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NetEnt acquires Red Tiger Gaming, NetEnt Acquires Red Tiger Gaming in Canada

NetEnt Acquires Red Tiger Gaming in Canada

Looking at the combined market penetration and creative power, there will be much to be expected from the new “marriage” of these two extraordinary game studios who had quite an impact on the casino community in the last decade. According to NetEnt, the deal is in line with its vision to create the future of online gaming. We shall keep an eye on the next developments!
From their press release on 5th September 2019:

NetEnt acquires Red Tiger Gaming!

For everyone involved in online gaming, a quiet and unsuspecting Thursday ended abruptly with the announcement that industry giant NetEnt AB had agreed to acquire one of its competitors, Red Tiger Gaming, for an initial GBP 197 million. The amount could grow by another GBP 23 million by 2022 based on the performance for the period.

Considering that Red Tiger Gaming was founded in 2014 only, the amount seems unprecedented even for a fast-growing industry like online gaming. However, the studio has made a name itself for developing top-class casino games and stands out from the crowd especially for its slot masterpieces such as Dragon’s Fire, Pirates Plenty: Battle For Gold or Laser Fruit. It has also signed a licensing deal for the Megaways engine, releasing in 2019 their first games named Mystery Reel Megaways or Dragon’s Fire Megaways. In total, the studio released over 100 video slots ranging from single liners all the way up to unprecedented 60,466,176 ways.

Red Tiger Gaming is headquartered on the Isle of Man and has secondary offices in Malta and Bulgaria, employing a total of 170 people and has an expected EBITDA ( earnings before interest, taxes, depreciation and amortization) for 2019 topping GBP 18 million. That pegs the purchasing price NetEnt is paying to c. 12 times current year EBITDA, which is well in line with company acquisitions of this size.

NetEnt is, of course, a much larger enterprise listed on the Stockholm Stock Exchange and although its share price nearly halved since its peak in 2007, the company has been on an upward trajectory for the last two years. Employing over 800 people in seven locations around the globe, they heavily invested in new regulated markets such as the USA or Asian region, not just acquiring the appropriate licenses but also developing dedicated slots and games that appeal to the new clientele.

From their press release on 5th September 2019:

Gavin Hamilton, CEO of Red Tiger: “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.”

Therese Hillman, Group CEO of NetEnt: “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.”

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NetEnt Acquires Red Tiger Gaming For £200M

NetEnt, in an attempt to promote its strategy to “create the future of gaming” has done a one-up on its market contenders by acquiring Red Tiger Gaming for a sizeable £200 million asking price. The mentioned price represents the initial deposit payable, with a further and final £23 million payable in 2022, depending on Red Tiger’s future performance over the course of the 3 years.

Red Tiger Gaming was initially founded in 2014 and has been consistently building its international support market ever since. The developer recently achieved significant success following the launch of its popular Daily Drop Jackpot Network. Daily Drop has since its launch in April of this year paid out prize money in excess of £2.5 million.

NetEnt Will Build On Success

The acquired developer currently employs at least 170 people at its international offices. Its offices are spread out over Malta, Bulgaria and the Isle of Man. Red Tiger as since its establishment roughly 5 years ago managed to close a significant number of partnership deals and in so doing has made its way into various regulated markets all over the world.

The company has been working tirelessly towards achieving significant global reach and has been quite successful in its endeavours; so much so that its EBITDA is projected to be worth a stunning £18 million by the close of 2019.

NetEnt now hopes to take full advantage of and capitalise on the amazing levels of success achieved by the Red Tiger team. It also recognises that it will further support Red Tiger’s future growth by investing its own capital and development resources into the latter’s business operational structure.

Marriage Made In Heaven

NetEnt also confirmed that the financial resources needed to make the Red Tiger acquisition deal a possibility were made available by Danske Bank and Nordea as part of a new debt structure facility in favour of the Swedish games giant.

NetEnt CEO Therese Hillman considers the acquisition to represent the coming together of two of the leading companies currently actively doing business in the global games market. Hillman said that one of the main drivers behind the acquisition offer and deal is the possibility of extending NetEnt’s own global reach into more regulated world jurisdictions.

Significant scales of revenue are expected to be generated by the new Red Tiger Gaming acquisition deal.

NetEnt And Red Tiger Enlarge Canadian Footprints

Premium iGaming solutions and casino software provider NetEnt, along with NetEnt-owned online slots development specialist Red Tiger, have announced a major expansion initiative in the Canadian online gaming market. An enlarged operator base obviously means more high-quality gaming content becoming available to Canadian iGaming enthusiasts than ever before.

Two additional operator brands present in the Canadian iGaming sector are Royal Vegas and Platinum Play – both of which have no signed on with NetEnt and Red Tiger. NetEnt is the studio behind some of the most popular online slots available to players around the world, including top titles like Jack and the Beanstalk, Starburst, Dracula, and Twin Spin. Red Tiger, in turn, is the creative force responsible for Treasure Mine, Piggy Riches Megaways, and Dragons Luck Stacks – among others.

