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DoubleDown Interactive Reports Fourth Quarter and Full Year 2023 Financial Results

DoubleDown Interactive, a leading developer and publisher of digital games on mobile and web-based platforms, announced its unaudited financial results for the fourth quarter and year ended December 31, 2023. The Company’s consolidated financial results for the three- and twelve-month periods ended December 31, 2023 include 61 days of contributions from European iGaming operator, SuprNation, which was acquired by the Company on October 31, 2023.
Fourth Quarter 2023 vs. Fourth Quarter 2022 Summary:
- Revenue was $83.1 million in the fourth quarter of 2023 compared to $76.2 million in the fourth quarter of 2022. Revenue contributed by SuprNation totaled $4.3 million for the 61 days the Company owned and operated the business. Revenue exclusive of the contributions from SuprNation increased 3% year over year to $78.8 million.
- Operating expenses declined to $47.5 million in the fourth quarter of 2023 from $321.4 million in the fourth quarter of 2022, primarily reflecting the one-time, non-cash goodwill and intangibles impairment of $269.9 million incurred in the fourth quarter of 2022.
- Adjusted EBITDA was $36.2 million for the fourth quarter of 2023, an increase from $24.7 million for the fourth quarter of 2022, primarily due to higher revenue and lower cost of revenues and sales and marketing expenses, partially offset by higher general and administrative expenses. Adjusted EBITDA margin increased to 43.5% in the fourth quarter of 2023 from 32.4% in the fourth quarter of 2022.
- Net income was $25.5 million, or earnings per fully diluted common share of $10.27 ($0.51 per American Depositary Share (ADS)), in the fourth quarter of 2023, compared to a loss of $(194.4) million, or a loss of $(78.47) per fully diluted common share ($(3.92) per ADS), in the fourth quarter of 2022. Note each ADS represents 0.05 share of a common share.
- Average Revenue Per Daily Active User (ARPDAU) for the Company’s social casino/free-to-play games increased to $1.24 in the fourth quarter of 2023 from $0.98 in the fourth quarter of 2022 and $1.06 in the third quarter of 2023.
- Average monthly revenue per payer for the social casino/free-to-play games increased to $279 in the fourth quarter of 2023 from $227 in the fourth quarter of 2022 and $245 in the third quarter of 2023.
In Keuk Kim, Chief Executive Officer of DoubleDown, said: “Our fourth quarter results, which include a 3% year-over-year increase in core social casino revenue to $78.8 million and a 46% increase in Adjusted EBITDA to $36.2 million, highlight our best-in-class ability to monetize our loyal players combined with our disciplined approach to user acquisition and R&D spend which drives consistent profitability and strong free cash flow. We continue to deliver strong engagement metrics for our flagship social casino game DoubleDown Casino, as ARPDAU and average monthly revenue per payer rose 26% and 23%, respectively, compared to the 2022 fourth quarter. As a result, cash flows from operating activities were approximately $30 million in the fourth quarter.
“Our acquisition of SuprNation in the fourth quarter marked our entrance into the European iGaming market and we are moving quickly on a range of initiatives to scale the business which will be our initial focus before we turn to optimizing the cash flow generated by this business. These initiatives include increasing marketing investment and leveraging our legacy of marketing and product expertise to grow SuprNation’s market share in its core U.K. and Sweden markets.
“We place a primary focus on being capital efficient as reflected in our strong Adjusted EBITDA margins and free cash flow generation. At 2023 year-end, cash and cash equivalents and short-term investments net of current borrowing were approximately $235 million, which is equivalent to approximately $4.75 per ADS. Our strong net cash position and consistent ability to generate attractive free cash flow provides the Company with significant flexibility to evaluate further opportunities to deploy capital that would continue to expand our business in gaming categories with attractive addressable markets and where our operating discipline would ultimately deliver additional free cash flow and create new value for our shareholders.”
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Casino Kings Knocks Out Partnership with Boxing Powerhouse BoxNation

Two titans of entertainment are joining forces! UK-licensed casino and sportsbook, Casino Kings, and the legendary boxing platform, BoxNation, have announced a dynamic new partnership, set to deliver a knockout blow of exclusive content, promotions and responsible betting experiences for fans. Becoming their official boxing betting partner, Casino Kings is stepping into the ring with one of the most respected names in the fight game, promising fans a ringside seat to even better betting.
This isn’t just a bell ringing for another sponsorship deal; it’s a knockout partnership designed to bring you closer to the action than ever before. Casino Kings branding will be engrained into the boxing industry, prominent across BoxNation’s popular YouTube channel through branding and content, where the biggest names and personalities in boxing step into the spotlight for exclusive interviews.
For you savvy fight fans, Casino Kings will be rolling out a series of exclusive offers, adding even more thrill to 2025’s already-explosive boxing schedule. And here’s a great way to kick things off: Casino Kings is welcoming new members with a £35 Free Bet! Just deposit a minimum of £10 and place bets of £10 or more to grab yours. Don’t miss out!
Given BoxNation’s powerful presence in the boxing arena and Casino Kings’ reputation as a premier UK online casino and sports betting platform, this partnership is bound to be a knockout you won’t want to miss.
“We’re buzzing to partner with BoxNation—this really puts Casino Kings in the heart of the action.” Says Jack Dunn, COO of Casino Kings. “The team have been absolutely brilliant, and we’re excited to get stuck into some top-tier behind-the-scenes boxing content for the fans!”
“BoxNation is delighted to announce our partnership with Casino Kings. Casino Kings has a great reputation for delivering sports and entertainment options for users. We look forward to working together with Casino Kings to create a safe and enjoyable experience for fans.” adds Umar Ahmed, BoxNation Channel Lead.
Want to be the first to know? Follow Casino Kings and BoxNation on social media now for instant updates, special offers, and all the ringside action!
About BoxNation:
BoxNation is a dedicated boxing news and media outlet, providing fans exclusive interviews and behind the content featuring the boxing’s biggest names and personalities. With over 95k YouTube subscribers and 50 million plus views, BoxNation is delivering the best boxing content from all around the world. To find out more about BoxNation, visit: www.youtube.com/@BoxNationOfficial
About Casino Kings:
Casino Kings isn’t just another UK-licensed online casino and sportsbook – it’s a platform that puts player well-being first. Deeply committed to responsible gambling, they offer a secure environment equipped with robust tools to empower users to manage their play effectively. Beyond this dedication, Casino Kings delivers consistently fair and competitive odds across a thrilling selection of sports. Plus, the king casino team consistently provides their players with the best welcome bonuses, weekly promotions, daily offers, and much more!
Let’s keep the fun in the game. Please remember to gamble responsibly. 18+ only. For more information, visit: www.gambleaware.org.
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Grand View Research: Global Sports Betting Market Size is Estimated to Reach USD 187.39 Billion by 2030

