Playtech buys Swedish games studio Quickspin

Gambling software developer Playtech has acquired Swedish games studio Quickspin AB for a maximum consideration of six times the company’s EBITDA in 2018, subject to a €50m cap.

The Stockholm-based company, which develops and supplies high-quality video slots to operators in online real money gambling and in the social gaming market, generated revenue and adjusted earnings before interest, tax, depreciation and amortisation of €6m and €2.1m respectively in the year to the end of December.

Playtech said the deal will give it a proven virtual slot machine games portfolio, strengthening its position as the leading content provider in the industry, and providing greater penetration in the Nordic region.

In addition to Quickspin's existing customer base, Playtech plans to distribute Quickspin's content through its existing distribution channels across all verticals.

Chief executive officer Mor Weizer said: “Quickspin is a fast-growing and leading supplier of the highest quality games to the highest quality operators, strengthening Playtech's position as the leading platform and content provider in the industry. We look forward to working with the Quickspin team and to see the Quickspin brand continue to flourish within the Playtech family.

“Playtech remains in active discussions for a number of other bolt-on acquisitions as well as larger acquisitions in the gaming division, together with discussions for selective bolt-on acquisitions in the financials division."

At 1040 BST, Playtech shares were down 0.1% to 837.00p.