Evolution Gaming’s acquisition of software developer NetEnt and its subsidiary companies such as Red Tiger Gaming is close to completion according to an inside source.
According to our exclusive insider, the acquisition is close to completion and will come into effect next month. This is the first real piece of news we have had on this acquisition since the press release from NetEnt in June 2020 saying they had a public offer from Evolution Gaming in the region of SEK 19.6bn which is roughly £1.7bn.
It is little wonder why Evolution Gaming want to acquire NetEnt as they have proven how reliable they are as a software provider. They have been making games since 1996 but turned their focus to casinos in the early 2000s. They have since expanded massively with over 300 online casino sites. Their slot games, in particular, are superb with unique bonuses, low stakes and a good RTP such as Hotline 2, Gonzo’s Quest, Dead or Alive , Narcos.
Evolution Gaming’s Acquisition Review
Back in June, the Chairman of Evolution Gaming had this to say on the transaction: “This strategic deal marks a significant step towards Evolution’s long-term vision of becoming the global market leader in the online casino industry.
“The combination of Evolution’s strong offering in live casino with NetEnt’s leading position in online slots will result in a world-class portfolio of online games that will enable us to serve a growing customer base.”
The reason for this deal is that Evolution gaming is that they aim to become one of the world leaders in the online gaming industry. This is evident as they will have a combined product portfolio of live casinos and online slot games.
This will also help both companies launch in the USA market more, as further states legalise gambling.
Mathias Hedlund, who is the chairman of NetEnt had this to say on the deal: “Recently, NetEnt has vastly improved its tech and product development capabilities and thereby its growth prospects and at the same time reaching a strong position within the US states that have opened up for online casino.
“With this deal, there are unique possibilities to shape a leading global B2B provider of online casino, taking advantage of the market development with continued digitalisation and strong growth, especially in North America.
“Evolution’s position within live casino combined with NetEnt’s position within online slots will create a company well-positioned to take significant market shares. Through this transaction, a new chapter in the development of more entertaining online casino begins, in the best interest of players, operators, employees and shareholders.”