Published on by Ben
The online gambling industry experienced considerable growth during 2020, with some key players reporting record revenue and profit. Among the established ...
Published on by Ben
NetEnt is excited to announce that its deal to acquire online slot supplier Red Tiger Studios will soon be finalised. The £223m deal combines two of the most innovative companies in the online gaming industry. Red Tiger Studios is renowned for its jackpot games, and is a leading supplier of online casino software.
NetEnt’s chief executive officer Therese Hillman provided an update about the deal in March 2020. Hillman stated:
“We are now entering the next phase of the integration with Red Tiger, whose sellers are also becoming shareholders of NetEnt. The integration will unleash the full potential of our shared capabilities, create significant efficiency gains in games development and strengthen our position as the market leader in online casino.”
The two companies’ first collaboration introduced Gonzo’s Quest, a fan favourite since its debut in 2011 and one of the world’s most iconic games, into the Megaways sector of the online gaming community. Megaways is an innovative gaming mechanic from Australian developer Big Time Gaming that offers thousands of ways to win. This next-level slots mechanic burst onto the scene back in 2019, and Big Time Gaming decided to licence it to other developers. There are approximately 80 Megaways titles currently available from providers such as Scientific Games, Inspired Gaming, Pragmatic Play and Blueprint Gaming.
The release of Gonzo’s Quest Megaways saw an incredible response from online gambling hobbyists and enthusiasts alike. While NetEnt has enjoyed success in the progressive jackpot market with titles such as Mega Fortune and Hall of Gods, the takeover of Red Tiger Studios has allowed the firm to expand into the area of daily jackpots. Daily jackpot games offer players the chance to win an ever-growing prize that has to be claimed by a certain time or before it reaches a specific amount. The Swedish firm hopes to make a big impression on the daily jackpot crowd through its collaboration with Red Tiger Studios.
As industry executives, investors, gaming and gambling officials, and even players themselves have undoubtedly noticed, NetEnt is becoming more and more active across the scale. As entertainment becomes more digitally-based, having a trusted platform and provider with a proven track record of integrity and reliability will be highly valued. This is one of the many advantages of acquiring a company with a stellar reputation, such as Red Tiger Studios.
Combining two of the most highly respected and capable gaming design companies might soon enable them to achieve a level of success that even the most optimistic estimates could not have forecasted.