DoubleDown restructures, taps DoubleU for game development

DoubleDown Interactive (NASDAQ:DDI) announced today that it has terminated a previous game development agreement with its wholly-owned U.S. subsidiary, DoubleDown Interactive LLC.

As part of an internal group reorganization, the company has entered into a new agreement with its controlling shareholder, DoubleU Games.

Under the new agreement, DoubleU Games will develop social casino game software and titles for DoubleDown Interactive.

In return, DoubleDown Interactive will pay development fees to DoubleU Games that cover the costs of development plus a percentage of those costs.

The initial term of the new agreement is three years, with the option for early termination or renewal.

The termination of the previous agreement and the establishment of the new one are part of a broader reorganization process.

As part of this process, a game development team previously within DoubleDown Interactive, known as Olive Studio, was transferred to DoubleU Games in September 2024.

Meanwhile, the transactions were reviewed and approved by the Audit Committee and the board of directors of DoubleDown Interactive.