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Microgaming

Microgaming was a pioneering privately held in the industry, founded in 1994 and headquartered in , best known for developing the world's first true software and establishing one of the largest portfolios of iGaming content. The company rapidly grew to power over 350 and 40 poker rooms worldwide, offering more than 800 titles including slots, table games, and lotteries, while pioneering networks that delivered record-breaking payouts, such as the Guinness World Record for the largest online slot win of £13.2 million from a 25p spin. Microgaming's innovations extended to mobile gaming, live dealer solutions, and sportsbook integrations, earning it numerous industry awards for technical excellence and player engagement over its three decades of operation. In May 2022, amid strategic restructuring, Microgaming sold its distribution business—known as Quickfire—and entire online games portfolio to Games Global Limited, allowing the latter to continue operating and expanding the Microgaming-branded game studio with over 1,300 titles and industry-leading jackpots. Following this divestiture, the core company rebranded as Apricot Investments in late 2024, marking its 30th anniversary by pivoting to focus on iGaming platform technology, products, and strategic investments, while maintaining commitments to regulatory compliance through licenses from authorities like the , UK Gambling Commission, and Swedish Gambling Authority.

History

Founding and Early Development

Microgaming was founded in 1994 by Martin Moshal, a South African entrepreneur and graduate, as a privately held company specializing in . Initially based in , , the company emerged during the early days of the commercial , with Moshal securing initial funding through a co-signed by business associate Roger Raatgever to launch operations. The company's primary focus from inception was creating the world's first fully functional software, a pioneering effort that aligned closely with the passage of the Antigua and Barbuda Free Trade and Processing Zone Act in 1994. This legislation legalized and regulated by allowing the issuance of licenses to operators, providing a crucial legal framework that facilitated the rapid emergence of the industry. Microgaming's software development capitalized on this opportunity, enabling the launch of The Gaming Club—the first —in 1994, initially targeted at the South African market under the domain casino.co.za. By 1995, the platform had expanded to full international operations, marking a significant milestone in digital gaming. Early development was marked by substantial challenges inherent to the era's technological limitations, including slow dial-up connections, low , and the absence of robust for online interactions. These constraints necessitated innovative approaches, such as manual that persisted until at least 1997, while funding hurdles arose from Moshal's limited credit history. To address regulatory needs and benefit from a supportive environment for e-gaming—characterized by low taxes, stable oversight, and streamlined licensing—Microgaming relocated its headquarters to , in April 2001, solidifying its position as a global player.

Growth and Key Milestones

In the early , Microgaming expanded its offerings beyond casino software by launching the Microgaming Poker Network (MPN), originally known as Prima Poker, in 2003; this network quickly grew into one of the largest platforms, supporting multiple "" sites and attracting a global player base through shared liquidity and tournaments. A pivotal advancement came in 2004 when Microgaming introduced the first mobile casino software, adapting its platform for early smartphones and enabling on-the-go gaming, which anticipated the rise of mobile gambling and broadened accessibility for users. By the mid-2010s, Microgaming had developed over 800 games, encompassing a diverse range of slots, table games, and poker variants, while integrating its software with more than 100 online casinos worldwide; this period also saw the company grow to over 200 employees, supporting its scaling operations from its Isle of Man headquarters. Key milestones underscored Microgaming's innovation during this era, including the 2015 Guinness World Records announcement recognizing its Mega Moolah slot for the largest online jackpot payout to date, and the 2016 launch of VR Roulette in collaboration with , which immersed players in a virtual casino environment and earned industry acclaim for technological advancement.

Rebranding and Recent Changes

In May , Microgaming completed the sale of its Quickfire distribution business and online games portfolio to Games Global Limited, allowing the company to streamline its operations and refocus its core competencies. Following this divestiture, Microgaming shifted its emphasis to B2B platform services, including licensing agreements and support for online gaming operators. This transition enabled the company to handle over 38 million bets per day across its integrated systems, prioritizing scalable infrastructure for global iGaming delivery. In 2018, the company changed its legal name to Investments. In late 2024, to mark its 30th anniversary since its founding in , Investments announced a strategic brand refresh for Microgaming, including a visual identity update. The full transition to the refreshed branding occurred by early 2025. As Investments, the company deepened its focus on AI-driven innovations, such as detection and , while strengthening partnerships and integrations to serve more than 350 operators worldwide. As of November 2025, Apricot Investments operates as a privately held entity dedicated to providing robust and platforms, eschewing direct game creation in favor of backend technology and compliance solutions that support responsible gaming across regulated markets. This strategic pivot underscores a commitment to agility and innovation, positioning the company to address evolving industry demands for secure, integrated B2B services.

