[IPO] Metuzen "Global Leading Casual Game Company... Confident in Second Leap"

[Asia Economy Reporter Jang Hyowon] Social casino and casual game company Meetogen is knocking on the door of the KOSDAQ market. Meetogen, a subsidiary of MeetOn, confidently stated that it will achieve a second leap forward by expanding its new casual game business.

Changwook Son, Chairman of Metuzen.

On the 29th, Son Changwook, chairman of Meetogen, held a press conference in Yeouido, Seoul, saying, “Meetogen, which has secured a diversified game portfolio including social casino and casual games and excellent business performance, is already receiving great attention in the global market,” and added, “We are confident in becoming a global leading casual gaming company through the expansion of the new casual game business.”

Acquired by MeetOn in 2017, Meetogen is a global company that provides social casino and casual games. Starting with the launch of mobile social casino games in 2012, it has its own unique game know-how and has built a portfolio of more than 42 games across three genres: ‘social casino’ and casual games such as ‘Solitaire’ and ‘Trypicks.’

Meetogen’s game genres are categorized as ▲‘social casino,’ which secures stable revenue through excellent operational capabilities ▲classic card game ‘Solitaire,’ which consistently generates profits based on high profitability ▲new strategic casual card game ‘Trypicks,’ which is showing rapid growth. The strengths of each genre harmonize to successfully diversify the business by securing a casual game portfolio.

In addition, by utilizing BI (Business Intelligence) and AI (Artificial Intelligence) systems, Meetogen analyzes user behavior patterns and data to determine marketing channels and offers differentiated payment package services. It is explained that the marketing capabilities using a self-built big data system and machine learning have greatly contributed to revenue growth and profitability expansion.

Meetogen achieved rapid growth with sales of 102.7 billion KRW, operating profit of 46 billion KRW, and net profit of 37.3 billion KRW last year, and the upward trend in performance continues in the first quarter of this year. In particular, last year’s operating profit margin was 44.8%, continuously demonstrating excellent operating profit margins, which is a superior level compared to the same industry.

Meetogen plans to actively strengthen its social casino and casual game business. Starting with the global launch of the new video slot game ‘Jackpot Frenzy Casino’ in the second half of this year, the slot game lineup will be sequentially expanded. In addition, it plans to expand the casual game business by releasing new casual games in new fields such as ‘match-3 puzzle games’ and ‘strategy simulation.’

Meanwhile, Meetogen’s expected public offering price is 21,000 to 27,000 KRW, with 3,199,200 DR shares to be offered, and the public offering amount is approximately 67.2 billion KRW based on the lower end of the price range. After demand forecasting until the 31st, the public offering price will be finalized, followed by public subscription on the 5th and 6th of next month, and it is scheduled to be listed on the KOSDAQ market on August 18.

This content was produced with the assistance of AI translation services.