written and last updated by
Sam Smith at
06 Sep 2019
Journalist, Editorial Department
Swedish company NetEnt has acquired online gaming developer Red Tiger for £200 million. The deal is expected to be finalized shortly.
According to a press release, the stated price is not final. Depending on Red Tiger's financial performance over the next two years, the former owners of the studio could receive additional bonuses totaling £23 million.
The acquisition of this successful studio aligns with NetEnt's strategy announced at the end of 2018 to significantly expand its game offerings. At that time, representatives of the gambling giant expressed a strong desire to broaden their portfolio.
"This acquisition will bring together two of the most innovative companies in the online casino industry. We look forward to working with this team to offer our products to operators and players," said NetEnt CEO Therese Hillman.
Founded in 2014, Red Tiger is one of the fastest-growing companies in online casino software. The studio employs around 170 people, with offices located in Malta, the Isle of Man, and Bulgaria. Its collection of video slots includes popular titles such as Dragon’s Luck, Jack in a Pot, Tiki Fruits, and more.
Last month, Red Tiger's management highlighted the success of its daily progressive jackpot system, reporting over £2.5 million in payouts within the first four months of its launch.
