Exhibit 99.2

DoubleDown Interactive Co., Ltd.
Condensed Consolidated Interim Financial Statements (Unaudited)
As of and for the three months ended March 31, 2026 and 2025
Contents
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F-3
F-4
F-5
F-6
F-1

DoubleDown Interactive Co., Ltd.
Consolidated Interim Statements of Financial Position
(in thousands of U.S. dollars)
March 31,December 31,
Notes20262025
(unaudited)
Assets
Cash and cash equivalents3$432,846 $388,891 
Short-term investments3100,565 101,142 
Accounts receivable, net328,194 32,017 
Prepaid expenses and other assets3,362 5,523 
Total current assets$564,967 $527,573 
Property and equipment, net1,024 1,084 
Right-of-use assets, net5,144,994 4,273 
Intangible assets, net476,702 79,866 
Goodwill4425,563 426,659 
Deferred tax asset— 180 
Other non-current assets3,71,021 906 
Total non-current assets$509,304 $512,968 
Total assets$1,074,271 $1,040,541 
Liabilities and equity
Accounts payable and accrued expenses3,14$23,411 $24,564 
Current lease liabilities3,5,141,962 1,444 
Income taxes payable7,713 3,674 
Contract liabilities1,494 1,861 
Current portion of borrowings with related party
3,6,14
33,038 34,846 
Other current liabilities1,314 1,760 
Total current liabilities$68,932 $68,149 
Long-term borrowings with related party3,6,14— — 
Non-current lease liabilities3,5,143,655 3,309 
Deferred tax liabilities19,945 17,360 
Other non-current liabilities1,364 1,338 
Total non-current liabilities$24,964 $22,007 
Total liabilities$93,896 $90,156 
Equity
Share capital921,198 21,198 
Share premium9359,280 359,280 
Accumulated comprehensive loss(10,316)(4,904)
Retained earnings610,009 574,623 
Equity attributable to DoubleDown Interactive Co., Ltd.$980,171 $950,197 
Equity attributable to non-controlling interests204 188 
Total equity$980,375 $950,385 
Total liabilities and equity$1,074,271 $1,040,541 


See accompanying notes to the condensed consolidated interim financial statements.
F-2

DoubleDown Interactive Co., Ltd.
Consolidated Interim Statements of Comprehensive Income
(Unaudited, in thousands of U.S. dollars, except per share amounts)

Three months ended March 31,
Notes20262025
Revenue10,15$94,122 $83,492 
Operating expenses:
Cost of revenue 11,14(24,411)(24,125)
Sales and marketing 11(17,407)(14,138)
Research and development 11(3,716)(2,492)
General and administrative 11(13,074)(13,097)
Other income34 40 
Other expense(142)(49)
Total operating expenses(58,716)(53,861)
Operating profit$35,406 $29,631 
Finance income9,677 4,612 
Finance cost(607)(1,465)
Profit before income tax$44,476 $32,778 
Income tax expense8(9,074)(8,866)
Profit for the interim period$35,402 $23,912 
Other comprehensive income (loss):
Pension adjustments, net of tax189 65 
Gain (loss) on foreign currency translation(5,601)1,470 
Total comprehensive income for the interim period$29,990 $25,447 
Profit attributable to:
DoubleDown Interactive Co., Ltd.35,386 23,846 
Non-controlling interests16 66 
Total comprehensive income attributable to:
DoubleDown Interactive Co., Ltd.29,974 25,381 
Non-controlling interests16 66 
Earnings per share:12
Basic$14.28 $9.62 
Diluted$14.28 $9.62 


See accompanying notes to the condensed consolidated interim financial statements.
F-3

