Dream Games

Dream Games

Mobile puzzle game studio, free-to-play

Overview

Dream Games creates free-to-play mobile puzzle games with a focus on long-lasting, high-quality experiences. The studio, based in Istanbul, gained prominence with Royal Match, a match-3 game where players solve puzzles to decorate a king’s castle, and later Royal Kingdom, expanding the same universe and mechanics. The games are monetized primarily through in-app purchases, while Royal Match notably avoids in-game ads to ensure uninterrupted gameplay. The company differentiates itself with polished visuals, engaging storytelling and decorating mechanics, a strong emphasis on user experience, and a team with deep Puzzle game expertise from Peak Games. The overarching goal is to captivate a global audience with compelling puzzle experiences, sustain player engagement, and grow a scalable, enduring mobile gaming IP through ongoing titles and potential expansions.

About Dream Games

Simplify's Rating
Why Dream Games is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Consumer Software

Entertainment

Gaming

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$1.7B

Headquarters

Istanbul, Türkiye

Founded

2019

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Simplify's Take

What believers are saying

  • Royal Kingdom hit $766.1 million lifetime spending by July 2026, accelerating Dream Games’ growth.
  • CVC’s $2.5 billion investment in May 2025 funded expansion and bought out early backers.
  • Dream Games still leads Turkish developers globally, reaching $1.7 billion revenue in 2025.

What critics are saying

  • Schudde v. Dream Games in Washington targets Royal Match for illegal gambling claims.
  • Dream Games added ads to Royal Kingdom in February 2026, breaking its no-ads brand.
  • Revenue concentration remains existential: Royal Match and Royal Kingdom generated over 80% of publisher revenue.

What makes Dream Games unique

  • Royal Match and Royal Kingdom dominate Turkish mobile revenue with polished, ad-light puzzle gameplay.
  • Dream Games uses Peak Games veterans and Istanbul engineering to ship globally scaled casual hits.
  • The studio’s sequel strategy compounds a single universe, preserving retention across two flagship titles.

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Funding

Total Funding

$1.7B

Above

Industry Average

Funded Over

6 Rounds

Notable Investors:
Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison
Coming Soon

Benefits

Wellness Program

Remote Work Options

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

-2%

2 year growth

-4%
GamesIndustry.biz
Jun 9th, 2026
Türkiye's domestic mobile revenue grew 6% to $347m in 2025.

Türkiye's domestic mobile revenue grew 6% to $347m in 2025. Turkish dveloper revenue increased by 450% over the past six years to $2.7 billion Published on June 9, 2026 Türkiye's mobile revenue rose 6% in 2025 to $347 million, its highest annual total to date. Over the past six years, Turkish developer revenue has grown by 450% to $2.7 billion. According to AppMagic's annual Turkish mobile report, produced with Gamigion, Türkiye's global market share rose from 1% to 5% alongside these revenue gains. Downloads declined by 4% year-on-year to 1.8 billion, which AppMagic identifies as a shift from volume to monetisation in the mobile market. The number of active developers in Türkiye increased by 18.6% in 2025, following a significant spike in 2022, when growth reached 105.5% year-on-year. Dream Games was the top Turkish developer globally by revenue in 2025, reaching $1.7 billion, followed by Peak Games ($619.7 million), and Rollic ($207 million). Dream Games and Peak Games generated over 80% of publisher revenue. Dream Games alone contributed 60% of this total through its two titles, Royal Match and Royal Kingdom, which have together earned more than $5.2 billion in in-app purchases. Puzzle games made up approximately 97% of Türkiye's mobile revenue. The top-grossing domestic titles were PUBG Mobile ($17.3 million), eFootball ($10.4 million), and Whiteout Survival ($10 million). Since 2009, Turkish developers have raised $3.6 billion in funding. Dream Games secured the largest investment in Turkish history in May, raising $2.5 billion in a round led by CVC Capital Partners. Excluding Dream Games, investments in 2025 totaled $234 million, 32 times higher than in 2020. This included Good Job Games raising $60 million, and Grand Games securing $30 million in January and an additional $70 million in May 2026. Loom Games reached a valuation of over $1 billion in less than 12 months before its acquisition by Scopely in February 2026. Leading domestic investors are the state-backed Türkiye Development Fund (163 investments), Boğaziçi Ventures (74), WePlay Ventures (24), Ludas Ventures (23, backing Spyke, Alpaka, and TaleMonster), and Laton Ventures (key backer of Grand Games).

IT桔子
Jul 29th, 2025
Dream Games receives HK$39M investment

Dream Games, a mobile game distribution service provider, announced a capital agreement with Playrix's PLR Worldwide Sales Limited. Playrix will subscribe to approximately 38.08 million shares of Dream Games at HK$1.024 per share, a 3.4% discount from the July 28 closing price of HK$1.06. The total investment amounts to HK$39 million. Upon completion, Playrix will hold approximately 2.11% of Dream Games' shares.

Steel Media Ltd
Jul 10th, 2025
Dream Games receives $2.5bn investment

In Q2 2025, the games industry saw $3 billion in disclosed M&A deal value. Krafton's $516 million acquisition of ADK was the largest of 46 deals. CVC invested $2.5 billion in Dream Games at a $5 billion valuation, marking a major VC exit. Other notable deals included Tencent's $80 million investment in Arrowhead and Wolves Esports Club raising $28 million. Public gaming stocks rebounded, with Square Enix, Roblox, and Konami as top performers. Take-Two proposed a $1 billion stock offering.

Global Legal Chronicle
May 14th, 2025
CVC Invests in Dream Games Deal

CVC, a global alternative asset management firm, has entered into transaction agreements involving Dream Games. Paksoy provided advisory services to CVC, while White & Case LLP advised Dream Games.

IntelliNews
May 3rd, 2025
Turkish unicorn Dream Games raises $2.5bn in private equity round at $5bn valuation

Dream Games raised around $2.5bn in equity and debt in a private equity funding round that valued the enterprise at $5bn, unnamed people familiar with the matter told Bloomberg on May 1.

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