Isle of Man – Microgaming agrees to sell Quickfire distribution business and games portfolio to private capital company led by Walter BugnoBy William - 15 November 2021
Games Global has agreed in principle the purchase of Microgaming’s Quickfire distribution business, portfolio of online gaming content and progressive jackpot network.
Established in early 2021, Games Global is a newly formed private capital backed company led by CEO, Walter Bugno, formerly of IGT and Lottomatica and CFO, Tim Mickley, previously of SafeCharge and Playtech.
In parallel with the Microgaming acquisition, Games Global has also reached agreements with a number of parties to acquire interests in and develop a portfolio of game studios located across multiple geographies.
The Microgaming acquisition and studio acquisitions, which remain subject to Games Global receiving certain regulatory approvals, are expected to complete in Q2 2022.
Following the sale, Microgaming will continue to supply certain customers with its turnkey games platform, as well as focus on the further development and licensing of its sports betting technology.
Following completion of the acquisitions, Games Global will become a supplier of iGaming content controlling a portfolio of more than 25 studios, a proprietary catalogue comprising upward of 3,000 games, a progressive jackpot network and distribution with access to over 260 existing customers operating more than 980 gaming brands.
The group will employ in excess of 1,100 experienced staff based across Europe, North and South America, Oceania, and South Africa.
“We are seeing a very vibrant gaming market at present across the world, with many new regulated markets coming online,” commented Walter Bugno, CEO of Games Global. “The creation of a new large-scale independent supply chain that Games Global will be, has not been witnessed for many years.
“We are committed to delivering a world-class best-of-breed product and services offering that will ultimately enhance the end user’s gaming experience and help drive our customers’ businesses. We are extremely excited about the opportunities ahead and will work tirelessly to achieve the significant opportunities in front of us.”
The news came shortly after it was announced that John Coleman will be stepping down from his role as Microgaming CEO at the end of this year and will be replaced by current COO, Andrew Clucas.
John Coleman commented on the sale: “This is an exciting deal that has been in the making for some time which will provide new growth and opportunity for both Microgaming and Games Global. We are making the announcement now to provide sufficient notice and clarity for our partners and stakeholders.”
John was appointed CEO of Microgaming in June 2018, having served as CFO for nearly 14 years. Andrew joined Microgaming in 2009 following a successful career in the Royal Air Force. Rising through the ranks at Microgaming, he headed up various operational areas of the business, including business development and sales, before being appointed chief operating officer in January 2018.
“I am honoured to have led Microgaming as CEO – such an incredible business and people. After 17 years at the company, this is a natural time for me personally to embark on the next adventure,” commented John on his pending departure.
“Microgaming has a strong leadership structure in place and an exciting future ahead, and I am delighted to announce Andrew Clucas as my successor. Andy is a brilliant colleague, friend and leader, and I have every confidence that he will steer Microgaming to new success.”
Andrew Clucas added: “John has been an outstanding leader and ambassador of the business for almost two decades, and I cannot praise him highly enough for his many achievements and contributions.
“I am delighted to be picking up the mantle from him – being appointed CEO of Microgaming is an incredible honour, and I intend to lead the business with the very same passion and commitment.”