Quickspin acquired by Playtech for a maximum of € 50 million

Quickspin is one of the fastest growing slot machine developers for online casinos.

The company has only been around since 2011 and was founded by two veterans of game maker Netent (Daniel Lindberg and Mats Westerlund) and the former boss of the casino branch of Unibet (Joachim Timmermans).

"Our mission was to create the coolest video slots our industry had ever seen, or simply put, to make games that we would like to play ourselves," said Lindberg in the press release accompanying the acquisition.

Quickspin acquired by Playtech for a maximum of € 50 million

Quickspin founder Lindberg has something to celebrate.

Over the past five years, Quickspin has developed around 20 slots that can be played at over 40 different casinos.

Popular slots include Big Bad Wolf, Genie’s Touch and Second Strike.

The profit figures show that the three founders are not the only fans of their own games. The turnover of Quickspin in 2015 was € 6 million. Of this, € 2.1 million profit remained below the line.

Playtech immediately pays the shareholders € 24 million. In addition, an earn-out is added, depending on the profit that Quickspin generates in 2017 and 2018. The total purchase price is a maximum of € 50 million.

The three founders have promised to stay with the company for at least another three years.

Mor Weizer, chief executive of Playtech, is in turn delighted with the acquisition:

"Quickspin is a fast growing and leading supplier and supplies games of the highest level to casino operators of the highest level."

Photo: Quickspin.com

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