Playtech Buys Quickspin for 50 Million Euros

As one of the giants of online gambling, Playtech’s software can be found in numerous online casinos, poker rooms, and sports betting platforms. Recently the company announced that has acquired
  another prominent company, Quickspin, for the sum of 50 million Euros.

While Quickspin is relatively new and was only founded in 2011, it has grown extremely quickly over the last five years. It specializes in developing games of slots – and is involved in projects both for the gambling industry as well as for social media. Already the company has developed over 20 different games of slots and has been distributing them to over 40 clients – which is why it has managed to grow so quickly.

In the last year alone, Quickspin has managed to generate about 6 million Euros in revenue – and that figure is projected to grow significantly in the next two to three years. The profitability of the company along with its specialization in slots makes it a good fit with Playtech’s own expansion plans and is undoubtedly a big part of why they bought the company.

By purchasing Quickspin, Playtech will expand its already large catalog of games as it adds Quickspin’s virtual slots games to the fold. Already the company is one of the largest suppliers of games to online casinos, and this move will help to further cement its position in the industry. Based on the deal, Quickspin’s games will be distributed through Playtech’s channels in the future.

As noted by the company, Playtech expects the deal will further establish itself as a leader in the provision of a gaming platform and related content. Whether or not there are any plans to expand on the social-gaming content of Quickspin is unknown, but it is likely to not feature prominently in Playtech’s plans that are mostly gaming industry oriented.

The other bonus of the deal that works to Playtech’s advantage is the fact that it will now effectively have a presence in the Scandinavian region. In the past the company has indicated its desire to expand globally, so this acquisition seems to line up nicely with those plans.

Although Playtech has acquired companies in the past, this is the most that it has paid to acquire a game development company. Previously it acquired YoYo Games for 10.65 million Euros, and Aristocrat Lotteries for 10.5 million Euros. At one point it had planned an extremely large acquisition of Plus500 (an online foreign exchange trader) for $699 million – but that deal fell through.

Odds are that Quickspin will continue to focus on developing games of slots – just under the Playtech banner. Assuming you play at an online casino featuring Playtech’s platform then you may very well encounter some of those games in the near future. Of course if you’re looking for good deals and bonuses that you can take advantage of you can visit www.casinodeal.co.uk for a list of the best deals available at various online casinos. If you see the casino is powered by Playtech – that means Quickspin content may be included too.