In addition to the initial purchase consideration, a remaining amount of maximum GBP 23 million may become payable in 2022 on an earn-out basis, subject to Red Tiger’s financial performance over the coming two years. NetEnt pays an initial consideration of approximately GBP 197 million for 100 percent of the shares of Red Tiger. 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.” Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth. “This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group.

Gavin Hamilton, CEO of Red Tiger, comments: The transaction will provide significant revenue synergies across our markets worldwide,” says Therese Hillman, Group CEO of NetEnt.

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 acquisition combines two of the leading and most innovative companies in the online gaming industry. “I am very pleased to welcome Red Tiger into the NetEnt Group. The acquisition of Red Tiger gives NetEnt the opportunity to capitalize on its scalable technology to support future growth.

Over the last several years, the company has invested in a global infrastructure focusing on customer reach and regulated markets, supporting a platform for scale. The deal is in line with NetEnt’s vision to create the future of gaming.

Red Tiger’s earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to reach GBP 18 million for the full year 2019. The company has approximately 170 employees with operations in Malta, Isle of Man and Bulgaria. The transaction will be completed imminently and is expected to be accretive to NetEnt’s EPS in 2020.Įstablished in 2014, Red Tiger is a leading online supplier of casino games and software renowned for its daily jackpot games. NetEnt has entered into an agreement to acquire fast-growing online slot supplier Red Tiger Gaming Limited (“Red Tiger”) in an all-cash deal with an initial enterprise value of GBP 200 million plus a possible additional amount of maximum GBP 23 million in 2022.

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