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NetEnt acquired casino software provider Red Tiger Gaming

George Miller

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NetEnt acquired casino software provider Red Tiger Gaming
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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.

Industry News

Casino Technology Rebrands as CT Gaming

Niji Narayan

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Casino Technology Rebrands as CT Gaming
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Casino Technology has announced its rebranding and name change. CT Gaming will be the new brand name of Casino Technology as of January 1, 2020.

The change is driven by the company’s growth, expanded innovations and its desire to better reflect its commitment to be at the forefront of the ever-changing technology environment and customer demands.

“As we marked 20 years in business this year, we recognised the need to better communicate our vision for the next period. Building on our core and looking into the future objective to embrace innovation and focus on the new generation of players, it was clear that rebranding was in order. The new name mirrors our constant drive to improve and be in the van of unleashing unconventional concepts and shaping trends. Our team embraced the rebranding decision enthusiastically and are charged with new ideas, commitment and motivation to deliver the best of their expertise,” Milo Borissov, founder and president of the company said.

“CT Gaming represents the evolution in our company, reflecting and merging our genesis into this new era. We will continue to strive to deliver the best customer services and bring excellence at all levels to our partners and customers, solidifying loyal and meaningful relationships that shape our industry’s tomorrow,” Rossi McKee, vice president of the company said.

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Industry News

Europe’s Online Gambling Market Grows 11% in 2018

Niji Narayan

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Europe’s Online Gambling Market Grows 11% in 2018
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Europe’s online gambling market has shown an impressive growth last year.

According to the market data published by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital, Europe’s online gambling market grew 11% from €20 billion GGR in 2017 to €22.2 billion GGR in 2018.

According to the new data, EGBA members had 16.5 million active customers and generated €5.41 billion in online gambling GGR in 2018. The UK market (34.2%) accounted for the largest portion of the total EU online gambling market, with a market value of €7.3 billion GGR.

Sports betting was the most popular online gambling activity with 42.5% of the total EU market share (worth €9.4 billion GGR), followed by casino games at 32.4% (€7.2 billion GGR), lottery at 12.6% (€2.8 billion GGR), poker at 5% (€1.1 billion GGR), bingo at 4.3% (€1 billion GGR), and other games with a 3.2% market share (€0.7 billion GGR).

As per the new data, 57% of online bets were placed from a desktop computer, while 43% of online bets were placed from phones and tablets – up from 39% in 2017 and highlighting a shift towards the use of mobile devices.

“Europe’s online gambling market continues to show a strong demand-driven growth and a switch to mobile devices. But its increased popularity reinforces the need for more consistent and strong consumer protections and industry standards across all EU countries. The current situation of diverging and sometimes conflicting regulations in EU countries is detrimental to consumers, authorities and operators alike,” Maarten Haijer, Secretary General of EGBA said.

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Industry News

Grand Casino Baden Chooses SafeCharge, a Nuvei company, to Power Payments for Its Online Platform

George Miller

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Grand Casino Baden Chooses SafeCharge, a Nuvei company, to Power Payments for Its Online Platform
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One of Switzerland’s first licensed online casinos leveraging SafeCharge’s best-in-class payments technology for its iGaming service

SafeCharge, a Nuvei company, announces it has partnered with leading Swiss operator Grand Casino Baden to process credit card payments for its digital gaming platform jackpots.ch, developed by Gamanza. The collaboration provides Grand Casino Baden, a pioneer in online regulated gaming in the region, the ability to better address the needs of a growing audience of online gamers.

Earlier this year, Switzerland’s Federal Gaming Commission (ESBK) made the decision to regulate the country’s online gambling market, allowing Swiss land-based casinos to operate online. SafeCharge offers Visa and Mastercard acquiring services issued by Swiss banks, and through a single API integration that connects to over 180 payment methods, including local favorite Post Finance, enables jackpots.ch players the flexibility to pay through the method of their choice.

By utilising SafeCharge Cashier, Grand Casino Baden benefits from a frictionless payment experience for its online customers, delivering seamless deposits and withdrawals, plus compliance with anti-money laundering (AML) laws. SafeCharge handles the safeguarding of sensitive information, descoping the casino’s PCI DSS (Payment Card Industry Data Security Standards) liability. Further, by integrating with SafeCharge Cashier, Grand Casino Baden aims to increase its readiness for complying with the EU’s revised Payment Services Directive (PSD2) strong customer authentication (SCA) requirements.

“We knew that we had to partner with a technology player with the highest credentials and the ability to support our business within an extremely complex market, outside of EU legislations,” said Marcel Tobler, chief financial officer at Grand Casino Baden. “SafeCharge has been our preferred choice thanks to its proven track-record in the industry and unrivalled experience in fraud prevention and AML.”

“We are delighted to be working with the team at Grand Casino Baden to provide payments for its rapidly growing iGaming operation,” stated Yuval Ziv, MD of SafeCharge and head of global acquiring. “This partnership marked our entrance into the Swiss online gaming market, and we are excited at the prospect of our payments technology platform better servicing the region’s customers. As demonstrated by our long-standing collaborations with multiple tier 1 gaming operators, our solution is the ideal choice for institutions who require navigating the regulatory complexities of local markets without compromising user experience.”

Through this partnership, SafeCharge has displayed it is well-positioned to address the needs of the rapidly growing Swiss online gaming market. Fore more information about SafeCharge Cashier, click here.

 

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