NetEnt coordinates Red Tiger for further collaboration

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NetEnt announces - To further strengthen and increase an efficiency NetEnt is implementing changes in the organization with full integration with the acquisition of gaming provider Red Tiger (which was acquired in September of 2019). The changes mean a reduction of approximately 120 employees, mainly located in Stockholm and Malta. These measures are in line with NetEnt’s strategy. As a result, The restructuring is estimated to result in annual savings of approximately SEK 150 million on a cash-flow basis, beginning in the second half of 2020. NetEnt also tells that the earn-out consideration for Red Tiger will be redeemed through a directed issue of new shares and cash payment.

Therese Hillman, Group CEO of NetEnt said: “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”.