Quickfire has been sold by Microgaming to Games Global Limited. The closing of the deal was officially announced by the gaming software company in May 2022, several months after the sale was first announced in November 2021.
As a result of the acquisition, Games Global became the new owner of game studios in North America, South America, and Europe. The terms of the transaction also made Games Global the new owner of a large catalog of gaming content as well as a large network of clients with over 900 gaming brands operating in various countries around the world.
In the deal, which was completed expeditiously this year, Microgaming agreed to sell the entire Quickfire portfolio, including its progressive jackpot titles. Quickfire was one of its oldest businesses and one of the first gaming content aggregators.
The sale of Quickfire heralds the start of a new era marked by a clear divide between the operators who control specific iGaming assets. The majority of iGaming companies operate primarily through consolidation. Instead of strengthening all of its revenue streams at the same time, Microgaming is paving the way for individual revenue stream’s rapid rise. Games Global's rapid growth means that it will have approximately 1100 employees working in Europe, South Africa, Oceania, and the Americas.
Despite the shift, Games Global will continue to be a client of Microgaming, which has shifted its primary focus to providing platform services and systems to online gaming companies. Microgaming, a British gambling software company, will also continue to invest in technology and will continue to do business with Betway, a sports betting company.
The deal between Microgaming and Games Global is one of many similar mergers and acquisitions taking place in the gaming industry right now. Because of the increasing attractiveness of the current digital gaming landscape for such transactions, both small and large players have remained active in M&A. Analysts predict that iGaming revenue will reach $14 billion by 2033. Its potential will continually drive mergers and acquisitions among companies as they seek to capitalize on the industry's rapidly expanding opportunities.
Games Global, founded in 2021, sells content to gaming companies operating in internationally regulated markets. The company has grown rapidly in popularity owing to its leaders' hard work and gaming industry experience.
Walter Bugno, the current CEO of Games Global, previously worked for Lottomatica and IGT. Tim Mickley, the company's Chief Financial Officer, previously worked at Playtech and SafeCharge. Since the company's inception last year, the two leaders have catapulted it to the international level at which it now operates. Acquiring Quickfire is expected to propel the company even further into the ranks of iGaming behemoths in the near future.
Microgaming CEO Andrew Clucas expressed surprise at the rapid growth of Games Global. In a recent press release, Clucas praised Games Global and Microgaming for their commitment to closing the business deal within a few months. He was pleased that the two companies had excellent teams that demonstrated the ability to strategically use the allocated resources. The efforts by both teams will tremendously multiply opportunities for the companies.
Walter Bugno was equally pleased with the transaction and the processes involved in its completion. In his speech, the CEO praised Games Global's establishment and expansion in the recently completed business transaction. The revered CEO praised the Quickfire acquisition as a chance to get a head start in the gaming industry. He explained that Games Global is a significant development in the gaming industry with a significant impact. He also lauded Microgaming for its iconic leadership and influence in the gaming industry. He wished Microgaming success in all of its future endeavors.
The completion of the transaction confirmed Games Global's commitment to growth. Another deal with an unnamed company is expected to be completed soon. The agreement will allow the company to move forward with its plans to establish game studios in various countries around the world. After the transaction is completed, Games Global will own nearly 3000 games and approximately 25 studios operating in various jurisdictions globally.
Games Global intends to capitalize on the thriving gaming market that is currently exploding in the majority of countries. Many new regulated markets are emerging globally, increasing the opportunities for growth for all gaming companies. Firms in the iGaming sector have a particularly large opportunity for expansion. Because iGaming is currently legal in fewer states, it attracts higher margins and may grow faster than sports betting. Its continued legalization could result in an astronomical increase over the next decade.
According to Bugno, Games Global is currently pursuing the goal of becoming the creator of an unrivaled large-scale supply chain. In a speech, Games Global's CEO explained the company's unwavering efforts to seize the tangible opportunities that are ripe for the taking. He reiterated the mission statement of Games Global, stating that its core objective is to motivate its employees to deliver the best breed of products that will ensure an enhanced end-user experience. Already, its employees are working on all of the necessary fronts to achieve this goal and reveal new opportunities.
Games Global's current and anticipated operations portend a bright future in the gaming industry. The rapidly growing company is expected to continue collaborating with Microgaming and other potential business partners in order to revolutionize the gaming industry and fully capitalize on the upcoming opportunities. If the companies continue down the same promising paths, they can look forward to a bright future.