Red Tiger Gaming purchase for NetEnt AB
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NetEnt AB will pay up to $275 million for Red Tiger Gaming Limited. The deal will see the Stockholm-headquartered company buy the company for $246.75 million.
NetEnt is interested in Red Tiger, a leading online supplier of casino games and software with around 170 employees at offices in Malta, Bulgaria and the Isle of Man. NetEnt expects to complete the initial stage of this agreement ‘imminently’ to give it control over an entity that is predicted to record earnings before interest, tax, depreciation and amortization this year of approximately £18 million ($22.21 million).
Red Tiger Gaming Limited has been bought by NetEnt AB. Therese Hillman, Chief Executive Officer for Netent, is pleased with the deal. She believes it will provide significant revenue synergies across their markets worldwide.
Red Tiger Gaming Limited will become part of NetEnt AB. Gavin Hamilton, Chief Executive Officer for Red Tiger, is excited about the deal. He is looking forward to working with Netent AB on how to leverage their combined capabilities to create new products.
