Big Fish’s parent company Aristocrat has continued to back out of the casual mobile game business following a strategic review, restructure and reassessment of its assets.
Aristocrat effectively devalued Big Fish by $115m in its latest financials by reporting the sizeable impairment charge on its casual gaming unit.
“Following the completion of a strategic review in February 2025, there have been operational changes to the Big Fish cash-generating unit,” said Aristocrat. “Going forward, Big Fish will be solely focused on the operation of its evergreen titles, with no new game development and significantly reduced investment in the Big Fish portfolio.”
“The [$115m] impairment in Big Fish reflects a reassessment of the expected financial performance following the completion of the strategic review and the restructuring of its operations.”
Leading Big Fish titles EverMerge and Gummy Drop each declined in revenue year-on-year, the report states, while Product Madness’ top earning social casino games Lightning Link, Cashman Casino and Heart of Vegas each grew year-on-year.
Following the completion of a strategic review that saw Plarium sold off to MTG for $620m, Big Fish was rolled into social casino label Product Madness back in February.
Aristocrat stated at the time that Big Fish would halt new game development and operate with significantly reduced investment as it focused on running its evergreen titles at maximum efficiency.
Aristocrat’s retreat from the casual and midcore games business began in May 2024, when the Australian firm effectively put Plarium and Big Fish up for sale. Only Plarium found a buyer, with MTG stepping in to buy the Raid: Shadow Legends maker for $620m.
