NetEnt Has Acquired Casino Software Provider Red Tiger Gaming
NetEnt has announced it’s acquired casino software provider Red Tiger Gaming.
The popular online slot provider, responsible for games such as Dead Or Alive II and Gonzo’s Quest, announced the news this week, revealing that it has entered an agreement to acquire the up-and-coming slot provider Red Tiger Gaming.
According to NetEnt’s official announcement, the provider will pay £200 million plus a possible additional amount of £23 million in 2022. The transaction is expected to complete within the coming months and is thought to help grow NetEnt’s Earnings Per Share next year.
NetEnt states that the deal is in-line with its vision for the future of gaming as the firm has heavily invested in global infrastructure focusing on customer reach and regulated markets. Now, the acquisition of Red Tiger Gaming will help enhance the firm’s growth by reaching new players.
In a statement, NetEnt’s Group CEO Therese Hillman said: “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. We look forward to working with Red Tiger’s fantastic team to enhance our combined global reach and to offer further value to operators and players. The transaction will provide significant revenue synergies across our markets worldwide.”
Gavin Hamilton, the CEO of Red Tiger Gaming, added: “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. At Red Tiger, we’ll remain focused as always on driving further innovation and we are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products that wow our customers.”
Who Is Red Tiger Gaming?
Red Tiger Gaming was founded back in 2014 and has become one of the most popular online slot providers. The firm has been responsible for developing and releasing several well-known slots including Pirates’ Plenty The Sunken Treasure, Dragon’s Luck, Phoenix Fire Power Reels, Thor’s Lightning and many more.
Reports state that Red Tiger Gaming has around 170 employees with operations based in Malta, Bulgaria and the Isle of Man. It recently released its 100th slot Pirates’ Gold Battle For Gold and made headlines in August after announcing that its Daily Drop Jackpot Network had paid out over £2.5 million since it launched in April.
Meanwhile, Red Tiger made headlines for striking partnership with various online casino operators. In August, Red Tiger announced partnerships with MyCasino.ch, Jackpots.ch, Paf, Betfred and Aspire Global.
Under the deals, Red Tiger Gaming was offering the casino operators its complete catalogue of slots and jackpots. However, it’s currently unknown what will happen with the current partnerships following NetEnt’s acquisition.