One of the most prominent online casino content developers NetEnt AB has recently announced that it is acquiring its former rival, the Isle of Man-based Red Tiger Gaming Limited for a price of £223 million which equals to $275 million.

The Stockholm-based company used its official press release to reveal more details about this all-cash acquisition deal. Initially, the company will spend around £200 million for the full Red Tiger Gaming Limited’s shareholding followed by investing around £23 million two years later based on the newest acquisition business performance.

In its official press release, the NetEnt’s officials described Red Tiger Gaming Limited as one of the fastest-growing companies of this kind. This is definitely true for Red Tiger Gaming which was established back in 2014. Despite the fact that it is one of fairly new entrants in the world of online casinos, it has managed to build a great, reputable brand that specialized in the production of captivating, exciting iGaming content.

Creative Forces Behind Extremely Popular Slot Games

In fact, Red Tiger Gaming Limited stands behind some of the most captivating, most popular online slot games which players can access at a variety of reputable, professional online gaming operators. The company’s online gaming platform always delivers its clients a truly exciting gaming experience no matter their gaming device, their preferences, and their bankroll.

Moreover, its technologically advanced, cutting-edge gaming software that allows superb gaming sessions is easily accessible, packed with creative, authentic graphics that characterize the company’s original titles. When it comes to its licensing, Red Tiger Gaming Limited is licensed by the Isle of Man jurisdiction as well as by the United Kingdom Gambling Commission which adds to its reputability.

The company is mainly focused on the Asian and European online markets where its remarkable slot games are readily available. Speaking of its games, the majority of the Red Tiger Gaming’s games are modern, video slots that cover a variety of themes, come packed with loads of bonuses and often include loads of paylines.

Some of its most popular video slot releases include Chinese Wilds, Chinese Treasures, Arcade Bomb, Cinderella, Devil’s Number, Dragon’s Fire, Emerald Diamond, Epic Journey, Elephant Treasure, Dragon’s Luck, Divine Ways, Gems Gone Wild, Gemtastic, Fortune Fest, Golden Toad, Jade Charms, Laser Fruit, Imperial Place, Lion Dance, Jack In A Pot, Mayan Gods, Lucky Wizard, Midas Gold, Ocean Fortune and Pirates’ Plenty.

An Extremely Attractive New Asset

With such an impressive gaming library, Red Tiger Gaming Limited is definitely an extremely attractive new business asset for the leader in the industry, NetEnt. Currently, Red Tiger Gaming has around one hundred and seventy employees at its offices located in Malta, the Isle of Man and Bulgaria. Its games including its extremely popular daily jackpot games attract masses from all over Europe and Asia who will soon access their favorite Red Tiger Gaming-powered release at NetEnt online casinos.

As it was stated by NetEnt’s officials, this business agreement is all set, so once the company completes the first stage of the agreement, it automatically gains control over the entire entity which according to some predictions is very likely to record staggering earnings worth around $22 million. Commenting on the news, the NetEnt’s CEO Therese Hillman said that this business deal fits her company’s vision to bring innovation and creation to the gaming future while using super scalable technology for supporting future growth.

In its home country, Gamesys Limited has been penalized by the United Kingdom Gambling Commission for breaching the commission’s rules on social responsibility and money laundering. The company is a member of the Gamesys Group which is one of the most prominent United Kingdom-based software operators and developers. The company currently operates a number of real money slot machines in the United Kingdom as well as several social platforms which are also active outside the UK’s borders.

Gamesys Limited is best known for their bingo and casino sites which work on all sorts of gaming devices including web and mobile. As of recently, the company alongside Facebook has launched its very first real money gaming apps which can be downloaded to Android and iOS-powered smartphones and tablets. The company has been present in the iGaming industry since 2001 when Andrew Dixon, Robin Tombs, and Noel Hayden get together with the same vision and goal.

Gamesys Limited currently employs more than one thousand professionals in different fields. The company has more than forty million users from all over the globe. Throughout recent years, Gamesys Limited has partnered with many other big brands in the industry such as Tropicana Entertainment, Caesars, Virgin Games, and Heart. Currently, the Gamesys Group includes Mice and Dice Ltd, Leisure Spin Ltd, Nozee Limited, Gamesys Spain Plc, Profitable Play Ltd, Entertainment Play Limited and Gamesys Limited.

