A NetEnt acquired the game developer Red Tiger Gaming in September this year.
The total cost: 245.3 million euros (about 220 £ million).
"I am very pleased to receive the Red Tiger on Netent Group", knee a CEO Yes Netent, Therese Hillman.
Netent, based in Stockholm, Sweden, will acquire Red Tiger in a live cash agreement, with an initial value of approximately 197 million pounds (EUR 220 million), followed by a gain of up to 23 million pounds to be Paid up to 2022. The movement is being funded primarily through debt lines with Nordea and Danske Bank. The purchase price represents just over 12 times the expected Red Tiger EBITDA of £ 18 million (20 € million) for the whole year 2019.
"I am very pleased to receive the Red Tiger in the Netent group. The acquisition combines two leading innovative companies in the online casinos industry. We look forward to working with the fantastic team of Red Tiger to strengthen our overall distribution and continue to create value for operators and players. The agreement will lead to significant revenue synergies in our world markets ", comment Therese Hillman, all that Netent.
Another exciting step on the Red Tiger Gaming journey
Founded in 2014, Red Tiger Gaming, based in Malta, quickly became one of the main Online Game Suppliers for Game Operators, both in Sweden and abroad. The company is behind the popular titles Dragon’s Luck, Mystery Reels e Mega Pyramid And it is known for being one of the first suppliers in the market to introduce daily jackpots in their games. Today, approximately 170 people work in the operations of Red Tiger in Malta, on the Island of Man and Bulgaria.
"This is a new and exciting step on the Red Tiger journey and I look forward to being part of the Netent group. With the exclusive global netent distribution network, new opportunities are created for Red Tiger grow even faster. In Red Tiger, as always, let's focus on innovation and hope to work with Netent to find ways to maximize our general ability to create new innovative products for our customers, " affirm Gavin Hamilton, CEO da Red Tiger, on a Official statement