Products and Services

Casino Software Platforms

Microgaming, founded in 1994 as a pioneer in software, initially provided standalone systems for operators, enabling the launch of the world's first . Over the years, the company evolved its offerings into modular B2B platforms to support scalable operations, culminating in a strategic rebrand to Investments in 2024 following the 2022 sale of its Quickfire distribution business and game portfolio to Games Global. This shift allowed to concentrate exclusively on backend infrastructure, delivering robust and sportsbook platforms tailored for operators worldwide. A key milestone in this evolution was the launch of the Quickfire platform in 2010, which facilitated seamless game integration and multi-vendor content aggregation for operator sites. Quickfire enabled third-party providers to distribute content through a single , simplifying backend management and supporting rapid market entry for operators by aggregating games from multiple studios into unified libraries. Although sold in 2022, Quickfire's legacy influenced Apricot's current emphasis on efficient, operator-centric systems. As of 2025, Apricot's core offerings include advanced platforms and products designed for high-volume processing, handling over 210 million bets per day across . These platforms feature comprehensive integrations for payments, bonuses, and player management, allowing operators to customize workflows and ensure seamless transactions in multiple currencies. The component specifically processes more than 38 million bets daily. Apricot platforms emphasize scalability and flexibility, with customizable white-label solutions that enable operators to launch branded sites quickly without building from scratch. Built-in affiliate tracking tools monitor performance and commissions in , fostering growth through partner ecosystems. This infrastructure supports peak loads, as demonstrated by post-2022 capacities exceeding 210 million bets per day during high-demand periods, ensuring reliability for large-scale deployments.

Game Portfolio and Offerings

Microgaming's historical game portfolio encompassed over 1,300 titles, spanning a diverse array of designed for online play. This included a robust selection of slots, such as 3-reel classic machines evoking traditional fruit machines, 5-reel video slots with immersive themes and bonus features, and networks that linked multiple games for escalating prizes. games formed another cornerstone, featuring variants like European , Atlantic City , European , American , , and options including Jacks or Better and . In the , Microgaming expanded into through strategic partnerships with entities, introducing slots inspired by popular properties. Notable examples include , based on the Universal Pictures film franchise, and , drawing from the series, which incorporated thematic elements like character symbols and storyline-driven bonuses to enhance player engagement. These titles exemplified Microgaming's approach to blending licensed with interactive gameplay mechanics. The portfolio's games typically offered return-to-player (RTP) rates ranging from 90% to 98%, with many slots averaging around 96% and certain table games exceeding 99% for variants like . From the early onward, Microgaming optimized its offerings for mobile devices using technology, enabling seamless cross-platform compatibility without requiring downloads. Following the divestiture of its online games portfolio and distribution business to Games Global, Microgaming's legacy titles continue to be managed and distributed by the new entity, with the portfolio now including over 1,300 exclusive titles and aggregation enabling access to thousands more from partner studios, preserving access to the extensive catalog for operators and players worldwide.

Technology and Innovations

Core Technological Features

Microgaming pioneered the development of the first true random number generator (RNG) for s in 1994, a foundational technology that generates unpredictable outcomes to ensure fair gameplay across slots, table games, and other offerings. This RNG formed the core of their inaugural software, setting industry standards for and reliability by leveraging algorithmic processes certified for . During the 2010s, Microgaming transitioned to technology, enabling seamless cross-device compatibility for desktop, mobile, and tablet platforms without reliance on . This adoption, beginning around 2012 with launches like Agent Jane Blonde and in their Microgaming Go portfolio, improved accessibility and performance, allowing games to run natively in modern browsers. In 2016, Microgaming advanced immersive experiences through virtual reality (VR) integration, partnering with for VR Roulette, which transported players to a surreal environment using headset and motion controls. This innovation earned recognition for its pioneering use of in , blending real-time interaction with 360-degree visuals. Microgaming incorporated three-dimensional graphics and animations in various slot titles to enhance visual engagement. Microgaming's scalable server architecture underpinned its global operations through the Quickfire , which handled high-traffic volumes via efficient load balancing and single-API for operators worldwide. This design supported simultaneous access by thousands of users, ensuring low latency and reliability during peak periods without compromising . Quickfire was sold to Games Global in 2022. Following the to Investments in 2024, the company has focused on its , emphasizing mobile-first gaming and solutions, such as a for handling 210 million bets daily across 70+ currencies as of 2025. Recent innovations include AI-driven features for real-time fraud detection, player behavior analysis, and personalized recommendations, as well as applications for secure player verification, instant payments, and .