The global online gambling market size is estimated to reach USD 153.57 billion by 2030, registering a CAGR of 11.9% from 2025 to 2030, according to a new report by Grand View Research.
Sports Betting Market Report Highlights:
• The offline segment accounts for a significant revenue share in the sports betting industry in 2024, particularly in regions with a mature gambling infrastructure such as Europe and Australia.
• Based on the sports type football segment dominated the sports betting market, holding the largest share due to its vast international fan base and the continuous presence of domestic and international tournaments.
• Live/In-Play Betting emerged as the leading segment in the sports betting market in 2024, thanks to its real-time and interactive nature.
• Europe sports betting market accounts for the largest revenue share of around 48% in 2024. The sports betting market in Europe is continually evolving, bolstered by established regulations in several countries and increasing digital engagement.
The growth of the global sports betting market is driven by the proliferation of internet infrastructure and evolving regulatory landscape of the entire gambling industry across the world. In addition, the increase in the number of sports events and leagues worldwide such as the NFL, FIFA World Cup, Carabao Cup, and UEFA Europa League has positively influenced the growth of the market. Furthermore, an increase in disposable income and the rising usage of AI and blockchain technologies to improve the prediction algorithms in betting software are likely to boost the growth of the market during the forecast period.
Esports, which is an organized, multiplayer video game competition, played by professional players, individuals, or teams, has gained massive popularity during the COVID-19 pandemic and witnessed a surge in the number of events worldwide. Market players are utilizing the increased number of esports events to offer an opportunity for their customers to bet on such esports competitions and earn extra income. The surge in online sports events backed up by a rise in the number of esports tournaments offers stable growth opportunities for the betting industry. For instance, according to the report by the UK Gambling Commission, there was a huge 2922% year-on-year rise in esports betting revenue from March 2019 to March 2020.
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CANJ Launches “Casinos United Against Hunger” Campaign

In an effort to address food insecurity in New Jersey, the Casino Association of New Jersey (CANJ) has launched the Casinos United Against Hunger campaign in partnership with the Community FoodBank of New Jersey (CFBNJ). Atlantic City casinos collectively are donating more than $170,000 to support CFBNJ’s mission.
“Ending hunger will take all of us stepping up to do more for our neighbors. Atlantic City casinos are coming together to form Casinos United Against Hunger, a new campaign dedicated to strengthening our efforts to combat food insecurity in New Jersey. By supporting important organizations like the Community FoodBank of New Jersey, we will help address hunger by providing meals to families throughout the state,” said Mark Giannantonio, president of the Casino Association of New Jersey.
The donation was presented at CFBNJ’s Night of 300,000 Meals on May 1, 2025, a culinary event that brings together local chefs, restaurants and community members to help provide 300,000 meals for neighbors in need. Chefs from Atlantic City casinos participated in the annual event.
“Atlantic County has some of the highest rates of food insecurity in the state. We’re grateful to the Casino Association of New Jersey for helping to honor the FoodBank’s 50th anniversary with their generous support and for uniting the Atlantic City casino community to help address hunger. Through this partnership, we can provide more meals to local families in need and make a lasting impact in the area,” said Elizabeth McCarthy, president & CEO of the Community FoodBank of New Jersey.
In addition to the CFBNJ’s 50th anniversary, the partnership between the CANJ and CFBNJ comes at an especially crucial time given the level of food insecurity in New Jersey. Nearly 1 million people in the state, including more than 260,000 children, are at risk of hunger. Atlantic County, home to Atlantic City’s casinos, has some of the highest rates of food insecurity in the state, with 12.2% of residents and 17.4% of children affected.
The casinos involved in the Casinos United Against Hunger initiative – Bally’s Atlantic City Casino Resort, Borgata Hotel Casino & Spa, Caesars Entertainment’s Atlantic City Resorts, Golden Nugget Atlantic City, Hard Rock Hotel & Casino Atlantic City, Ocean Casino Resort and Resorts Casino Hotel – are joining a long-standing tradition of support for CFBNJ. Many properties in Atlantic City are longtime supporters of CFBNJ, and this collective effort demonstrates their commitment to addressing this critical issue. Through this partnership, CFBNJ will be able to distribute more meals to families in need, especially in areas that are most impacted. The $170,000 donation is a total of all financial, grant and in-kind contributions from each Atlantic City casino to the CFBNJ this year.
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