Big Fish Games acquired by gambling firm

Social games publisher Big Fish Games has been acquired for $485m by US company Churchill Downs.

The Kentucky-based firm deals in horse-racing and casinos, with its acquisition of Big Fish expected to be complete by the end of the year.

In addition to the $485m, Churchill Downs is expected to pay $350m in earnouts for the company, plus a potential $50m for CEO Paul Thelen based on Big Fish’s 2016 bookings, according to GamesIndustry.

In a statement, Thelen said: "We are extremely proud of the company we have built over the last twelve years. Churchill Downs is a company with a commitment to interactive entertainment and a track record of growth and performance.

"We believe Big Fish is now positions to become an ever greater force in the casual, mid-core and social casino mobile and online games industry. Churchill Downs is a great cultural fit for us and we are thrilled to be joining the Churchill Downs family."