Greentube has acquired a 40% stake in gaming studio Flamingocatz to create content in regulated North American markets.
Established in 2022, Flamingocatz aims to develop ‘disruptive’ slot titles to both North and South American markets using mathematics to fulfill its mission to ‘entertain’ users.
The two parties have struck a joint venture stemming from the minority stake purchase, in which Greentube will seek to utilize Flamingocatz’s local knowledge to elevate its North American expansion.
The firm has secured deals across North America in 2022, including with BetMGM in Michigan and New Jersey, with RIS in New Jersey, and with Entain in Ontario.
The Novomatic digital division also secured the acquisition of US studio Present Creative in October as it seeks to become a major player in US igaming.
Michael Bauer, CFO/CGO at Greentube, commented: “We remain committed to growing our presence in North America and through this joint venture with Flamingocatz, we will further strengthen our capabilities, working with a talented and very experienced team who sits on a lot of local knowledge.
“Having a laser focus on what local players desire is paramount to us and this partnership will help us execute our growth strategy in the US and Canada.”
Following the deal, both parties are in the development stage of a range of new titles set to be introduced in 2023 across North America and, eventually, in other jurisdictions where the studio is active.
Job Spiero, Co-Founder at Flamingocatz, added: “We are very excited to work on this new studio together with Greentube and we could not have hoped for a better partner to go into the Americas.
“With Greentube’s vast experience in distribution, placement, and marketing of games and Flamingocatz’s ‘outside of the box’ way of creating games, we have very high hopes for this partnership.”