DLA Piper represented Penn National Gaming, Inc. (NYSE: PENN), an operator of gaming and racing facilities based in Wyomissing, Pennsylvania, in its acquisition of Rocket Games, Inc., a leading developer of social casino games based in San Francisco, California.
Rocket Games was founded in 2013 and develops online, social and mobile games for social gaming platforms. Rocket Games was acquired for approximately US$60 million cash, subject to working capital and other adjustments, and potential earn-out payments over the next two years subject to a cap of US$110 million. The acquisition aligns with Penn National Gaming’s strategy to acquire emerging growth platforms and expand its business to the social gaming world. Following the transaction, Rocket Games will remain headquartered in San Francisco and its existing management team will continue to run its day-to-day operations.
The legal team at Penn National Gaming was led by Carl Sottosanti, executive vice president and general counsel, and Chris Rogers, vice president and deputy general counsel.
The DLA Piper team representing Penn National Gaming was led by partners Louis Lehot and Matt Oshinsky, and also included partners Bill Hoffman, Jeffrey Aronson, Andrew Valentine and Angela Castro (Silicon Valley); Gina Durham and Mark Boxer (San Francisco); and Paolo Morante (New York); of counsel Cathryn Le Regulski (Northern Virginia); and associates Spencer Markel, Elena Nrtina, SeoJung Park, Janet Dudley, Lily Zheng and Blake Jackson (Silicon Valley); Kate Lucente (Seattle); Joanna Sykes-Saavedra (New Jersey); Brian Joe (Dallas); and Kerry O’Neill (New York).
DLA Piper's global technology sector lawyers work across practice areas and offices to support technology clients at every stage of growth, from startups to fast growing and mid-market businesses to mature global enterprises. Last year, according to mergermarket’s league tables for legal advisors, DLA Piper again earned the No. 1 ranking globally for overall deal volume.