NetEnt Agrees to Acquire the Red Tiger Gaming at 220 Million Euros

By 22 October 2020

NetEnt is a top-notch digital entertainment company that is known for providing the global most successful casino operators with premium gaming solutions. This leading company, which was incepted more than two decades ago, has proven to be a true pioneer in driving the gaming industry with super thrilling games with a cutting-edge platform. If you live in Canada, consider visiting http://www.topnetent-casinos.net for more insight. NetEnt is committed to helping its enthusiasts and clients to be at a competitive advantage. This company is committed to strengthening competitiveness while at the same time, increasing its efficiency. At the moment, NetEnt game provider:

  • Is among the top companies listed on the NASDAQ Stockholm
  • Employs over 1,000 people in New Jersey, Kracow, Kiev, Gibraltar, Gothenburg, Stockholm, and Malta.

On 5th September 2019, NetEnt agreed to its first acquisition as a game developer. The deal was to take control of the Red Tiger Gaming at a cost of 220 million Euros. NetEnt's all-cash deal acquisition of this slot specialist involved an initial enterprise value of 197 million Euros, with another 23 million Euros payable in 2022. Speaking at the point of acquisition, Therese Hillman, the CEO of NetEnt said that he was pleased to welcome the Red Tiger into the NetEnt group. Visit eliteimagefitnessgear to gain insight into the gaming protective gears.

This acquisition primarily combines two leading online gaming companies. The CEO further noted that they would be pleased to work closely with the fantastic team of Red Tiger with the aim of leveraging their global reach and to be able to offer more value to players and operators. The transaction is most likely to provide ideal revenue synergies across NetEnt's markets worldwide. Red Tiger, which was established in 2014, is seen to be a game-changer in the casino gaming industry. despite being relatively young, it has risen to be the leading supplier of gaming software and casino games. Red Tiger:

  1. Has approximately 170 employees in Bulgaria, Malta, and the Isle of Man
  2. Is renowned for the daily Jackpot games

The deal between NetEnt and Red Tiger is in line with the former's vision to dominate the future of gaming. NetEnt has, over the past several years, invested heavily in global infrastructure, paying close attention to the regulated markets in addition to customer reach. The acquisition of Red Tiger will most likely enable NetEnt to capitalize on its scalable technology which, in essence, will support its future growth. In his acceptance speech, Gavin Hamilton, the CEO of Red Tiger, announced that the acquisition was an exciting stage of the Red Tiger story as they were delighted to become part of the NetEnt group.

Hamilton further noted that their access to NetEnt's geographic footprint as well as its unparalleled distribution network would go a long way in unlocking new opportunities for Red Tiger thereby accelerating their growth. He reassured that Red Tiger would remain focused on driving further innovation as they anticipate working with NetEnt on the best way to leverage their combined capabilities to create new products that are appealing to their clients. Subject to the acquisition, NetEnt revealed that it would incur approximately SEK55 million in the transaction and other finance-related costs. NetEnt is financing the deal through new debt facilities provided by Nordea and Danske Bank.