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NetEnt intends to accelerate payment of earn-out consideration for Red Tiger through a directed issue of new shares

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NetEnt continues to increase productivity and strengthen its competitiveness, and the integration of Red Tiger is an important part of this process. To support and speed up the integration, NetEnt intends to accelerate the payment of the earn-out consideration for Red Tiger through a directed issue of B-shares to the sellers of Red Tiger.

NetEnt acquired Red Tiger in September 2019. In conjunction with the acquisition, it was announced that an additional consideration amounting to maximum GBP 23 million could become payable in 2022 on an earn-out basis, subject to Red Tiger’s financial performance over the coming two years. Since the acquisition, Red Tiger’s financial performance has exceeded the company’s forecasts by a wide margin. By facilitating a full integration, the potential to extract synergies increases for NetEnt, both in terms of revenues and costs. One example of revenue synergies already having a positive effect is the first jointly developed game, Piggy Riches, which was released in January 2020 and which so far has been the best game release ever for Red Tiger.

In order to support the integration of the companies, NetEnt has today agreed with the sellers of Red Tiger on an addendum to the share purchase agreement (SPA). This means that the conditions for payment of the earn-out consideration are deemed to have been met. Half of the earn-out consideration is to be paid through a directed issue of new B-shares in the second quarter of 2020, and the rest as cash in the second quarter of 2021.

The addendum to the SPA is subject to approval of a directed issue of 6,327,175 B-shares to the sellers of Red Tiger by the Annual General Meeting (AGM) of the shareholders of NetEnt, scheduled for April 29, 2020. The new shares will be issued at a price of 21.34 SEK per share, which corresponds to the volume-weighted average price of NetEnt’s B-shares on Nasdaq Stockholm during the period of February 24 – March 20, 2020.

Based on the addendum, the Board of Directors of NetEnt is proposing to the AGM on April 29, 2020, to resolve on a directed share issue in accordance with the conditions set out above. The summons to the AGM will be sent out separately today, including the detailed decision about the directed new share issue by the Board of Directors.

As a result of the proposed new share issue, the share capital of NetEnt will increase by approximately 31,762 SEK to 1,237,219 SEK. The total number of shares outstanding after the share issue will amount to 245,458,035, split between 33,660,000 A-shares and 211, 798,035 B-shares. These numbers are adjusted for previously repurchased shares amounting to 1,000,000 B-shares. Consequently, the share issue leads to a dilution of 2.6 percent of total shares and 1.2 percent of total votes of the company on a fully-diluted basis (i.e. based on the total number of shares and votes outstanding after the share issue).

The sellers of Red Tiger commit not to sell the newly issued shares during a lock-up period until March 2022. One of the sellers is Gavin Hamilton, CEO of Red Tiger and newly appointed Chief Operating Officer of NetEnt.

Continent 8 Technologies

Continent 8 appoints Cris Kuehl as Chief Data, Information & AI Officer

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Continent 8 Technologies, a leading provider of managed IT solutions for the global iGaming and online sports betting industry, has appointed Cris Kuehl as its Chief Data, Information & AI Officer.

Cris brings over 20 years of expertise in AI, analytics, and data strategy, with senior roles including VP of Artificial Intelligence & Data Science at Akkodis and Global Head, CX Analytics & AI at Foundever. His career focuses on helping regulated organisations adopt secure, scalable, and practical AI capabilities.

At Continent 8, Cris will oversee the company’s global data, AI, and information strategy, driving innovation in analytics, automation, cybersecurity, and customer-centric intelligence. He will also shape AI-enabled product development, champion responsible AI practices, and strengthen data governance for the iGaming, tribal, and enterprise sectors.

Michael Tobin, CEO and Founder of Continent 8, said:
“Cris’ expertise across data, AI, and regulated environments is a perfect fit for our organisation. His leadership will help us provide secure, high-performance solutions that deliver measurable value to customers.”

Cris Kuehl added:
“I’m thrilled to join Continent 8 at such a pivotal moment. AI is transforming how organisations operate, collaborate, and protect their data. Continent 8 is uniquely positioned to lead this transformation in the iGaming and online sports betting sector, and I’m excited to drive the next chapter of innovation.”