DoubleDown Interactive Co., Ltd.
Consolidated Interim Statements of Changes in Equity
(in thousands of U.S. dollars)
Attributable to DoubleDown Interactive Co., Ltd
NotesShare
capital		Share
premium		Accumulated
other
comprehensive
income (loss)		Retained
earnings		Sub-totalNon -
controlling interests		Total
equity
As of January 1, 2025
9
$21,198 $359,280 $(10,688)$472,125 $841,915 $118 $842,033 
Comprehensive income (loss) for the interim period
Profit for the interim period
— — — 23,846 23,846 66 23,912 
Other comprehensive income (loss)— — 1,535 — 1,535 — 1,535 
 Sub-total of comprehensive income (loss) for the year $— $— $1,535 $23,846 $25,381 $66 $25,447 
As of March 31, 2025 (unaudited)
9
$21,198 $359,280 $(9,153)$495,971 $867,296 $184 $867,480 
Transaction with owners, recognized directly in equity
As of January 1, 2026
9
$21,198 $359,280 $(4,904)$574,623 $950,197 $188 $950,385 
Comprehensive income (loss) for the interim period
Profit for the interim period
— — — 35,386 35,386 16 35,402 
Other comprehensive income (loss)— — (5,412)— (5,412)— (5,412)
Sub-total of comprehensive income (loss) for the interim period
$— $— $(5,412)$35,386 $29,974 $16 $29,990 
As of March 31, 2026 (unaudited)
9
$21,198 $359,280 $(10,316)$610,009 $980,171 $204 $980,375 

See accompanying notes to the condensed consolidated interim financial statements.
F-4

DoubleDown Interactive Co., Ltd.
Consolidated Interim Statements of Cash Flows
(Unaudited, in thousands of U.S. dollars)
Three months ended March 31,
Notes20262025
Cash flows from operating activities
Profit for the interim period
$35,402 $23,912 
Adjustments to reconcile profit to net cash from operating activities:
Depreciation and amortization
4,5,11,15
2,706 1,112 
Unrealized gain on foreign currency
3
(2,851)(207)
Unrealized loss on foreign currency
3
32 336 
Gain on foreign currency transaction
3
(242)— 
Gain on valuation of financial assets and liabilities
3
(680)(290)
Loss on valuation of financial assets and liabilities
3
— 11 
Interest income
3
(4,220)(3,806)
Interest expense
3
476 449 
Miscellaneous expense
92 — 
Provision for severance benefits
7
103 108 
Other long-term employee benefits
99 289 
Income tax expense
9,074 8,866 
Working capital adjustments:
Accounts receivable, net
3,784 1,383 
Prepaid expenses, and other assets
317 518 
Other non-current assets
50 53 
Accounts payable and accrued expenses
(1,451)3,369 
Contract liabilities
(367)(341)
Other current and non-current liabilities
(484)(19)
Cash generated from operations$41,840 $35,743 
Interest received4,902 6,180 
Interest paid(82)(61)
Income taxes paid(266)(742)
Net cash inflow from operating activities $46,394 $41,120 
Cash flows from investing activities
Purchase of property and equipment
(36)(120)
Disposal of financial assets at fair value through profit or loss
44 — 
Purchase of short-term investments(90,840)(141,081)
Disposal of short-term investment89,823 131,221 
Net cash (outflow) from investing activities $(1,009)$(9,980)
Cash flows from financing activities
Repayment of lease liabilities
(431)(207)
Payment of dividends
$— $— 
Net cash (outflow) from financing activities $(431)$(207)
Net increase in cash and cash equivalents
$44,954 $30,933 
Effect of exchange rate changes on cash and cash equivalents$(999)$(119)
Cash and cash equivalents at beginning of the interim period
$388,891 $334,850 
Cash and cash equivalents at end of the interim period
$432,846 $365,664 
See accompanying notes to the condensed consolidated interim financial statements.
F-5

