Stockholm-listed online casino provider NetEnt has agreed its first ever acquisition. The leading iGaming company has obtained slot specialist Red Tiger Gaming for a little over €240 million (£220m).
This is an all-cash deal. NetEnt has taken control of the firm for an initial enterprise value of approx. £197m, whilst it will pay an earn-out of up to £23m by 2022.
Tehrese Hillman, NetEnt chief executive, declared that she was extremely delighted to welcome Red Tiger into the NetEnt Group. “The acquisition combines two of the leading and most innovative companies in the online gaming industry.”
Looking forward to working with Red Tiger’s incredible ream to “enhance [their] combined global reach and to offer further value to operators and players”, NetEnt rep stated that the transaction would result in a “significant revenue synergies” across global NetEnt regulated markets.
Established in 2014, Red Tiger Gaming is an online casino supplying company headquartered in Gzira, Malta. Soon after its foundation, the firm established itself as a leader among slot providers. It has cemented its reputation with high RTP titles such as
Red Tiger takes special pride in its original Daily Jackpots feature. It has repeatedly proven a massive hit with clients. Right now, the company boasts around 170 employees, with operations across Europe – Malta, the Isle of Man and Bulgaria.
Gavin Hamilton, Red Tiger chief executive, said that this was “an exciting new stage” for the firm. They at the headquarters delight at becoming part of the successful gaming group.
“Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth.”
On the other hand, as for Red Tiger’s plans, its mission remained the focus on “driving further innovation”. Working with NetEnt will “leverage [their] combined capabilities to create new products that wow [their] customers,” Hamilton added.
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