Leaders In Their Field

Acquired by NetEnt in September last year in a deal worth US$287 million, Red Tiger is an acclaimed and award-winning expert developer of online slots. Currently a market leader in its chosen field, Red Tiger not only sports a portfolio chock-full of delightful online slot titles, but they’re also the team behind several fully integrated engagement and player-retention tools, including their Smart Spins gamification tool.

Additional top-end features and tools available from Red Tiger include a superb range of online slot tournaments, jackpots boosted by “must drop” bonus features, hourly as well as daily bonus evens, and much, much more.

This Is How NetEnt Does It

Besides the latest operator deals signed in Canada, NetEnt signed numerous important partnership deals in the U.S. during the third quarter of 2020. Prominent deals inked during Q3 include one signed with BetMGM, a Pennsylvania-focused deal with Wind Creek Casino, and also a huge content supply deal with German sports betting operator Tipico.

More recent deals signed alongside prominent big-gaming players include supply partnerships concluded with DraftKings and with the Cordish group of companies.

The iGaming and integrated solutions supplier recently published an interim financial report covering the period January to September 2020. NetEnt during this period posted a 17 per cent hike in year-on-year revenue – with Q3 earnings posted for 2020 nearly 18 percent higher than Q3 earnings posted for the same quarter last year.

NetEnt Acquires Red Tiger Gaming – Dead or Alive Megaways To Follow?!

Netent Have Acquired Red Tiger Gaming In a Deal Worth £200 Million

It has been announced that NetEnt, one of the world’s biggest slot game developers has acquired Red Tiger Gaming in a deal worth an initial £200 million. NetEnt are pursuing a well-publicised strategy of global domination facilitated by building a scalable business in regulated markets. The purchase of Red Tiger, a company with 170 employees based in Malta, Isle of Man and Bulgaria, is in line with this vision.

“I am very pleased to welcome Red Tiger into the NetEnt Group.”Said NetEnt CEO, Therese Hillman. “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.”

Whilst NetEnt have been at the cutting edge of online game development since the company was founded in 1996, Red Tiger are a newer operation. They were founded just 5 years ago, in 2014, yet they have already made a considerable impression on the market.

Their growth has been driven lately by ‘must drop’ jackpots, and a deal signed in 2018 to license Big Time Gaming’s Megaways™ engine. A deal which has led to the release of high variance titles, Golden Leprechaun Megaways™ and Mystery Reels Megaways™.

“This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group. said Gavin Hamilton, CEO of Red Tiger.

“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.”

So, will Red Tiger’s Megaways™ connections mean we will soon be seeing Dead or Alive Megaways™, or Gonzo’s Quest Megways™? Do we even want them?! Time will tell … keep watching this space

NetEnt Completes Red Tiger Acquisition for £220m

NetEnt acquires Red Tiger in £220m deal

That constitutes 12 times NetEnt’s projected EBITDA for 2019

The last tranche to be paid by 2022 and valued at £23 million

NetEnt has revealed Red Tiger acquisition, paying £220 million to acquire the rival gaming vendor. The companies are hoping to achieve new synergies and accelerate growth together.

NetEnt Buys Red Tiger in £220m Deal

NetEnt has sent ripples across the iGaming industry landscape with a newly-minted acquisition, first in the company’s history. The company is moving in to assume control over Red Tiger Gaming, a competitor, in a record-breaking $271 million bid or estimated £220 million.

NetEnt acquires casino software provider Red Tiger!

With the deal confirmed and completed, NetEnt has now assumed full control of the company, paying out the equivalent of £197 million in cash. Later, the company will put down additional £23 million payment by 2022. Speaking about the acquisition, NetEnt CEO Tehrese Hillman had this to say:

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.

Ms. Hillman expressed hopes that Red Tiger would be a perfect fit in the NetEnt’s company culture. Furthermore, the company would give NetEnt additional reach in the iGaming world, bring more value to operators and players.

Not least of all, NetEnt expects more synergies between the companies, owing to their global footprint.

Red Tiger’s Quick Growth

Red Tiger arrived rather late in the iGaming landscape, opening doors in 2014 with its original team behind a gaming project, Cayetano Gaming. Since then, the company has quickly established itself as one of the go-to vendors, providing quality gaming products and daily jackpots to casino players and brands.

Today, Red Tiger operates from three countries, specifically Malta, the Isle of Man and Bulgaria with over 170 employees on its payroll. Commenting on the latest operation, Gavin Hamilton, said that the acquisition was a new stage for the development of the company.

“We are delighted to be part of NetEnt,” Mr. Hamilton added. He also praised the Stockholm-listed operator for its “unparalleled distribution network and geographic footprint”. All of this, Mr. Hamilton said, would hopefully let Red Tiger boost its 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.

NetEnt is also paying a substantial chunk for the acquisition. The cited £220m is equal to 12 times the company’s EBITDA for 2019, which is expected to hit £19 million this year. The deal was conducted with the help of Lazard, which served as financial advisor, and Cirio Advokatbyrå, a law firm, which advised NetEnt legally.