DoubleDown Interactive Co., Ltd.
Notes to the Condensed Consolidated Interim Financial Statements (unaudited)
1.    General information
Background and nature of operations
DoubleDown Interactive Co., Ltd. (“DDI,” “we,” “us,” “Parent Company,” “our” or “the Company,” formerly known as The8Games Co., Ltd.) was incorporated in 2008 in Seoul, Korea as an interactive entertainment studio, focused on the development and publishing of casual games and mobile applications. DDI is a subsidiary of DoubleU Games Co., Ltd. (“DUG” or “DoubleU Games”), a Korean company and our controlling shareholder holding 67.1% of our outstanding shares. In 2017, DDI acquired DoubleDown Interactive LLC (“DDI-US”) from International Gaming Technologies (“IGT”) for approximately $825 million. DDI-US is our primary revenue-generating company. In October 2023, the Company acquired an iGaming operator, SuprNation AB (together with its subsidiaries, “SuprNation”), which is now a direct, wholly-owned subsidiary of DDI-US. The acquisition diversifies the digital games categories that the Company addresses with the addition of four real-money iGaming sites in Europe. In July 2025, the Company acquired WHOW Games GmbH, a social casino developer headquartered in Hamburg, Germany (“WHOW Games”), which is now a direct, wholly-owned subsidiary of DDI-US. In September 2025, DDI-US completed the conversion from a Washington limited liability company to a Nevada limited liability company.
We develop and publish digital gaming contents on various mobile and web platforms through our multi-format interactive all-in-one game experience concept. We host DoubleDown Casino, DoubleDown Classic, and DoubleDown Fort Knox within various formats, SuprNation’s four brands, Duelz, VoodooDreams, NYSpins and Los Vegas on web platforms, and WHOW Games’ proprietary brands, mainly MyJackpot and Lounge777, and licensed brand, mainly Merkur24, on both web and mobile platforms.
On September 2, 2021, we completed our initial public offering (“IPO”) of American Depositary Shares (“ADSs”), each representing 0.05 share of a common share, with par value of ₩10,000 per share, of the Company. Our ADSs trade on the NASDAQ Stock Market (“NASDAQ”) under the symbol “DDI.”
2.    Basis of preparation and material accounting policies
Basis of preparation
The accompanying condensed consolidated interim financial statements are presented in conformity with IAS 34, Interim Financial Reporting, as issued by International Accounting Standard Board (“IASB”), and include the accounts of DDI and its controlled subsidiaries. All intercompany transactions, balances, and unrealized gains or losses have been eliminated. Our unaudited condensed consolidated interim financial statements include all adjustments of a normal, recurring nature necessary for the fair statement of the results for the interim periods presented. The results for the interim period presented are not necessarily indicative of those for the full year. The condensed consolidated interim financial statements should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2025.
Use of estimates
The preparation of financial statements in conformity with IFRS requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures. We base our estimates and assumptions on current facts, historical experience, and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and the actual results, future operating results may be affected.
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The significant accounting estimates and assumptions used in the preparation of these condensed consolidated interim financial statements are consistent with those applied in the preparation of the annual consolidated financial statements for the year ended December 31, 2025, except for the estimation method used in determining income tax expense.
The income tax expense for the interim period is calculated by applying the estimated average annual effective tax rate to the profit before tax for the period.
Accounting policies
The accounting policies applied in the preparation of these condensed consolidated interim financial statements are consistent with those applied in the preparation of the consolidated financial statements as of and for the year ended December 31, 2025, except for the adoption of new standards or interpretations effective from January 1, 2026.
New standards and interpretations adopted during the interim period
Amendments to IFRS 7 Financial Instruments: Disclosures and IFRS 9 Financial Instruments - Classification and Measurement of Financial Instruments
The amendments to IFRS 7 and IFRS 9 clarify the classification and measurement of financial assets, including the assessment of the solely payments of principal and interest criterion for financial assets with ESG-linked features. The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier adoption permitted. The Company has applied the amendments retrospectively to the earliest comparative period presented. The adoption of these amendments does not have a material impact on the Company’s condensed consolidated interim financial statements.
3.    Financial instruments
3.1.    Financial assets
Financial assets by category as of March 31, 2026 and December 31, 2025 are as follows (in thousands):
March 31, 2026
Financial assets at fair value through profit or loss
Financial assets measured at amortized cost
Current assets
Cash and cash equivalents$—$432,846
Short-term investments—100,565
Accounts receivable, net—28,194
Total$—$561,605
Non-current assets
Financial assets at fair value through profit or loss434—
Total$434$—
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December 31, 2025
Financial assets at fair value through profit or lossFinancial assets measured at amortized cost
Current assets
Cash and cash equivalents$—$388,891
Short-term investments—101,142
Accounts receivable, net—32,017
Accrued income—948
Financial assets at fair value through profit or loss45—
Total$45$522,998
Non-current assets
Financial assets at fair value through profit or loss437—
Total$437$—
3.2.    Financial liabilities
Financial liabilities by category as of March 31, 2026 and December 31, 2025 are as follows (in thousands):
March 31, 2026
Financial liabilities at fair value through profit or loss
Financial liabilities measured
 at amortized cost
Current liabilities
Accounts payable$—$4,804
Accrued expenses (1)
—16,443
Current lease liabilities—1,962
Current portion of borrowings with related party
—33,038
Total$—$56,247
Non-current liabilities
Non-current lease liabilities—3,655
Total$—$3,655

