Sony Pictures Entertainment acquired the Game Show Network in 2019, and part of the purchase included a subsidiary called GSN Games. This division was assigned the task of developing online and mobile gambling games, including slots inspired by Wheel of Fortune. But, perhaps recognising the studio no longer fits its portfolio, the Japanese giant has offloaded the business to smartphone gaming giant Scopely as part of a deal valued at $1 billion.
According to The Hollywood Reporter, the transaction will be paid in a 50-50 split, which will see Sony receive a mix of cash and stock. This will make it a minority shareholder in Scopely – an interesting development considering it’s looking to break into the mobile sector with some of PlayStation’s more recognisable brands.
Sony bigwig Ravi Ahuja had the following to say about the buyout: “In meeting the Scopely team, we knew we found the right organisation to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction.”