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NetEnt acquired casino software provider Red Tiger Gaming

George Miller

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NetEnt intends to accelerate payment of earn-out consideration for Red Tiger through a directed issue of new shares
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NetEnt has announced plans to acquire online slot provider Red Tiger Gaming Limited (“Red Tiger”) in a deal with an initial purchase price estimated at £200 million, with the possibility of an additional £23 million to be added in 2022 depending on Red Tiger’s future financial performance.

NetEnt was founded in 1996. Today it’s without a doubt the leader in the gaming industry, serving the world’s best online casinos with impressive games.

They have headquarters in Malta, Stockholm, Kiev, Gibraltar, New Jersey, Krakow and Gothenburg, with over 1,000 employees. The company is listed on the NASDAQ Stockholm exchange and are steadily growing every day. Players value Netent games for different reasons. Mostly because they have released more than 200 Games, most of which have amazing graphics and sounds – with licensed branded titles such as The Invisible Man™ and most recently Planet of The Apes™. Some of their latest released slots include The WishMaster™, Grand Spinn Superpot™, Mercy of the Gods™ and many more which you can find the reviews on CasinoRange NetEnt section.

Red Tiger Gaming

On the other hand, Red Tiger Gaming is a smaller company founded in 2014. They managed to grow to a well-known slot’s provider over the last few years. Their operations are based in Malta, Isle of Man and Bulgaria, with about 170 employees. They have been expanding for the last few years, expecting to net over £18 million in earnings before interest, taxes, depreciation and amortization (EBITDA) for the year 2019.

The Acquisition

Red Tiger Gaming has been valued at around £223 million in total. The initial purchase consideration is set at £197 million with an additional £23 million to follow up in 2022 on an earn-out basis. It will be very interesting to see how the expected synergies will pan out over the next two years and how this acquisition will benefit NetEnt and its loyal customer base. So far, it’s unknown if the Red Tiger Gaming slots will be rebranded with the NetEnt logo or will they continue to operate as a separate company.

What the officials say

NetEnt’s Chief Executive, Therese Hilman, has commented on the deal and the expected synergies, stating: “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.” At the same time, Red Tiger’s chief executive also expressed: “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.”

All that remains is to see how the acquisition will go and what novelties we can expect from the two companies in the near future.

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ZEAL Network Reports Good Start to 2021

Niji Narayan

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ZEAL Network Reports Good Start to 2021
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German online lottery products provider ZEAL Network SE has reported a good start to 2021, with the company increasing its revenue, profitability and achieving a strong gross margin.

In the first quarter of 2021, billings rose by 17% to EUR 163.31 million (2020: EUR 140.0 million), of which the Germany segment accounted for almost the entire amount at EUR 163.3 million (2020: EUR 139.7 million). Revenue increased by as much as 19% to EUR 22.6 million (2020: EUR 19.0 million), of which EUR 21.1 million was attributable to the Germany segment (2020: EUR 17.0 million). At 12.7%, the gross margin in the Germany segment was above the prior-year level (2020: 12.1%).

During the fiscal period, the Company gained 156 thousand new registered customers in the Germany segment (2020: 206 thousand). Adjusted EBITDA rose to EUR 4.6 million (2020: EUR 2.8 million) – there were no non-recurring expenses or income. The Germany segment accounted for EUR 4.1 million of this amount (2020: EUR 1.9 million). EBIT and net profit of EUR 2.4 million and EUR 2.5 million, respectively, were also well above the prior-year figures (2020: EUR 0.0 million and EUR 0.1 million, respectively).

“We are pleased that, following the LOTTO24 takeover, the business model change and the organisational adjustments, we will again be able to publish truly comparable figures in the current and previous reporting periods with the first quarter of 2021. In addition, we already demonstrated in the past year that we are capable of exploiting market opportunities, adapting to dynamic environments and continuously fine-tuning our business model. We are consistently continuing along this path,” Jonas Mattsson, CFO of ZEAL Network SE, said.

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Industry News

Dutch Lottery Board Appoints Alexander Pechtold as Chairman

Niji Narayan

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Dutch Lottery Board Appoints Alexander Pechtold as Chairman
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The Dutch Lottery’s supervisory board has appointed retired politician Alexander Pechtold as chairman. He replaces the outgoing chairman of the board, Jan Loorbach, whose tenure has come to an end.

Pechtold is currently general director of The Netherland’s central bureau for driving licences. Before retiring from politics, he had a long career in the Democrats 66 (D66) party, including a 12-year tenure as a parliamentary leader from 2006 to 2018.

“It is an honour to be able to contribute to the future of the largest socially oriented, pre-Dutch gaming organisation. The Netherlands Lottery has proven its position in the lottery market. With just as much energy and confidence, the Netherlands Lottery will also become active in the online gambling market with a responsible offer,” Pechtold said.

“The board and the entire management of the Dutch Lottery are happy with the arrival of Alexander Pechtold. He is introduced to a healthy and future-oriented organisation, and we look forward to continuing to build on our position in the gaming market with the supervisory board,” Niels Onkenhout, CEO of Dutch Lottery, said.

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Industry News

CT Gaming Interactive Content Live on New Casino Brands via BlueOcean

Niji Narayan

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CT Gaming Interactive Content Live on New Casino Brands via BlueOcean
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Online gaming content and solutions provider CT Gaming Interactive has taken its content live with new casino brands through the BlueOcean platform.

The launch on new sites continues the expansion of the company’s reach. The players’ favourite games will be available to the platform’s operating partners horuscasino.com, fortunepanda.com, hazcasino.com and vegazcasino.com. Among the titles which have gone live with the new brands are Lucky Clover, 40 Treasures, Bombay Gems, Dancing Dragons, Darkwoods, Pot o’ Luck, Ramesses the Great and Wizard Blizzard.

“We are delighted to be partners with a platform as forward-thinking as BlueOcean and I am certain our games will be excellently perceived by its operating partners’ players,” Milena Tsankarska, Business Development Manager at CT Gaming Interactive, said.

“We are definitely satisfied with how our partnership with CT Gaming is growing as we already managed to successfully distribute their games to a nice number of online casino operators and we are positive that with time we will be able to expand the collaboration even more,” Dejan Jović, CEO of BlueOcean Gaming, said.

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