(1)Exclude payroll liabilities that should be paid to employees such as annual leave allowance.
December 31, 2025
Financial liabilities at fair value through profit or loss
Financial liabilities measured
 at amortized cost
Current liabilities
Accounts payable
$
— 
$
17,080 
Accrued expenses (1)
— 
4,583 
Current lease liabilities
— 
1,444 
Current portion of borrowings with related party
— 
34,846
Total
$
— 
$
57,953 
Non-current liabilities
Non-current lease liabilities
— 
3,309 
Long-term borrowings with related party
— 
— 
Total
$
— 
$
3,309 
(1)Exclude payroll liabilities that should be paid to employees such as annual leave allowance.
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3.3.    Fair value hierarchy
Fair value hierarchy classifications of the financial assets that are measured at fair value disclosed in fair value as of March 31, 2026 and December 31, 2025 are as follows (in thousands):
March 31, 2026
Level 1Level 2Level 3Total
Financial assets and liabilities at fair value through profit or loss
Financial assets$— $— $434 $434 
December 31, 2025
Level 1Level 2Level 3Total
Financial assets and liabilities at fair value through profit or loss
Financial assets$— $45 $437 $482 
3.4.    Valuation techniques and the inputs
The valuation techniques and inputs used for fair value measurements and disclosed fair values categorized within Level 2 and Level 3 of the fair value hierarchy as of March 31, 2026 and December 31, 2025 are as follows (in thousands):
March 31, 2026December 31, 2025LevelValuation techniques
Capital contribution to cooperatives$434 $437 3Market-based fair value approach
Derivative instruments (Money Market Trust)$— $45 2
Discounted Cash Flow Method

3.5.    Net gains or losses by category of financial instruments
Net gains or losses by category of financial instruments for the three months ended March 31, 2026 and 2025 are as follows (in thousands):
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Three months ended March 31,
(in thousands)20262025
Financial assets at fair value through profit or loss
Gain on valuation of financial assets
$20$290
Unrealized gain on foreign currency——
    Loss on valuation of financial assets——
Gains (losses) on disposal660—
Sub-total$680$290
Financial assets at amortized cost
Interest income4,2203,806
Gain on foreign currency transactions
1,923309
Unrealized gain on foreign currency2,851207
Loss on foreign currency transactions
(99)(31)
Unrealized loss on foreign currency(32)(336)
Sub-total$8,863$3,955
Total$9,543$4,245
Financial liabilities at fair value through profit or loss
Loss on valuation of financial liabilities
$—$(11)
Sub-total
$—$(11)
Financial liabilities at amortized cost
Interest expense(476)(449)
Gain on foreign currency transactions
2—
Unrealized gain on foreign currency——
Loss on foreign currency transactions
—(638)
Sub-total
$(474)$(1,087)
Total$(474)$(1,098)
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4.    Intangible assets and goodwill
Changes in the net book value of intangible assets for the three months ended March 31, 2026 and 2025 are as follows (in thousands):
March 31, 2026
GoodwillTrademarksCustomer
relationships		Purchased
technology		SoftwareGaming LicenseTotal
Balance at January 1, 2026$426,659$35,455$4,529$6,081$3,485$30,316$506,525
Amortization—(32)(615)(193)(275)(1,019)(2,134)
Translation differences(1,096)(9)(96)(141)(79)(705)(2,126)
Ending balance$425,563$35,414$3,818$5,747$3,131$28,592$502,265
March 31, 2025
GoodwillTrademarksCustomer
relationships		Purchased
technology		SoftwareGaming LicenseTotal
Balance at January 1, 2025$395,804$35,009$6,197$6,072$28$360$443,470
Amortization—(1)(553)(174)(3)(23)(754)
Translation differences596—230235—131,074
Ending balance$396,400$35,008$5,874$6,133$25$350$443,790
5.    Lease
5.1. Our leases primarily consist of real estate leases for office space and do not have any non-lease components. The leases typically run for a period of 2 ~10 years, with an option to renew or terminate the lease after that date. No restrictions or covenants are imposed on leases, but the lease assets shall not be provided as collateral for borrowings.
5.2.    Changes in right-of-use assets and lease liabilities:
Changes in right-of-use assets and lease liabilities for the three months ended March 31, 2026 and 2025 are as follows (in thousands):
Right-of-use assetsLease liabilities
Office
Balance at January 1, 2026$4,273$4,753
Acquisitions1,3171,452
Depreciation(490)—
Interest expense relating to lease liabilities—83
Payments of lease liabilities—(513)
Translation differences(106)(158)
Balance at March 31, 2026$4,994$5,617
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Right-of-use assetsLease liabilities
Office
Balance at January 1, 2025$4,308$4,673
Depreciation
(283)—
Interest expense relating to lease liabilities—61
Payments of lease liabilities—(269)
Translation differences2121
Balance at March 31, 2025$4,046$4,486
6.     Short-term and Long-term borrowings
The following table represents borrowings from DoubleU Games (in thousands):
Interest rateMaturityMarch 31, 2026December 31, 2025
Current portion of borrowings with related party (1)
4.60%May 27,
2026		$33,038$34,846

