NetEnt Buys Casino Software Provider Red Tiger

netentNetEnt, a Stockholm, Sweden-based provider of digitally distributed gaming systems, has entered into an agreement to acquire Red Tiger Gaming Limited, an Isle of Man-based online slot supplier.

The all-cash deal had an initial enterprise value of GBP£200m plus a possible additional amount of maximum GBP£23m in 2022. The transaction, financed primarily through new debt facilities provided by Danske Bank and Nordea, will be completed imminently and is expected to be accretive to NetEnt’s EPS in 2020.

Led by Therese Hillman, CEO, NetEnt is a digital entertainment company providing gaming solutions to some of the world’s most successful online casino operators like, e.g. the ones at Listed on NASDAQ Stockholm (NET–B), it employs around 1 000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey.

The deal is in line with NetEnt’s strategy of creating a global infrastructure focusing on customer reach and regulated markets. This acquisition gives the company the chance to capitalize on its scalable technology and sustain future growth.

The acquisition combines the two companies to enhance their combined global reach and to offer increased value to operators and players and provide significant revenue synergies across their markets worldwide.

Established in 2014 and led by Gavin Hamilton, CEO, Red Tiger is an online provider of casino games and software popular for its daily jackpot games.
The company, which has approximately 170 employees with operations in Malta, Isle of Man and Bulgaria, expects to reach GBP£18m in earnings before interest, taxes, depreciation and amortization (EBITDA) for 2019.
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