Gamesys Limited Ordered to Pay a £1.15 Million-Worth Fine

As announced recently, the company has been ordered to pay a staggering fine of around £1.15 or $1.45 million after the United Kingdom Gambling Commission have found out that Gamesys Limited has breached its rules on several different accounts including social responsibility and money laundering. The UK regulator in its official press release stated that the UKGC had conducted a detailed investigation into the Gamesys Limited operations.

This was fueled by a certain police inquiry which had discovered several instances where customers had wagered stolen money on the Gamesys Limited-operated JackpotJoy.com two years between 2014 and 2016. The amount of stolen money gambled here totals to £460,472 or $583,749. The United Kingdom Gambling Commission further added that these specific instances had represented a huge breach of the commission’s regulations related to anti-money laundering.

The regulator in its official press release also stated that Gamesys Limited had failed when it comes to efficiently discover the core source of these fraudulent activities happening on its website. This naturally leads to a series of issues related to players’ protection. The official press release also states that the company’s lack of intervention after discovering fraudulent activities on its website had actually exhibited behavior which could potentially trigger more damage than that is already done.

Gamesys Limited Has to Return the Stolen Money 

As a part of the settlement between the UK Gambling Commission and Gamesys Limited, Gamesys has to return the stolen money which was gambled on its website to its owners. Moreover, the company also has to hand over $874,783 or £690,000 in lieu. Following these events, the commission’s executive director, Richard Watson said that his group intends to use this settlement to accelerate the establishment of the commission’s National Strategy to Reduce Gambling Harms which is specifically tailored to diminish any kind of fraudulent activities and gambling harms.

When online casinos first started emerging almost three decades ago, there was no means of knowing if online casino operators were legitimate or not. Regardless of location, everybody could’ve accessed these sites in order to play. It turned out that, not so rarely, casino sites offered casino content without giving players a fair chance of winning, and in some cases, made sure that there was no chance of winning at all.

Fortunately, things have changed, and today, there are all sort of rules which online casinos need to follow so they can meet requirements, made by their regulatory body. The first country to feel the need that such regulations were necessary was the UK. With its primary goal to protect players, the country defined the entire online gambling industry under the Gambling Act 2005, and now, every online casino operator under UK jurisdiction needs to have a license, granted by the UK Gambling Commission.

What Licensing Means for the Players

As a part of the UK Government, UKGC is in charge of supervision of the entire gambling industry in the UK. For gambling activities to continue in a fair and open environment, it’s necessary for all the UK online casinos to be approved by the UKGC. As mentioned before, to do that, online casinos need to follow certain rules as well as pass thorough background checks. The process takes time as well as money. In addition, after a license is acquired, all online casino profits come attached with a 15% tax rate (a part of it is being distributed to programs against gambling addiction). On the other hand, players are not required to pay anything on their winnings while enjoying online casino services, provided UKGC-licensed online casino.

Despite pretty clear instructions on how to conduct gambling activities, thanks to technology advancement, it has become easier for online casinos to cheat on players. In such cases, the UKGC dispute resolution system acts as an objective third party with no interest in the matter but to protect players.

Also, with their most important goal to shield players from potential irregularities, UKGC continually checks regulations, bringing in new ones when it deems necessary. Their latest addition relates to minors, and very soon, new regulations should be expected concerning their welfare.

Additional Implications

For the UK online casinos, it is strictly forbidden to allow those under the age of 18 to take part in gambling. Thanks to the new regulations which concern this particular group, upon registration and before any deposits, the UK online casinos in ownership of license will have to demand identification as well as positive age verification. With verification enabled beforehand, withdrawals will be much quicker, and without additional delays.

Within their regulatory duties, UKGC has the power to put an end to money laundering and in the process, put a stop to serious crimes such as terrorism or any other form of criminal activities by cutting off their funding. Also, in addition to protecting players, a license also provides much-needed credibility to the gaming industry.