(1) DoubleU Games extended three loans to us on May 25, 2018, August 27, 2018, and November 26, 2018 (collectively, the “4.6% Senior Notes”), and the aggregate outstanding principal amount as of March 31, 2026 was $33.0 million. In May 2024, a voluntary interest payment of $9.6 million was made, and the maturity of each 4.6% Senior Note was extended by two years to May 27, 2026, including the remaining outstanding principal amount under the 4.60% Senior Notes.
7.    Retirement benefit plan
7.1 Defined benefit pension plan
We operate a defined benefit pension plan under employment regulations in Korea. The plan services the employees located in Seoul and is a final wage-based pension plan, which provides a specified amount of pension benefit based on length of service. The service cost components of the net periodic benefit costs are charged to current operations based on the employee’s functional area.
7.2 Details of defined benefit liabilities
The following table presents net defined benefit liabilities (defined benefit assets) (in thousands):
March 31, 2026December 31, 2025
Present value of defined benefit obligations$1,911$2,189
Fair value of plan assets(2,283)(2,440)
Net defined benefit liabilities (assets)$(372)$(251)
8.    Income taxes
The income tax expense for the interim period has been recognized based on management’s best estimate of the weighted average annual effective tax rate expected for the full fiscal year ending December 31, 2026. Separately, management estimates that the weighted average annual effective tax rate for the three months ended March 31, 2026 will be 20.4%, compared to 27.0% for the three months ended March 31, 2025.
9.    Shareholders’ equity
We have 200,000,000 total authorized shares with 2,477,672 common shares issued and outstanding at March 31, 2026 and 2025, and the par value per share is KRW10,000.
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9.1. Changes in share capital
The following table represents common shares, share capital and premium (in thousands, except shares):
Common sharesShare capitalShare premiumTotal
Balance at January 1, 20252,477,672$21,198$359,280$380,478
Balance at March 31, 20252,477,672$21,198$359,280$380,478
Balance at January 1, 20262,477,672$21,198$359,280$380,478
Balance at March 31, 20262,477,672$21,198$359,280$380,478
10.    Revenue from contract with customers
10.1 Disaggregation of revenue
The Company distinguishes between revenue recognized over time and revenue recognized at a point in time.
The table below presents revenue by service contract type, geographic market, and the timing of performance obligation satisfaction (in thousands):
Three months ended March 31,
20262025
Type of service (1)
Social casino game$76,946 $70,281 
Geographic market (1)
U.S.57,468 61,014 
International19,478 9,267 
Total$76,946 $70,281 
Timing of revenue recognition (1)
Over time76,805 70,203 
At a point in time141 78 
Total (1)
$76,946 $70,281 
(1)iGaming revenues are excluded and amounted to $17,176 thousand for the three months ended March 31, 2026 and $13,211 thousand for the three months ended March 31, 2025.
The following table disaggregates revenue between Third-Party Platforms and Direct-to-Consumers (in thousands):
Three months ended March 31,
20262025
Third-Party Platforms$42,968 $61,284 
Direct-to-Consumers (1)
33,978 8,997 
Total (2)
$76,946 $70,281 
(1)Direct-to-Consumer (“DTC”) revenue represents revenue from purchases made through Company-owned channels, including web storefront transactions and other direct payment flows.
(2)iGaming revenues are excluded and amounted to $17,176 thousand for the three months ended March 31, 2026 and $13,211 thousand for the three months ended March 31, 2025.

