Case Study

Established in 2012 by an international team of industry veterans, Bagelcode has since become a leading publisher of mobile casino games. With studios in Seoul, London, Tel Aviv, and Dnipro, Bagelcode’s games are played by over 400 million users across 200 countries daily.

Recently, Bagelcode launched Club Vegas Slots 2020, which allows users to experience the excitement of Las Vegas casinos on their mobile devices. After partnering with Tapjoy in 2019, Bagelcode set its sights on boosting user acquisition and ROAS. In 2020, the studio launched new campaigns to achieve these goals.


After launching its new campaigns in early 2020, Bagelcode worked closely with Tapjoy to optimize campaign performance. Tapjoy’s mobile strategists suggested prioritizing strategic geographic targets and adjusting bids to attract quality users on a grander scale. Bagelcode then switched to multi-reward CPE campaigns on Tapjoy’s recommendation. The new model was a better match for the deep, in-game engagements that Bagelcode wished to target. Multi-Reward allowed them to foster deeper engagement and long-term retention while eliminating the need to manage multiple campaigns.


With Tapjoy’s support, Bagelcode was able to achieve its weekly and monthly KPIs, seeing even more success after switching to Multi-Reward CPE campaigns. Tapjoy’s built-in network of nearly one billion monthly active users proved to be especially valuable, helping the studio acquire high-LTV users from around the world. These users proved their quality early, driving a 3.25X increase in in-app revenue compared to single-event CPE. In total, day-30 ROAS increased by 25% thanks to the switch to Multi-Reward CPE.


In-app purchase revenue


Increase in D30 ROAs

“Tapjoy has been an invaluable part of our success. Thanks to Tapjoy’s suggestions, we were able to optimize our campaigns and ensure a high ROAS.”

- Sooyeun Jeun, UA Manager, Bagelcode

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