Raid: Shadow Legends Developer Sold for $820 Million
Australian slot machine manufacturer Aristocrat Leisure has completed the sale of its subsidiary Plarium, the developer of the mobile role-playing game Raid: Shadow Legends, to the Swedish company Modern Times Group for up to $820 million.
The deal includes a fixed amount of $620 million, with an additional $200 million depending on Plarium's achievement of certain financial targets from 2025 to 2028. The sale aligns with Aristocrat's strategic shift towards mobile games and the real money gaming market.
This move was made after Aristocrat's Pixel United division reported a decline in revenue from casual and mid-budget games. In May, Aristocrat announced a review of its mobile game portfolio to identify opportunities for restructuring and sales.
The acquisition of Plarium will add Raid: Shadow Legends and other mobile games to Modern Times Group's portfolio. It is forecasted that the combined company's annual revenue will exceed 12 billion Swedish kronor ($1.11 billion), with an expected EBITDA exceeding 3 billion Swedish kronor.
