Breaking: Playtech Recommits to Gaming, Acquires Game Studio Quickspin AB

Playtech has just committed a portion of its substantial cash resources to buying a Swedish game studio that is developing and supplying high quality video slots games to a number of firms. The company’s name is Quickspin AB and its products are available for both online real money gambling as well as in the online social gaming markets.

The Swedish game studio is headquartered in Stockholm, with the company’s portfolio currently including more than 20 high quality games and with the firm already supplying its products to more than 40 customers.

Quickspin's revenue and adjusted EBITDA for 2015 totaled of €6.0 million and €2.1 million respectively. With forecasts for further growth for the firm, Playtech has identified an opportunity to beef up its core business and recommit its efforts to its gaming division after the failed attempts to take over AvaTrade and Plus500.

Playtech acquires an established virtual slot machine games portfolio and some deeper penetration into the Nordic markets.

Commenting on the announcement, the CEO of Playtech, 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.”