Playtech, one of the world’s largest and most influential online gambling software providers, has officially acquired Quickspin in a landmark €50 million deal. The acquisition comes at a time when the online betting and iGaming sector is experiencing sustained global growth, making it a strategic move for Playtech to strengthen its position in the competitive market.
Founded in 1999, Playtech has built its reputation on delivering high-quality casino, live dealer, and sports betting software. With deep roots in casino gaming, multimedia development, and engineering, the company has consistently adapted to changing market demands, allowing it to remain a dominant force in online gambling software for more than 15 years.
The €50 Million Quickspin Deal Explained
Why Playtech Bought Quickspin
The acquisition of Quickspin aligns with Playtech’s long-term growth strategy and expansion goals. Several key factors influenced the deal:
- Playtech aims to expand its premium slot portfolio with Quickspin’s innovative and visually striking video slots
- The deal supports Playtech’s goal of maintaining strong revenue growth and trading momentum
- Quickspin strengthens Playtech’s reach in online, social, and real-money gaming markets
- Playtech continues to reinforce its position as a leading European online gaming supplier, listed on the London Stock Exchange
Playtech agreed to pay up to €50 million, which equates to roughly six times Quickspin’s projected EBITDA for 2018. While the valuation raised some industry eyebrows, Playtech remained confident that Quickspin’s creative output and market performance justified the price.
How the Payment Structure Works
Acquisition Breakdown
The €50 million purchase price was structured in two stages:
- €24 million upfront payment, covering 100% of Quickspin’s shares on a debt-free, cash-free basis
- €26 million earn-out, payable based on Quickspin’s EBITDA performance across 2017 and 2018
This structure allows Playtech to tie a significant portion of the payment to Quickspin’s continued financial success.
About Quickspin
A Rising Star in Slot Development
Quickspin is a Swedish game studio based in Stockholm, known for its creative, high-quality video slot games. Since its founding, the company has developed more than 20 popular titles, many of which are recognized for their engaging gameplay, strong visuals, and mobile-first design.
Quickspin’s games span multiple platforms, including:
- Online casino gaming
- Social gaming
- Real-money casino solutions
This cross-platform expertise makes Quickspin a valuable addition to Playtech’s already extensive distribution network.
Strategic Timing of the Acquisition
Strengthening Playtech’s Market Position
The acquisition agreement was finalized on 24 May 2016, following extended negotiations between the two companies. Playtech had previously shown interest in expanding through acquisitions and earlier attempted to purchase OpenBet, a deal that ultimately went to NYX Gaming Group for £270 million.
By securing Quickspin instead, Playtech gained a well-established slot developer without overextending financially, while still enhancing its premium content offering.
Leadership and Integration Plans
Quickspin Founders Remain Onboard
As part of the agreement, Quickspin’s three founders — Mat Westerlund, Joachim Timmermans, and Daniel Lindberg — committed to remaining with the company for at least three years. This ensures continuity in game development, creative direction, and brand identity.
Playtech CEO Mor Weizer praised Quickspin as a developer of top-tier gaming products and emphasized that the goal is to allow the Quickspin brand to continue thriving independently while benefiting from Playtech’s global distribution channels.
What the Deal Means for Players and Operators
The acquisition enables Playtech to distribute Quickspin’s already successful slot titles across its vast operator network, improving content variety and overall game quality. For players, this means access to more innovative slots, while operators benefit from proven, market-tested games with strong player appeal.
Final Thoughts
The €50 million acquisition of Quickspin represents a strategic and forward-looking move by Playtech. By combining Playtech’s scale and distribution power with Quickspin’s creativity and innovation, both companies are well-positioned to capitalize on the continued growth of the global iGaming industry.