10.2 Contract assets, contract liabilities with customers
The following table summarizes our opening and closing balances in contract assets and contract liabilities (in thousands):
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March 31, 2026December 31, 2025
Contract assets (1)
$421 $518 
Contract liabilities (2)
1,494 1,861 
(1)Contract assets are included within prepaid expenses and other assets in our consolidated interim financial position.
(2)The amount of revenue recognized during the current year from the contract liabilities balance at the beginning of the reporting period is $1,861 thousand for the three months ended March 31, 2026 and $1,754 thousand for the three months ended March 31, 2025.
11.    Classification of operating expenses by nature
Details of classification of expenses by nature for the three months ended March 31, 2026 and 2025 are as follows (in thousands):
Three months ended March 31,
20262025
Personnel expenses$6,431 $7,928 
Depreciation and amortization2,216 829 
Depreciation of right-of-use assets490 283 
Taxes and dues3,939 3,899 
Fees and commissions28,471 27,700 
Advertising expenses15,100 12,540 
Other expenses1,961 673 
Total (1)
$58,608 $53,852 
(1)Represents the sum of cost of revenue, sales and marketing, research and development, and general and administrative expenses as included in the consolidated interim statement of comprehensive income.
12.    Earnings per share
12.1.    Basic earnings per share is computed by dividing earning by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. The following table presents the calculation of basic earnings per share (in thousands, except share and per share amounts):
Three months ended March 31,
20262025
Numerator:
Profit applicable to DoubleDown Interactive Co., Ltd.$35,386 $23,846 
Weighted average shares outstanding - basic2,477,672 2,477,672 
Basic earnings per share$14.28 $9.62 
12.2.    Diluted earnings per share is computed by dividing profit applicable to owners of the Company by the weighted-average number of common shares and dilutive common share equivalents outstanding for the period. The Company does not have dilutive potential ordinary shares outstanding. Accordingly, the diluted earnings per share for the three months ended March 31, 2026 and 2025 are the same as the basic earnings per share.
13.    Commitments and contingencies
13.1.    Publishing and license agreements
DoubleU Games
We entered into the DoubleU Games License Agreement on March 7, 2018 with DoubleU Games through DDI-US, pursuant to which DoubleU Games grants us, an exclusive license to develop and distribute certain DoubleU Games social
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casino game titles and sequels thereto in the social online game field of use. We are obligated to pay a royalty license fee to DoubleU Games in connection with these rights, with certain customary terms and conditions. As of March 31, 2026, we licensed from DUG approximately 77 game titles under the terms of this agreement.
In October 2023, we, through DDI-US, entered into a Game Development Services Agreement with DoubleU Games pursuant to which DDI-US will pay service fees to DoubleU Games for certain game maintenance services and product planning and user analysis services provided by DoubleU Games.
In October 2024, we, through DDI-US, entered into a Game Development Agreement with DoubleU Games, pursuant to which DoubleU Games would develop certain social casino game software and titles for us in exchange for development fees.
We, through SuprPlay Limited, also entered into a new game license agreement with DoubleU Games with effect from August 20, 2024. We are obligated to pay a royalty license fee to DoubleU Games in connection with these rights, with certain customary terms and conditions.
International Gaming Technologies (“IGT”)
In 2017, we entered into a Game Development, Distribution, and Services Agreement with IGT. Under the terms of the agreement, IGT will deliver game assets so that we can port (a process of converting the assets into functioning slot games by platform) the technology for inclusion in our gaming apps. The agreement includes game assets that are used to create new games. Under the agreement, we paid IGT an initial royalty rate of 10% of revenue for their proprietary assets and 15% of revenue for third-party game asset types. Effective January 1, 2019, we amended the agreement to revise the royalty rate for proprietary game asset types to 7.5% of revenue. The initial term of the agreement is ten (10) years with up to two additional five-year periods. Costs incurred in connection with this agreement for the three months ended March 31, 2026 and 2025 totaled $0.8 million and $0.8 million, respectively, and are recognized as a component of cost of revenue.
