NetEnt buys out Red Tiger Gaming

Leading software developer NetEnt have bought out the fast growing slots provider Red Tiger Gaming with a deal which is said to be worth up £223m. NetEnt will pay an initial sum of £197m for all of Red Tiger Gamings’ shares, with the addition of £23m to be paid in 2022, but this will be subject to the performance of Red Tiger Gamin over the 2 year period.

Therese Hillman, Group CEO of NetEnt, said: “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.”

Gavin Hamilton, CEO of Red Tiger, added: “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.”

Established back in 2014, Red Tiger Gaming has around 170 members of staff who are based in the Isle of Man, Bulgaria and Malta.