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NetEnt acquires casino software provider Red Tiger

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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. The transaction will be completed imminently and is expected to be accretive to NetEnt’s EPS in 2020.

Established in 2014, Red Tiger is a leading online supplier of casino games and software renowned for its daily jackpot games. The company has approximately 170 employees with operations in Malta, Isle of Man and Bulgaria. Red Tiger’s earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to reach GBP 18 million for the full year 2019.

The deal is in line with NetEnt’s vision to create the future of gaming. 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 acquisition of Red Tiger gives NetEnt the opportunity to capitalize on its scalable technology to support future growth.

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. 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 transaction will provide significant revenue synergies across our markets worldwide,” says Therese Hillman, Group CEO of NetEnt.

Gavin Hamilton, CEO of Red Tiger, comments: “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. 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.”

NetEnt pays an initial consideration of approximately GBP 197 million for 100 percent of the shares of Red Tiger. 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. This implies a maximum enterprise value of GBP 223 million, corresponding to an enterprise value multiple of c. 12 times current year EBITDA. NetEnt’s income for the third quarter of 2019 will include approximately SEK 55 million of transaction- and financing-related costs.

The acquisition is financed primarily through new debt facilities provided by Danske Bank and Nordea.

Lazard has acted as financial advisor and Cirio Advokatbyrå has acted as legal advisor to NetEnt in connection with the transaction.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: NetEnt acquires casino software provider Red Tiger

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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F1 Esports: another four races in Stockholm for Scuderia Ferrari HP

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The F1 Sim Racing championship is back in the Stockholm arena (Sweden) for Event 2 of 2025. After the opening four races in January, the Scuderia Ferrari HP Esports Team drivers are confident and ready to score points to be front runners during the second part of the season.

A complicated start – After memorably winning the constructors’ world championship in the 2023/2024 season, Bari Broumand and Nicolas Longuet struggled to repeat that form in the opening event of the year, even if the former secured a stunning win at the Bahrain circuit. Apart from that, there were complications in either qualifying or the race in Australia, China and Saudi Arabia which means the team is currently fifth in the constructors’ standings, 50 points off the leader. It’s a big gap but not an insurmountable one, with eight races remaining.

The calendar – Event 2 takes place from 11 to 13 February and features races on the classic European tracks of Silverstone, Spa-Francorchamps and Zandvoort, as well as the United States GP in Austin. It’s an important step on the way to the final, which runs from 25 to 27 March, with the Grands Prix in Mexico, Brazil, Qatar and Abu Dhabi.

The post F1 Esports: another four races in Stockholm for Scuderia Ferrari HP appeared first on European Gaming Industry News.

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Grace Media bolsters senior team with new hires and promotions

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Grace Media, the leading provider of white-label online gaming solutions, has strengthened its senior leadership team with two new hires and two promotions.

James Goodliffe joins as Head of Sportsbook, a role to which he’ll bring more than 25 years of experience at some of the biggest names in the industry, including Ladbrokes, Gamesys and LiveScore Group.

Also joining the Grace Media team is Frazer McNaughton, as Head of Compliance, having previously held safer gambling roles at companies including William Hill and Midnite.

Grace Media has also promoted two existing staffers to senior positions. Chris Prentice assumes the new role of Head of Revenue & Commercial Partnerships, where he’ll be tasked with expanding the company’s portfolio of partners.

And Gary Barber becomes Grace Media’s new Marketing & Operations Director, expanding his remit to include a focus on ROI within the marketing spend.

Grace Media CEO Warren Jacobs said: “It is exciting to see the Grace Media team growing, and these appointments reflect our commitment to delivering the very best to our partners. James and Frazer add significant experience and know-how, while Chris and Gary are now even better positioned to drive the business forward. With such a strong team in place, it’s set to be a landmark year for Grace Media.”

Grace Media helps some of the biggest gaming brands in the world into the UK market via white-label agreements, as well as providing support across CRM, compliance, payments and fraud protection and more.

Last year, the company partnered with Rollbit for the fast-growing operator’s UK debut.

The post Grace Media bolsters senior team with new hires and promotions appeared first on European Gaming Industry News.

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Esports World Cup Foundation Announces Partnership with Riot Games as VALORANT Joins League of Legends and Teamfight Tactics at EWC 2025

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The Esports World Cup Foundation (“EWCF”) and Riot Games today announced a three-year partnership that will see VALORANT, the award-winning 5v5 tactical shooter and one of the world’s most popular esports, make its highly anticipated debut at the Esports World Cup 2025, alongside the return of League of Legends and Teamfight Tactics (TFT).

As the leading titles in their respective genres, all three games will showcase the best clubs, players and talent the esports world has to offer when they come on stage in Riyadh this summer. League of Legends fans can look forward to an international event featuring the best teams battling it out for prestige on a global stage and a life-changing prize pool; VALORANT will bring together some of its most compelling players for the largest major tournament outside the VCT structure; and TFT will provide opportunities for top, international talent to compete in an exciting team format.

The collaboration strengthens the EWC’s position as a global platform for the industry’s most influential games, uniting top esports titles under one competitive banner to expand their reach, engage new audiences, and shape the future of esports as mainstream entertainment. The addition of VALORANT further solidifies this mission, bringing one of the most impactful games to the esports ecosystem in recent years to the event. To date, 23 tournaments in 22 games – including first-person shooters, MOBAs, battle royales, real-time strategy and fighting games – have been announced for 2025, with more to come.

In addition, the agreement includes a global commercial partnership between EWCF and LOL Esports, the VALORANT Champions Tour (VCT), and the TFT 2025 competitive circuit. Kicking off at VCT Masters Bangkok on February 20, 2025, the collaboration will feature EWC in-broadcast activations at LoL Esports, VCT, and TFT global LAN events.

“Riot Games has shaped the cultural impact of competitive gaming, transforming esports into a global entertainment force,” said Fabian Scheuermann, Chief Games Officer, Esports World Cup Foundation. “With League of Legends’ iconic World Championship – which continues to set new standards for immersive experiences, VALORANT’s cultural collaborations, and Teamfight Tactics’ community-driven events, Riot has pioneered an ecosystem far beyond competition. By bringing these titles to the Esports World Cup, we are not just celebrating elite gameplay – we are, together, expanding esports as a global entertainment movement, creating deeper connections with fans across gaming, music, and digital culture.”

League of Legends, one of the world’s most popular games with 100 million active monthly players, delivered a standout moment at the EWC 2024 Grand Final as esports legend Lee “Faker” Sang-hyeok led T1 to victory in front of 12.5 million viewers online and thousands of fans in Riyadh. Meanwhile, in the Teamfight Tactics Grand Finals, T1 fell just short, as Wolves Esports, representing English Premier League club Wolves, claimed the title with a 3-1 win, led by MVP Li “LiShao” Chengyu.

Esports World Cup 2025 will once again unite gaming and esports communities in Riyadh, Saudi Arabia, for a global competition that will crown the next Esports World Cup Champion. The tournament’s unique cross-game format will reward clubs and players competing for a life-changing prize pool across a mix of platforms and genres, bringing together esports’ best teams, players and games under one banner in the largest-ever celebration of esports.

The post Esports World Cup Foundation Announces Partnership with Riot Games as VALORANT Joins League of Legends and Teamfight Tactics at EWC 2025 appeared first on European Gaming Industry News.

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