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NetEnt has announced plans to acquire online slot provider Red Tiger Gaming Limited (“Red Tiger”) in a deal with an initial purchase price estimated at £200 million, with the possibility of an additional £23 million to be added in 2022 depending on Red Tiger’s future financial performance.
NetEnt was founded in 1996. Today it’s without a doubt the leader in the gaming industry, serving the world’s best online casinos with impressive games.
They have headquarters in Malta, Stockholm, Kiev, Gibraltar, New Jersey, Krakow and Gothenburg, with over 1,000 employees. The company is listed on the NASDAQ Stockholm exchange and are steadily growing every day. Players value Netent games for different reasons. Mostly because they have released more than 200 Games, most of which have amazing graphics and sounds – with licensed branded titles such as The Invisible Man
and most recently Planet of The Apes
. Some of their latest released slots include The WishMaster
, Grand Spinn Superpot
, Mercy of the Gods
and many more which you can find the reviews on CasinoRange NetEnt section.
Red Tiger Gaming
On the other hand, Red Tiger Gaming is a smaller company founded in 2014. They managed to grow to a well-known slot’s provider over the last few years. Their operations are based in Malta, Isle of Man and Bulgaria, with about 170 employees. They have been expanding for the last few years, expecting to net over £18 million in earnings before interest, taxes, depreciation and amortization (EBITDA) for the year 2019.
The Acquisition
Red Tiger Gaming has been valued at around £223 million in total. The initial purchase consideration is set at £197 million with an additional £23 million to follow up in 2022 on an earn-out basis. It will be very interesting to see how the expected synergies will pan out over the next two years and how this acquisition will benefit NetEnt and its loyal customer base. So far, it’s unknown if the Red Tiger Gaming slots will be rebranded with the NetEnt logo or will they continue to operate as a separate company.
What the officials say
NetEnt’s Chief Executive, Therese Hilman, has commented on the deal and the expected synergies, stating: “I am very pleased to welcome Red Tiger into the NetEnt Group, the acquisition combines two of the leading and most innovative companies in the online gaming industry.” At the same time, Red Tiger’s chief executive also expressed: “This is an exciting new stage of the Red Tiger story, and we are delighted to become part of the NetEnt group. Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth.”
All that remains is to see how the acquisition will go and what novelties we can expect from the two companies in the near future.
Source: Latest News on European Gaming Media Network
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