NetEnt Issues Positive Red Tiger Acquisition Report
Leading casino games developer and distributer NetEnt has reported having significantly streamlined its entire operation company-wide resulting from its Red Tiger Gaming acquisition. NetEnt acquired market competitor and leading developer Red Tiger Gaming during September of last year, and has since posted results that exceeded even its own projections in terms of synergies and elevated efficiencies.
The company has since the acquisition of Red Tiger Gaming had to necessarily implement various changes to its corporate structure, including the reduction of the number of people in its employment by at least 120. The majority of the jobs made redundant by the acquisition were operational at its headquarters in Stockholm.
NetEnt is now engaged in a phase involving the relocation of the approximately 120 full-time jobs no longer active in Stockholm as well as at its Malta offices. Despite the redundant nature of the positions at the mentioned locations, NetEnt will still remain in a position of having streamlined its operations as well as its expenses by relocation the affected employees to other venues and operations across the field.
The company has assured shareholders via its latest report that it remains firmly on track in terms of value and stock and that this is the result of its now having been in a position to issue new shares and cash payments following the acquisition of Red Tiger Gaming. The developer/supplier also recently issued a statement relating to the impact of the coronavirus on its day-to-day income and operations and said that to date, the global pandemic has not had an effect on its projections either way and that it remains, for the moment, unaffected by the spread and consequences of the virus.
Next Step: Integrating Shareholders
NetEnt CEO Therese Hillman recently issued a report updating shareholders regarding the next phase of the Red Tiger Gaming integration process and said that the process will next focus on integrating Red Tiger Gaming’s original shareholders into the combined spectrum.
Hillman assured NetEnt shareholders that the integration will add immense value to the combined force that is Red Tiger incorporated into the NetEnt fold and that significant benefits in terms of games development as well as overall fiscal strength are to be had because of the acquisition.
The company has been a leading games developer for the past 25 years and will thanks to the acquisition of Red Tiger Gaming, further solidify its position as leading creator of premium gaming offerings.