Industry News
NetEnt intends to accelerate payment of earn-out consideration for Red Tiger through a directed issue of new shares
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.
AI
Tugi Tark whitepaper puts AI iGaming support at €0.15 per ticket
Tugi Tark has released a 2026 whitepaper, The economics of AI-powered iGaming customer support, arguing that AI changes the unit economics of player support and can reduce costs compared with human-led operations.
The report cites “verified pricing” of EUR 0.15 per AI-handled ticket. It compares that with fully loaded employer costs for human support in Romania and Bulgaria of EUR 1.73 to EUR 1.88 per ticket. At a “realistic” 70% AI containment rate, the whitepaper claims a blended cost of about EUR 0.67 per ticket, which it describes as roughly a 64% reduction versus a human-only baseline of EUR 1.88.
Tugi Tark says its analysis draws on Eurostat 2024 labour cost data, published research on AI chatbot benchmarks, independent iGaming player behaviour research, and operational data from its own deployments. The company estimates operators can achieve a 55% to 75% reduction in total support expenditure, and argues AI can absorb volume spikes—such as during major sporting events—without additional hiring or training lag.
Harpo Lilja, founder and CEO of TUgi Tark, said: “In 2026, the ‘wait-and-see’ approach to AI is costing operators millions in unnecessary overhead. We aren’t just talking about chatbots; we’re talking about a fundamental shift in the unit economics of player retention.”
The whitepaper also frames customer support as a retention lever, stating that payment issues account for 52% of ticket volume and that slower response times drive churn. It claims a 0.5 percentage point churn reduction could retain an additional 500 players per month for a mid-sized operator, translating to €200,000 in annual revenue based on an assumed €400 Player Lifetime Value. Tugi Tark also claims AI agents average ~7 seconds for first response versus ~60 seconds for human agents, and outlines use cases across Responsible Gambling escalation, KYC/AML workflows, and GDPR-aligned data sovereignty.
The post Tugi Tark whitepaper puts AI iGaming support at €0.15 per ticket appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Game Development
Games Global outlines May slot roadmap with Snowborn, AreaVegas and Just For The Win
Games Global has published its May content roadmap, highlighting new slot releases from Snowborn Games, AreaVegas Games and Just For The Win, and a continued push to reuse established mechanics across its studio network.
The supplier said Area Link
and Power Combo
will feature prominently in May’s launches. AreaVegas Games’ Area Link
Chilli uses six chilli symbols above the reels tied to bonus modifiers that can trigger individually or together, including cash prizes and fixed jackpots, multipliers, instant collectors and value boosters.
Games Global also pointed to Just For The Win’s Bison Ridge Power Combo
, where Link&Win
is combined with Power Combo
to create what it described as a more varied bonus structure.
Snowborn Games’ Volcanic Fortune
is positioned around bonus modifiers such as collectors and multipliers, plus a Treasure Chest meter designed to build towards higher-value bonus outcomes.
David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “Our studios bring the craft, and May’s roadmap puts that on full display. It’s built around extending global franchises into new titles across our network, which is how we deliver breadth without compromising quality. The result is a pipeline that gives operators choice and players variety.”
The post Games Global outlines May slot roadmap with Snowborn, AreaVegas and Just For The Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
charity-lotteries
ZEAL posts 6% Q1 2026 revenue growth as EBITDA dips on investment spend
ZEAL Network SE reported higher first-quarter 2026 revenue despite what it described as a weak jackpot environment, while profitability softened as the company increased investment. Revenue rose 6% year-on-year to €54.3 million (2025: €51.1 million). EBITDA fell to €15.5 million from €17.7 million.
“The first quarter of 2026 shows that we are consistently executing our strategy even in a weak jackpot environment: our core business is growing, and we have continued to invest in diversifying our business model,” says Andrea Behrendt, CFO of ZEAL. “Through targeted investments in new charity lotteries such as the Dream Car Raffle, we are laying the foundation for sustainable growth that is less dependent on jackpot cycles. The slightly lower EBITDA compared to the previous year is primarily a reflection of these measures.”
In the core lottery segment, ZEAL said average monthly active users increased 5% to 1,575 thousand (2025: 1,507 thousand), while new registrations climbed 11% to 274 thousand (2025: 247 thousand). Lottery billings edged up 1% to €268.0 million (2025: €264.7 million). The lottery gross margin improved to 17.8% (2025: 17.1%), with lottery revenue up 5% to €48.7 million (2025: €46.3 million).
ZEAL also used Q1 to prepare a new in-house charity lottery product. The company said it launched the Traumautoverlosung (English name: Dream Car Raffle) on 14 April 2026, its third charity lottery in Germany after freiheit+ and the Dream House Raffle.
In Games, ZEAL reported revenue up 14% to €3.9 million (2025: €3.4 million) after expanding its B2C portfolio to more than 740 titles. ZEAL said higher marketing costs (+13%) and personnel expenses (+21%) reflected continued investment in scaling charity lotteries and Games alongside the core lottery business.
The post ZEAL posts 6% Q1 2026 revenue growth as EBITDA dips on investment spend appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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