13.2.    Legal contingencies
As of the date of this report, in the United States, the Company has several pending lawsuits and arbitrations alleging that its social casino-themed games constitute illegal gambling under applicable state laws and seeking to recover amounts paid by the residents of the applicable state in connection with such games. The Company denies the allegations, and contends that its games are not gambling under the applicable law and that the cases suffer from various procedural defects. At this time, the Company is unable to reasonably predict the outcome of these legal proceedings and cannot estimate what impact, if any, the litigation may have on the Company’s condensed consolidated interim financial statements.
13.3.    Directors and Officers’ indemnification agreement
The Company’s maximum aggregate liability for all loss and expenses on account of any and all requests for indemnity under the Indemnification Agreement or any similar indemnity agreement with any other indemnitee will be $5,000,000 per every 12-month period.
13.4.    Other matters
IGT Letter
In March 2025, DDI-US received a letter from IGT (“IGT Letter”) purporting to terminate the Company’s licenses to develop and distribute IGT social casino game titles throughout the United States. The IGT Letter cited the January 2025 public memo issued by the Washington State Gambling Commission (“WSGC”), where the WSGC encouraged companies offering virtual casino-style games to Washington residents to review their games and ensure compliance with state gambling regulations. The Company responded to the IGT Letter in April 2025, disputing the termination, and has not received any subsequent response from IGT to date. While the outcome of this matter is currently uncertain, the Company
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believes that IGT has no basis to terminate the licenses and that the Company’s distribution of the licensed games is not prohibited under Washington State law.
SuprNation Performance Based Compensation
Contemporaneously with entering into the definitive agreement, the Company also adopted an eighteen-month performance-based incentive plan for certain key employees of SuprNation, under which the key employees may earn up to a total of $6.5 million in addition to $5.5 million held in escrow, which vest over the eighteen-month period. The performance-based incentive plan is contingent upon the achievement of certain revenue and other performance targets by the acquired business and the continued employment of such key employees between 2023 and 2025. Such plan became effective at the closing of the transaction. In August 2024, $4.2 million of the incentive plan was modified to be contingent solely upon continued employment. All of the compensation under the plan has been paid as of March 2026.
14.    Related party transactions
14.1.    Related party
Our related party transactions comprise of expenses for use of intellectual property, borrowings, and sublease. We may also incur other expenses with related parties in the ordinary course of business, which are included in the condensed consolidated interim financial statements. We have the following related parties during the three months ended March 31, 2026 and 2025:
RelationshipCompany name
Controlling shareholderDoubleU Games Co., Ltd
14.2.    Transactions with related party
The following is a summary of expenses charged by DoubleU Games (in thousands): 
Three months ended March 31,
20262025
Royalty expense$1,013$446
Other expense1,3841,793
14.3    Account balances with related party
Amounts due to DoubleU Games are as follows (in thousands):
March 31, 2026December 31, 2025
Accounts payable and accrued expenses$1,815 $1,571 
Other receivables6 6 
14.4.    Borrowing transactions with related party
Details of our borrowing transactions with DoubleU Games are as follows (in thousands):
March 31, 2026December 31, 2025
4.6% Senior notes with related party
$33,038 $34,846 
Accrued interest on 4.6% Senior Notes with related party
2,804 2,562 

