Lisa Michaels
Microgaming is offloading its Quickfire distribution subsidiary along with its catalog of iGaming content to newcomer, Games Global Limited.
Both parties have agreed to the terms of the sale in principle, pending Games Global’s acquisition of the necessary regulatory approvals. At this point, the deal is expected to be concluded by Q2 2022.
As per the deal, Games Global will gain control of a list of games studios in multiple markets. Once the transaction is wrapped up the purchaser stands to benefit handsomely as it will have in its possession, regulation-ready assets across many lucrative jurisdictions.
Included in Quickfire’s assets are 25 studios and over 3,000 games, as well as the studio’s distribution and progressive jackpot network systems that are currently employed by 260 customers and 980 brands.
Games Global Limited is a fresh face on the iGaming scene, having only opened its doors in early 2021. The privately-backed firm’s CEO is Walter Bugno, previously of IGT and Lottomatica, and its CFO is Tim Mickley, formerly of SafeCharge and Playtech
Bungo commented on the new development, saying,
“We see a very vibrant gaming market at present across the world, with many new regulated markets coming online. The creation of a new large-scale independent supply chain that Games Global will be has not been witnessed for many years.”
Microgaming’s CEO, John Coleman expressed satisfaction that the exhaustive process had produced a mutually-beneficial result, saying,
“Games Global will acquire the game IP and distribution business previously known as Quickfire, and Microgaming will continue to support its traditional core business while increasing its reach with the addition of new business and managed services.”
This statement may be one of the last you see from Coleman in Microgaming’s stead as the CEO is stepping down from this role at the company at the end of 2021. He was appointed to the position in June 2018, following a 14-year stint as the organization’s CFO. Under Coleman’s leadership, the company has made great strategic strides towards achieving its vision and greatly diversified its product offering.
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