GCA Altium is now part of Houlihan Lokey

Transaction Details

November 1, 2012
London Sloane St


Digital Media and Media

Deal Type


Deal Value


Deal Team

Jonathan Norman

Product Madness sold to Aristocrat

Product Madness: leading social casino publisher and developer

Headquartered in San Francisco and founded in 2007, Product Madness is a leading social casino publisher and developer providing social casino entertainment on Facebook and mobile platforms.

The company operates and publishes a portfolio of casino titles with DAU and MAU in excess of 500k and 3.5m respectively. The core titles in its Facebook portfolio include Hollywood Spins, 3D Slots and Team Slots, whilst on mobile it debuted in the iOS app store this year with Speed Slots and followed with Bingo Madness.

Significant transaction in the global social casino space

Aristocrat is one of the leading global gaming equipment suppliers, listed in Australia. The company designs and distributes gaming content and associated platform systems including electronic gaming machines, interactive video terminals and casino management systems. Aristocrat is licensed by over 200 regulators and operates in over 90 countries worldwide and in 2011, it generated revenues of ~A$700m and EBITDA of ~A$150m.

Aristocrat has acquired 100% of the outstanding equity share capital of Product Madness, and as a result of the transaction Product Madness will be able to participate in content, platform and geographic growth opportunities as well as real-money wagering as permitted. It also gives Aristocrat not only Product Madness’ deep operational social casino experience, but also its best-in-class, proprietary technology stack and the ability therefore to develop a B2B product alongside the existing B2C business.

GCA Altium acted as exclusive financial advisor to Product Madness.

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