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NetEnt swoops in on Red Tiger in £220m deal

5th September 2019 11:36 am GMT
Stockholm-listed casino supplier NetEnt has agreed a £200m+ deal to acquire award-winning casino games developer Red Tiger. The all-cash transaction will see NetEnt pay an initial consideration of £197m for the business, with an additional £23m becoming payable in 2022 if certain conditions are met. The maximum price of £220m payable by NetEnt represents a 12x multiple of Red Tiger’s current year EBITDA, and NetEnt expects to book transaction and financing-related costs of SEK55m (aaprx. £4.6m) in [...]

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