The Swedish world-leading provider announced the closure of the acquisition deal of Red Tiger Gaming for £223m. Netent will invest immediately approximately £200m for the purchase of the complete shareholding of the Isle of Man-based supplier of online casino software. A further amount of maximum £23m will be paid off in 2022 by Netent, depending on the revenue of the new asset.
For Netent the buying of Red Tiger Gaming is considered a significant move. The company described Red Tiger as one of the high-profile providers in the industry with an impressive growth within just a few years. According to Netent’s financial predictions, Red Tiger is expected to present an EBITDA of approximately £18m by the end of the year.
Therese Hillman, CEO of Netent, commented that the technological advances of the new acquisition will serve his company’s ambitions of dominating the future landscape of igaming. Hillman welcomed Red Tiger and expressed his eagerness to work with its team in order to extend Netent’s global reach and add up new casino games to its portfolio.
On behalf of Red Tiger Gaming, CEO Gavin Hamilton stated that he is content with the decision of joining forces with the Netent network. He also characterized the deal as “an exciting new stage” in his company’s “life” as it will provide Red Tiger with the opportunity to enter the distribution network and the long list of jurisdictions where Netent is active. Hamilton commented as well that he expects his company to maintain its drive for constant innovation and enhance its effectiveness by taking advantage of all the privileges that a member of the Netent network enjoys.
About Red Tiger Gaming
Red Tiger Gaming is an igaming software provider founded in 2014 and based on the Isle of Man. The provider holds licenses from UKGC, MGA, the regulator of Gibraltar and the Alderney Gambling Control Commission. Despite the fact it is a new player in the industry, it has an impressive reach of its portfolio to brands across Europe and Asia. Red Tiger is well-known for its slots with an emphasis on producing jackpot slots. Innovative Daily and Ceiling Jackpots are the trademarks of the company. Some of the most popular slots of the provider are Lucky Halloween, Dragon’s Luck and Esqueleto Mariachi. Since September 2019 Red Tiger is a member of Netent AB’s network as it was acquired by the Swedish provider.