Published on 25th May 2016 by Becky Mosley

Knowing that the online casino market is more competitive than ever, it is clear that Playtech is taking steps to ensure that they aren’t overshadowed by the competition. Marking the company’s first major acquisition of 2016, Playtech has now signed off an agreement that has seen it acquire up and coming Swedish gaming content developer Quickspin for €50 million.

Quickspin

When addressing developer’s that have grabbed the bull by the horns in recent years you need to give Quickspin plenty of consideration. Founded by the three-man team of Joachim Timmermans (CPO), Mats Westerlund (CCO), and Daniel Lindberg (CEO), the brand has a 20 game strong back catalogue of titles, servicing 40 mid range online casino game clients in the process. Given its rise, earnings potential, and performance, it’s no surprise that major name developers loomed large over the company.

Continue To Flourish

Proving to be the first name to make a move, it is Playtech that has been able to secure the company and the rights to its creations. During the official announcement Mor Weizer (Playtech CEO) had this to say, “We are delighted to welcome Quickspin into the Playtech group. Quickspin is a fast-growing and leading supplier of the highest quality games to the highest quality operators, strengthening Playtech’s position as the leading platform and content provider in the industry. We look forward to working with the Quickspin team and to see the Quickspin brand continue to flourish within the Playtech family”.Wiezer also commented on future acquisitions for the Playtech brand, ”Playtech remains in active discussions with some other bolt-on acquisitions as well as larger acquisitions in the gaming division, together with discussions for selective bolt-on purchases in the financials division”.