film and Video from the University of Glamorgan. He's been a gamer all his life.