Greentube, a casino game developer, announced it acquired a majority shareholding in the Malta-based iGaming management system platform and software provider Alteatec. The company said the deal will add to its B2B offerings.
The Vienna-based online gaming specialist Greentube – a Novomatic Digital Gaming and Entertainment division – did not release the financial details about the Alteatec matter.
Greentube’s announcement said the acquisition will strengthen Greentube’s B2B offerings by utilizing Alteatec’s “leading” iGaming software, including its Olympus One technology. Olympus One has seen tremendous growth in many markets across Europe, Asia, and Africa due to its highly-rated iGaming platform with a powerful Remote Gaming Server and Safe Server.
Greentube CEO Thomas Graf and COO Georg Gubo will become managing directors at Alteatec “alongside” MD Christian Sael, Greentube said on Jan. 17.
I am delighted to start 2023 in such momentous fashion. Alteatec is a market leader in iGaming technology, and being able to utilize its talent and experienced team is going to be game-changing for Greentube going forward.
Greentube is a company that needs no introduction. So to become part of that storied brand truly is an honor. We’re all incredibly excited about this partnership, and we can’t wait to get to work, delivering all the services we’re recognized for to help the company grow.
Greentube Is New to the US, But Experienced Overseas
The company was founded in 1998. Initially, Greentube developed classic card games into multiplayer games. Later, it found success with its Ski Challenge game, and in 2010, it became part of Novomatic, an Austria-based gaming company.
Since 2010, Greentube has shifted its focus to the gambling industry. The company develops and offers slots, table games, social casinos, and more.
Some of the most popular online slots by Greentube are:
- Diamond Cash slots
- Apollo God of the Sun
- From Dusk Till Dawn
- Great Emperor
Players can find them in some of the top online casinos, both in Europe and the US.
While it has a long history in Europe, Greentube is one of the newer game developers in the US. The company entered the US market in New Jersey in 2021. Since then, it has expanded its footprint past the Garden State, thanks to its partnership with BetMGM Casino.
Last fall, Greentube entered Michigan, its second state, through the BetMGM partnership.
It’s planning further expansion.
What Will Greentube Gain From Alteatec?
Meanwhile, Alteatec is an IT Company established in 2001. It’s a worldwide supplier of iGaming solutions and software. Alteatec also offers software for mobile gaming, cybersecurity, affiliate management, and more.
The Greentube and Alteatec deal comes a few months after another US transaction.
Greentube acquired Present Creative, a San Francisco-headquartered art, game development, and production solution studio, establishing the first development team based in the US. Greentube will also add Present Creative’s games to its portfolio.
Both deals will expand Greentube’s presence in the US and allow it to bring more B2B offerings to its casino partners.
What Can We Expect From Greentube in the Future?
Greentube has been primarily focused on online slots, but the Alteatec merger will open new doors for the developer.
1. Improved Casino Management Platform
Alteatec has established itself as a leading software and casino management platform provider. It has also developed other vital features, including a state-of-the-art Safe Server. By gaining access to that technology, Greentube can implement it, improve its products, and add new products.
2. Live Dealer Games
One of the main goals of Greentube in the merger is to enhance and improve its portfolio. The developer already offers table games such as blackjack, roulette, and baccarat. Adding Alteatec’s live dealer and voiceover technology will be the next step in the company’s growth and path to establishing itself as a gaming leader.
It will likely take some time, as Greentube will need to establish a new development studio for its live dealer games. Alternatively, it might turn to the Present Creative development team.
The potential live dealer game development can bring competition to Evolution, the US online casino industry leader in live dealer products and services, and Playtech.
Plus, players will be able to see more options and games.
3. Continued US Expansion
Alteatec’s management system is already set up in several jurisdictions, including US jurisdictions. That may fast-forward some of Greentube’s plans for further expansion and offerings in more states.
Olympus One will also allow Greentube to enter land-based casinos as it does not operate over a cloud. Alteatec’s Landbased Connection and Partner modules allow a connection between online servers and brick-and-mortar casinos. That might play a role in entering newly established US markets, as many states require online casinos to develop connections with land-based casinos.
Looking beyond the Alteatec deal, using Present Creative’s portfolio of games for younger generations will put Greentube in a prime position to create further relationships with online casinos looking for new and unique games to attract new customers.