To date, NetEnt is one of the largest iGaming vendors with a number of branded slot games, such as Jumanji™ video slot, Emoji Planet video slot™, Planet of the Apes™ video slot, Universal Monsters™ The Phantom’s Curse, Guns n’ Roses™, Dracula™, The Invisible Man™, Motörhead Video Slot™, and others.

At the end of 2018, the company vowed to boost its game making department in a bid to release close to 40 titles in 2019.

Photo credit: NetEnt and Red Tiger Twitter feed.

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September 6, 2019 - CasinoBloke

One of the leading software developers NetEnt has announced that they will acquire the fast-growing slot supplier Red Tiger Gaming. Initial enterprise value is £200 million plus a possible additional amount of £23 million in 2022. The Swedish-based developer says that the deal is in line with their vision to create the future of gaming.

An All-Cash Deal

According to the press release published on the NetEnt official website, the developer has entered into an agreement to acquire fast-growing online slot supplier Red Tiger in an all-cash deal worth £200 million initially. Founded in 2014, Red Tiger Gaming has quickly become one of the leading providers of casino games. Lately, they have come to the attention thanks to their highly popular daily jackpot games. The Malta-based company has approximately 170 employees. Apart from their offices in Malta, they have operations in the Isle of Man and Bulgaria. Before interest, taxes, depreciation and amortization (EBITDA), Red Tiger’s earnings are expected to reach $18 million for the full year 2019.

It is stated that NetEnt pays an initial consideration of approximately $197 million for 100% of the shares of Red Tiger. A remaining amount of maximum $23 million may be paid in 2022 on an earn-out basis, which will depend on Red Tiger’s financial performance over the next two years. This could amount the maximum enterprise value to $223 million.

NetEnt’s income for the third quarter of 2019 will include approximately SEK 55 million (£4.6 million) of the transaction and financing-related costs. The company financed the acquisition primarily through new debt facilities provided by Danske Bank and Nordea.

Acquisition to Support Future Growth

The acquisition of Red Tiger is in line with NetEnt’s vision to create the future of gaming, says the developer. They have invested in a global infrastructure over the last several years focusing on customer reach and regulated markets and supporting a platform for scale. NetEnt sees the deal as the opportunity to capitalize on its scalable technology, which will support future growth.

Therese Hillman, Group CEO of NetEnt, says that 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,” says Hillman adding that the transaction will provide significant revenue synergies across their markets worldwide.

For Red Tiger, this is an exciting new stage of their story.

“Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth,“ comments Gavin Hamilton, CEO of Red Tiger.

At Red Tiger, they say they will remain focused on driving further innovation. They are looking forward to working with NetEnt on how to leverage their combined capabilities and create new products that will wow their customers.

NetEnt Acquires Red Tiger Gaming – Dead or Alive Megaways To Follow?!

Netent Have Acquired Red Tiger Gaming In a Deal Worth £200 Million

“This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group. said Gavin Hamilton, CEO of Red Tiger.

So, will Red Tiger’s Megaways™ connections mean we will soon be seeing Dead or Alive Megaways™, or Gonzo’s Quest Megways™? Do we even want them?! Time will tell … keep watching this space

NetEnt acquires Red Tiger Gaming!

From their press release on 5th September 2019:

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NetEnt agrees £220m acquisition of Red Tiger Gaming

Stockholm-listed casino games developer NetEnt has agreed the first acquisition in its history, with a deal to take control of slot specialist Red Tiger Gaming worth up to £220m (€245.3m/$271.4m).

NetEnt will acquire Red Tiger in an all-cash deal, with an initial enterprise value of approximately £197m, followed by an earn out of up to £23m to be paid by 2022.

“I am very pleased to welcome Red Tiger into the NetEnt Group,” NetEnt chief executive Therese Hillman (pictured) said. “The acquisition combines two of the leading and most innovative companies in the online gaming industry.

Founded in 2014 by the team behind Cayetano Gaming, Red Tiger has quickly established itself as a leading supplier in the industry, with its Daily Jackpots feature in particular proving a huge hit with players. The company has approximately 170 employees, with operations in Malta, the Isle of Man and Bulgaria.

Red Tiger chief executive Gavin Hamilton said: “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.”

NetEnt will pay an initial £197m for 100% of shares in the business, and a further £23m may be payable in 2022, based on Red Tiger’s financial performance over the coming two years, for a maximum enterprise value of £223m. This represents a multiple of 12 times the supplier’s earnings before interest, taxes, depreciation and amortization (EBITDA) for 2019, which is projected to reach £18m.

As a result of the acquisition, NetEnt said, it would incur approximately SEK55m in transaction- and financing-related costs. The deal is being financed primarily through new debt facilities provided by Danske Bank and Nordea.

Lazard acted as financial advisor to NetEnt in relation to the transaction, with Cirio Advokatbyrå serving as legal advisor.

So, let's define, what was the most valuable conclusion of this review: For everyone involved in online gaming, a quiet and unsuspecting Thursday ended abruptly with the announcement that industry giant NetEnt AB had agreed to acquire one of its competitors, Red Tiger Gaming, for an initial GBP 197 million. The amount could grow by another GBP 23 million by 2022 based on the performance for the at NetEnt Acquires Red Tiger Gaming in Canada