“They have very loyal users – over 1.5 million are daily users, and 90% of them are on subscriptions. They have a very stable business, and their valuation is close to half a billion euros,” adds Petrov. The strategy of the founders of 52 Entertainment also includes a sale in two to three years.
Radostin Petrov’s ambitions in this sector do not end with the sale of Casualino, as his plans are far more ambitious. The Bulgarian team is completing two serious projects, which, according to the current majority shareholder, will make Casualino even more visible. The developers will also work with 52 Entertainment to create a VR sailing simulation, Virtual Regatta, to make the experience even more real.
But the project that is closest to Petrov’s heart is the creation of his own accelerator for gaming projects in Varna. “I am considering using one of my buildings in Varna for such a center to attract as many companies from this segment as possible. I want the city to develop as a center of this industry,” he says. Among his other creative plans is to follow his passion for coffee, with the idea of becoming a spokesperson for a Colombian coffee brand.
The previous biggest deal
The biggest deal so far in the Bulgarian gaming industry was the sale of “Imperia Online” in 2018. The company created in 2005 by Moni Dochev and Dobroslav Dimitrov is behind the multiplayer strategy game (MMO) of the same name. In 2018, the company joined the Swedish Stillfront Group. The deal was for 100% of the shares of “Imperia Online”. The buyer initially paid 10 million euros – 5 million in cash and 5 million in the form of 270,000 newly issued shares. It was then announced that the total sale price could reach 27.5 million euros, if in the following three years, including 2021, the company reaches certain operating profit indicators. The company is not saying whether those goals have been met. At the moment, over 80 people work for “Imperia Online”, and the revenues for 2021 are BGN 21.5 million with a profit of BGN 2.59 million.