Three months ended March 31,
20262025
Interest expense$387$390
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14.5.    Lease transactions with related party
Details of our lease with DoubleU Games are as follows (in thousands):
March 31, 2026December 31, 2025
Right-of-use assets$2,647 $1,682 
Lease liabilities2,837 1,797 
Three months ended March 31,
20262025
Payments$312$169
Interest expenses3025

15.    Segment information
15.1.    Segment reporting
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, our Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. Total assets and liabilities for each segment are not reported to our Chief Executive Officer. We operate in the following business segments: social casino games and iGaming (in thousands):
Three months ended March 31,
20262025
Revenue:
Social casino games$76,946 $70,281 
iGaming17,176 13,211 
Total Revenue$94,122 $83,492 
Advertising expenses:
Social casino games$9,134 $7,474 
iGaming5,966 5,066 
Total advertising expenses$15,100 $12,540 
Depreciation and amortization (including right-of-use assets):
Social casino games$1,806 $303 
iGaming900 809 
Total depreciation and amortization (including right-of-use assets)$2,706 $1,112 
Interest income:
Social casino games$4,220 $3,806 
iGaming— — 
Total interest income$4,220 $3,806 
Interest expense:
Social casino games$476 $447 
iGaming— 2 
Total interest expense$476 $449 
Profit before income tax:
Social casino games$44,724 $33,755 
iGaming(248)(977)
Total profit before income tax$44,476 $32,778 
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15.2.    Disaggregation of revenue and non-current assets
The Company’s business operations are located in domestic and international regions, including the United States. We believe disaggregation of our revenue based on platform and geographic location are appropriate categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.
The following table presents our revenue disaggregated based on the geographic location of our players (in thousands):
Three months ended March 31,
20262025
U.S.$57,468$61,014
Canada4,5224,550
United Kingdom16,64612,213
Germany8,101230
International-other7,3855,485
Total $94,122$83,492
The following table presents non-current assets by geographic regions (in thousands):
March 31, 2026December 31, 2025
Korea$3,148 $2,084 
U.S.418,685 416,102 
Europe87,03694,165
Total (1)
$508,869$512,351
(1) The amounts related to financial assets at fair value through profit or loss and deferred tax assets are excluded.
15.3.    Major external customers
No individual external customer accounted for more than 10% of consolidated revenue for each of the three months ended March 31, 2026 and 2025.

16. Acquisition
Business Combination – WHOW Games
On July 14, 2025, the Company completed its acquisition of WHOW Games GmbH (“WHOW Games”), a German casino game operator, which is now a direct, wholly-owned subsidiary of DDI-US, for a total cash purchase price of €55.0 million (or approximately $64.3 million). As a transaction separate from the business combination there is a deferred payment of up to €10.0 million (or approximately $6.5 million), relating to a performance-based incentive plan amount to be calculated based on the 24 months following the transaction close date, hereinafter referred to as “Performance-based incentive plan”. The total business combination transaction costs incurred by the Company in connection with the acquisition of WHOW Games, including professional fees, were $0.5 million.
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The following table summarizes the allocation of the purchase consideration to the acquisition-date fair value of the assets acquired and liabilities assumed (in thousands):
Ⅰ. Total purchase consideration$64,302 
Ⅱ. Identifiable Assets and liabilities, net
27,628 
Cash and cash equivalents2,714 
Accounts receivable4,409 
Prepaid expenses, and other assets164 
Intangible assets36,205 
Property and equipment255 
Right-of-use assets1,163 
Deferred tax assets188 
Other non-current assets193 
Accounts payable and other payables(3,930)
Income taxes payable(2,350)
Lease liabilities(1,232)
Other current liabilities(498)
Deferred tax liabilities(9,653)
Ⅲ. Goodwill (Ⅰ-Ⅱ)
$36,674 
The above allocation of the purchase price can be subject to change within the measurement period, but no later than one year from the date of the acquisition close.
The income approach was used to determine the fair value of game intellectual property, applying a weighted average cost of capital of 11% and a terminal growth rate of 1%. The useful lives of the intellectual property we acquired from WHOW Games range between 7.7 and 10.2 years. Goodwill represents the excess of the purchase price over the preliminary fair value of identifiable assets acquired and liabilities assumed at the acquisition date and is primarily attributable to the assembled workforce and expected synergies at the time of the acquisition. For tax purposes, no tax-deductible goodwill was generated as a result of this acquisition.
The Company’s consolidated statement of comprehensive income as of March 31, 2026 includes WHOW Games’ revenue of $9.9 million and pre-tax income of $1.4 million.

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