Playtech is one of the leading online casino games developers in the market; Quickspin is one of the fastest-growing. Together, the two companies will make one impressive gaming provider that will offer players around the world a fantastic range of games.
Today, PlayTech announced that it will be acquiring Quickspin AB for a deal that could be worth up to $77 million. PlayTech will make an initial payment of $37 million to purchase 100% of Quickspin’s shares. The rest of the money will be paid out based on Quickspin’s EBITDA earnings in 2017 and 2018.
This is a great move for PlayTech, as Quickspin has seen impressive growth over the past year. In 2015, the company generated over $9 million in revenue with an adjusted EBITDA of $3.2 million. This is because Quickspin’s games are in high demand from online casino operators, and the company has struck up plenty of valuable deals this past year. Quickspin has signed contracts with some of the biggest online casino operators like LeoVegas, Vera & John, William Hill, Ladbrokes and Mr Green.
“We look forward to working with the Quickspin team and to see the Quickspin brand continue to flourish within the Playtech family,” says Playtech CEO Mor Weizer. “Quickspin is a fast-growing and leading supplier of the highest quality games to the highest quality operators, strengthening Playtech’s position as the leading platform and content provider in the industry.”
Quickspin has recently made quite an impression on the gaming market this past year. The company has released plenty of great games like The Wild Chase and Second Strike, which have become huge hits among players. So, it is no wonder why PlayTech is so eager to acquire Quickspin, as the two companies will work together to bring exciting new gaming innovations to the online casino market.