Swedish video slot creators Quickspin have today announced a deal that will see them being taken over by Playtech, a giant in the online gambling space for a reported figure of €50 million.
Quickspin
Quickspin offer high quality video slots content to online casinos with their most popular titles being Big Bad Wolf and Goldilocks and the wild bears. If you want to check out these games you can play them at Reel Island.In total, Quickspin have released over 20 games since the launch of the company in 2011. Over 40 different casino brands offer their slot games which includes top international brands.The financial figures back their progress also as Quickspin achieved revenue of €6 million last year and with the recent signing of new contracts it looks extremely likely that these figures will grow year on year.
Expanding Playtech’s Position In Scandinavian Market
The main benefits of this sale for Playtech, is that it can expand its position as one of the leaders in online gaming and allow them to get a stronger foothold in Scandinavia. Playtech are to pay Quickspin €50 million or 6 times the gaming companies EBITDA projected come the end of 2018. However, an initial payment of €24 million will be paid to secure all Quickspins shares.The hard work isn’t over just yet for the Quickspin owners as they are required to work out the next 3 years as part of the acquisition.Quickspin recently launched brand new slot title ‘Spinions’, a ‘spin off’ of the famous yellow creatures.