NetEnts new acquisition
October 22, 2019
NetEnt acquires Red Tiger Gaming
One of the biggest moves in igaming announced. NetEnt acquiring Red Tiger and add them to its portfolio. This came after NetEnt revealed that they have come to an agreement that satisfied both parties. In a cash-only deal, NetEnt needed to fork out over £200 Million in one go. However, that is not the final sum NetEnt need to pay. in fact, it all depends on how Red Tiger is preforming the coming years. Although, the final instalment can’t accumulate to more then £23 Million and need to reach Red Tiger before 2022 is over. So, all in all, NetEnt is looking at a potential bill of £223 Million to take full control of the leading casino supplier Red Tiger. That made a massive name for itself from its 2014 launch.
Five years of operation
Let’s think about it for a minute. It took Red Tiger five years to become a Multi-Million Pound Company. That attracted one of the industries finest, NetEnt. This from an industry veteran not known for its acquisitions. In fact, NetEnt has always prided itself on being innovative and ground-breaking, all by its own. However, if you see something that works and what you want, why try to develop it yourself when you can just open your wallet. And according to sources, it’s all in line with their global infrastructure plan. Which the acquisition of Red Tiger will help out with. More specifically, the company under NetEnt’s control will help them “to capitalize on its scalable technology to support future growth.” And the vision “create the future of gaming.” is very much alive.
Red Tiger and NetEnt will make dream work
As the old saying goes, if you can’t beat them, join them. And in this case, Red Tiger was holding all the Aces. Indeed, the game provider has gone from zero to hero within five years. And it didn’t take long for the public and operators to appreciate the games coming out. And especially after the innovator announced its plans of the “Daily Drop Jackpots.” The company itself has offices in Isle of Man, Malta, and Bulgaria, and employee around 170 people. What will happen to the current staff of Red tiger no one knows. Although redundancies are not to expect, in the end, NetEnt is not only buying a company, they are investing in talent. And words from Red Tigers CEO, Gavin Hamilton, are not saying any different. “We are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products.”