NetEnt was recently in the news when their surprise acquisition of rival Red Tiger Gaming for €220 million further cemented their position as an industry leader in RNG casino game development.
Not a company to rest on their laurels NetEnt began making great strides towards being powerful in the Live Dealer arena with the launch of their NetEnt Live suite of games which includes Perfect Blackjack, Blitz Blackjack, Live Roulette, Live VIP Roulette and several others.
NetEnt is once again in the limelight because of a landmark buyout bid, only this time they are the ones being acquired not the other way round.
Groundbreaking Multi-Billion Euro Bid
The paramour in this news story is none other than Evolution Gaming, the leading Live Dealer casino software developer. Making their intentions clear the Swedish game developer placed a bid that values NetEnt at SEK 19.6 billion (approximately €1.87 billion), based on the Nasdaq Stockholm closing prices on June 23rd.
Jens von Bahr, Chairman of the Board, Evolution Gaming commented: “This strategic acquisition is an important part of Evolution's long-term vision to become a market leader in the global online gaming industry. The combination of Evolution's strong offering in live casino and NetEnt's leading position in Online Slots will result in a portfolio of world-class online games that will enable us to serve a growing customer base.”
While the buyout bid is running in accordance with the rule 11.19 of the Nasdaq Stockholm Takeover Rules Evolution has made it clear that this is not a speculative offer nor are they interested in drawn-out negotiations.
According to their Press Release they “will not the offer” and urge all NetEnt shareholders to accept their proposal which represents a 43% premium on NetEnt’s closing series B share price on June 23rd.
Evolution Gaming has given NetEnt shareholders until October 26th to consider and accept the landmark offer with an expectation of fulfilment by no later than November 2nd of this year.
The Land of Opportunity
An interesting aspect of the deal could be the enhanced opportunity for growth and development in the burgeoning US market that such a merger would allow.
Mathias Hedlund of NetEnt took pains to highlight the advantages that a combined Evolution and NetEnt operation would have as North American gambling regulations continue to develop and expand.
Jens von Bahr supported added his agreement stating: “In addition, the combination of NetEnt's established position in North America and Evolution's existing studios in the US and our so-called first to regulated market strategy will put us in an advantageous position to capitalize on the ongoing regulation in North America.”
While NetEnt has been making headway as an RNG casino game provider in the USA and Evolution has been doing the same with its live casino games together they could become power player in the market.