By November 24, 2021

Games Global Limited to Buy Microgaming’s Quickfire Service & Online Portfolio

A deal between Microgaming and Games Global Limited, two gaming giants, has been announced in a move that’s set to shock the industry. Games Global is set to purchase Microgaming’s Quickfire service, as well as the developer’s online gaming portfolio, with the agreement due to be concluded in 2022.  

The cost of the deal hasn’t been reported, but it’s thought to be a considerable amount since Games Global will secure the international distribution rights to a significant portfolio.  

Led by former IGT Vice President of New Business and Strategic Initiatives, Walter Bugno, Games Global was created in 2021 and this latest announcement is viewed as a huge coup for the young brand. Not only has it convinced Microgaming to sell, but the acquisition of Bugno is believed to be a major success due to his experience within the sector.  

When the deal is done, it will contribute to Games Global’s catalogue of games, which is expected to reach 3,000 and be accessible to customers on several continents. They include North and South America and Europe. However, the final amount will depend on additional deals with companies that haven’t yet been named.  

Speaking on their website, Microgaming CEO John Coleman said: “This is an exciting deal that has been in the making for some time and which will provide new growth and opportunity for both Microgaming and Games Global.   

“We are announcing it now to provide sufficient notice and clarity for our partners and stakeholders. Games Global will acquire the game IP and distribution business previously known as Quickfire, and Microgaming will continue to support its core traditional business while increasing its reach with the addition of new business and managed services.”  

Why Is It a Shock?

The landmark sale has come out of the blue, mainly because of the relative reputations of the two companies. Games Global is a newcomer to the industry, even if CEO Walter Bugno and CFO Tim Mickley have worked for some of the biggest brands in the sector.   

Microgaming, on the other hand, is a market leader that is notorious for being at the helm of tech developments in the iGaming sector. It has an extensive customer base of 900 global gaming brands, most of which Games Global will inherit, and popular slot game titles players love, such as Reel Gems and Megah Moolah. This has made Microgaming a top software provider in the gaming industry, reflected in the fact that their online slots have above-average slots RTP rates, with Reel Gems offering users an RTP of 97.49%, allowing it to compete with releases from competitors like NetEnt, Thunderkick and Relax Gaming.  

Of course, these are the reasons Games Global has sought to buy out Microgaming. With this base, the business will seek to expand its services and raise awareness of its brand to improve its market share. Judging from Microgaming’s success in recent years, it looks like a smart strategy. 

What Could Hold the Deal Back?  

The agreement has only been made in principle. Therefore, there hasn’t been any approval by the regulatory bodies, and that will be a sticking point if Games Global can’t acquire the necessary permits. As Games Global is a new business, it doesn’t have the necessary licences to bypass the regulations.  

Shareholders will also get to vote on the future of the deal. Mr. Coleman touched on the shareholders in his statement, but they will want much more clarity, particularly surrounding the financial benefits and the long-term advantages for Microgaming, which has a reputation of offering some of the best slots on the market.  

 

Posted in: News

About the Author:

More than 20 years in the IT industry. Blogging with a passion and thirst for new technology since 2005.
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