The post Continent 8 appoints Cris Kuehl as Chief Data, Information & AI Officer appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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iGaming

PRAGMATIC PLAY BRINGS LEGENDARY SLOTS IP TO LIVE CASINO WITH GATES OF OLYMPUS ROULETTE

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Pragmatic Play, a leading iGaming content supplier, has launched Gates of Olympus Roulette, a live casino experience that merges classic roulette with thrilling slot-action, delivering a game show truly fit for the gods.

Set in a temple-inspired studio with a marble-encased roulette wheel at its centre, the game immerses players in a Grecian fantasy world, complete with striking visuals, dramatic sounds, and charismatic presenters.

Each spin offers the chance to hit a Bonus Number and up to seven Lucky Numbers, carrying multipliers of 50x–250x to boost straight-up bets. The Super Booster feature further amplifies wins by multiplying the Bonus and selected Lucky Numbers 2x–10x, enabling potential payouts of up to 2,500x in the base game and 10,000x in the bonus round.

Landing the Bonus Number triggers the Gates of Olympus bonus game, where Zeus presides over a 6×5 slots grid. Starting with 15 spins, players win whenever 8–12+ matching symbols appear anywhere on the reels. Multipliers up to 500x can strike randomly on any spin or tumble, and three or more scatters award five additional spins.

Following the success of Sweet Bonanza CandyLand, which brought the iconic Sweet Bonanza slot to live casino audiences, Gates of Olympus Roulette underscores Pragmatic Play’s expertise in transforming beloved slot IPs into cross-vertical live experiences. The launch complements recent game show hits like Money Time and Mega Roulette 3000.

Sharon McHugh, Director of Public Relations at Pragmatic Play, said:
“Gates of Olympus Roulette is a spectacular addition to our portfolio, bringing one of our most celebrated IPs into the live casino spotlight. The epic studio design, dynamic roulette-slot fusion, and immersive Grecian theme showcase Pragmatic Play’s commitment to creating truly standout player experiences.”

The post PRAGMATIC PLAY BRINGS LEGENDARY SLOTS IP TO LIVE CASINO WITH GATES OF OLYMPUS ROULETTE appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Prime Casino launches ultimate VIP Football Experience

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Online casino Prime Casino is giving players the chance to win a once-in-a-lifetime VIP Football Experience in the USA this summer.

Running now until 7 June 2026, new players who deposit a minimum of £10 will receive 155 free spins on Football Cash Collect and can participate in freeroll tournaments and raffles, all leading to the ultimate football prize.

VIP Treatment Stateside

With international football heating up, 48 teams will compete across Canada, Mexico, and the USA. Winners of Prime Casino’s VIP Football Experience will enjoy a guest pass, quarter-final match tickets, VIP hospitality, covered accommodation, and flight contributions.

England, second favourites to replicate their 1966 triumph, face Croatia, Ghana, and Panama in the group stage, with a potential quarter-final against Brazil looming. Scotland will also compete, starting against Haiti before facing Morocco and Brazil.

Play for Prizes

Eligible players can join a series of freeroll tournaments and raffles, featuring prizes including cash, free spins, and the headline VIP Football Experience.

Freeroll Tournament Prizes:

  • 1st: VIP Football Experience
  • 2nd: £1,500 cash (TV prize)
  • 3rd: £1,000 cash (Free Pizza for a Year)
  • 4th–100th: 150 free spins
  • 101st–200th: 125 free spins
  • 201st–300th: 100 free spins
  • 301st–400th: 60 free spins
  • 401st–500th: 40 free spins
  • 501st–600th: 25 free spins
  • 601st–650th: 15 free spins

Raffle Prizes:

  • 1st: VIP Football Experience
  • 2nd: £1,500 cash
  • 3rd: £1,000 cash

Full terms and conditions: Prime Casino Football Experience
18+ GambleAware.org

Dom Aldworth, Head of Brand Marketing at Kinetic Digital, said:
“Football remains one of the most exciting engagement drivers for our players. This campaign combines a strong welcome offer with ongoing tournaments and the chance to win a VIP football trip, giving multiple ways to get involved. At Prime Casino, we focus on creating standout experiences that players genuinely value, and this promotion is a perfect example.”

The post Prime Casino launches ultimate VIP Football Experience appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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