In September 2019, renowned game developer NetEnt announced entering into an agreement to acquire game maker Red Tiger Gaming for GBP 200 million If the financial development goes well, an additional purchase price of GBP 23 million may be added. It will be paid out in 2022.
This is NetEnt and Red Tiger Gaming
Red Tiger is a gaming provider that is especially popular because of their jackpot games. Maybe you have come across the term “Daily Jackpots” at Swedish online casinos. These are jackpots that are guaranteed to drop out once a day. Several slots are linked to the daily jackpot, so you can win it while playing many games. Founded in 2014, Red Tiger has 170 employees in Malta, the Isle of Man and in Bulgaria. Operating income for 2019 is expected to £18 million, before taxes and deductions.
Here’s how Red Tiger relates to the acquisition:
“This is an exciting new stage of the Red Tiger story and we are delighted to be 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 will 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.”
You will always recognize games relating to these two companies, thanks to classic big favorites like Gonzo’s Quest and Starburst.
These are NetEnt’s words about the acquisition:
“This is a natural next step and an example of our commitment to the local market. The UK is already our largest market, and we see a short-term opportunity to grow our market share by being closer to our UK based customers. Our increased UK presence is one of the NetEnt Group’s key strategic initiatives this year. ”Said Therese Hillman, CEO of NetEnt.
Of course, it will be exciting to see what a merger can mean. Two big developers with a lot of powers are merged together.
NetEnt opened a new office in England
Now NetEnt has just opened an office in London. It is located on Kings Cross, which means central London and a cool work environment. If you need a new environment for work, you should look at the job announcements at NetEnt.
We can also mention that Gate777 today paid out € 2.3 million in jackpots at NetEnt’s slot machine Mega fortune. The bet? 50 cents.