NetEnt Acquires Red Tiger Gaming for GBP 200 Million
NetEnt, the giant online casino game provider, has acquired another successful vendor, Red Tiger. This week, the parties have agreed on an all-cash deal of GBP 200 million. Furthermore, the deal contains a possible addition of up to GBP 23 million regarding the earn-out basis, for 2022.
Since 2014 Red Tiger Gaming Limited has been contributing the online casino world with innumerable games, such as Lucky Mr Green, Fortune House, and more. In addition to its one-of-a-kind portfolio, it has made an indelible impression with its cutting-edge innovations. As a result, Red Tiger’s roar has been echoed in the industry for years.
Throughout the last five years, Red Tiger had been growing significantly. Hence, it expanded its range by opening new franchises in three countries, which are Bulgaria, Malta, and the Isle of Man. Moreover, it has approximately 170 employees in those places, which is a huge number for a five-year-old company.
NetEnt, on the other side of the deal, is one of the biggest suppliers, in terms of casino games. Also, it is one of the most experienced providers in the market. Since 1996, NetEnt has been dominating the market by producing first-class games with perfect mechanics. For instance, we recently heard of its name for incredible Butterfly Staxx 2 and Dead or Alive 2.
As a premium iGaming brand, NetEnt has seven offices all around the globe, including New Jersey, Gibraltar, Stockholm, and Malta. Furthermore, with its approximately 1000 employees, NetEnt does everything at its best.
After witnessing the unignorable success of Red Tiger, NetEnt made a brave offer and increased its investment in the industry. Recently, the company has been making special investments in global brands, especially in customer reach and regulated markets. However, with this purchasing, it obtained a big opportunity to grow its business all around the world.
What did the parties say after this acquisition?
This sensational acquisition has made a big splash in the industry and became the most popular subject. However, authorities from both parties have made a few statements afterwards.
Therese Hillman, who is the Group CEO of NetEnt, said that this acquisition combines the best and most innovative companies in the industry. Also, they believe that this collaboration will bring both of the companies additional values. Most importantly, they expect a significant revenue synergy all across their worldwide markets.
On the other hand, the CEO of Red Tiger, Gavin Hamilton, has said that this agreement is another stage in the company’s story. Also, he said that having access to NetEnt’s unique distribution network and geographic footprint will bring new opportunities for the vendor. However, he also stated that they look forward to creating new contents to amaze their fans.
Category: Gambling industry