Security and Fair Play Measures

Microgaming was a founding member of eCOGRA in 2003, an independent testing agency dedicated to auditing random number generators (RNGs) for fairness and verifying payout percentages in operations. This affiliation underscores the company's commitment to transparent and equitable gameplay, with eCOGRA conducting ongoing evaluations to confirm compliance with industry standards for RNG integrity and player . The company adheres to rigorous regulatory frameworks enforced by key jurisdictions, including the Isle of Man Gambling Supervision Commission, where it is headquartered and licensed, as well as the UK Gambling Commission and the . These licenses mandate adherence to protocols for secure operations, anti-money laundering measures, and player fund segregation, ensuring that Apricot Investments-powered platforms operate within legally binding ethical guidelines. Data security is prioritized through the use of SSL encryption on all platforms, safeguarding sensitive player information during transactions and interactions. Complementing this, Microgaming integrates responsible gaming features into its software, such as customizable deposit limits and options, allowing players to manage their activity and seek support through integrated tools and partnerships with organizations like GamCare. Prior to the 2022 divestiture of its game portfolio and distribution business to Games Global, all Microgaming titles underwent mandatory certification for fairness by independent laboratories, including iTech Labs and Gaming Laboratories International (). These audits verify RNG and , with certifications ensuring unbiased outcomes across slots, table games, and progressive jackpots. As of August 2025, Apricot Investments achieved ISO 27001: certification for .

Achievements and Impact

Record Jackpots and Payouts

Microgaming pioneered one of the first networked systems in the online gaming industry, launching with the Cash Splash in 1998, which pooled contributions from players across multiple casinos to build escalating prize pools. This system enabled the creation of life-changing payouts by aggregating small percentages of bets into shared jackpots, setting a standard for scalability in digital gambling. A landmark achievement came in May 2009, when a Greek player named Georgios M. won €6.3 million (approximately $6.37 million) on the Mega Moolah progressive slot, marking the largest online jackpot payout at the time. This win highlighted the potential of Microgaming's network to deliver unprecedented sums through its interconnected casino partnerships. The system's capacity was further demonstrated on October 6, 2015, when British player Jon Heywood secured £13,209,300 (equivalent to €17.9 million) on Mega Moolah at Betway Casino, earning recognition from Guinness World Records as the largest jackpot ever paid out in an online slot machine game. In the 2010s, Microgaming's progressives continued to yield major victories, including an anonymous player's €18.9 million win on Mega Moolah in September 2018, which briefly surpassed the 2015 record and underscored the network's ongoing growth. Multiple other multimillion-euro payouts occurred during this decade, reinforcing the reliability and appeal of titles like Mega Moolah within Microgaming's portfolio. By 2020, the progressive network had created approximately 80 millionaires worldwide and distributed total payouts exceeding €1.2 billion. Following the 2022 divestiture to Games Global, which continues operating the Microgaming-branded portfolio, the network has paid out over €2 billion in total as of 2024 and created more than 100 millionaires overall, with notable wins including €19.4 million in April 2021 and €7.3 million in February 2022. This enduring system illustrates its profound economic impact on players and the iGaming sector.

Industry Recognition and Awards

Microgaming has received numerous accolades from prominent industry bodies, particularly through the EGR B2B Awards, where it secured multiple wins in the and beyond. In 2010, the company was named RNG Casino Supplier of the Year, recognizing its reliable technology for fair . The following year, Microgaming earned the Innovation in Slot Provision award for its groundbreaking slot developments, including the iconic title Mega Moolah. This momentum continued with the Platform of the Year honor in 2020, highlighting the robustness and of its Quickfire platform for operators. In addition to EGR recognition, Microgaming has been celebrated at the Global Gaming Awards for its contributions to digital gaming excellence during the . The company won Digital Product of the Year in 2014 for its Terminator 2 slot adaptation, praised for innovative features tied to progressive elements, and repeated the feat in 2015 with , further solidifying its leadership in high-impact slot innovations. Complementing these, Microgaming received the Mobile Product award at the 2017 International Gaming Awards, acknowledging its early advancements in mobile-optimized gaming that enhanced accessibility and player engagement. As a trailblazer in the iGaming sector since 1994, Microgaming marked its 30th anniversary in 2024 with widespread acknowledgment of its pioneering role, including strategic evolutions that continue to influence the landscape. This enduring legacy is evident in its establishment of industry benchmarks for software, such as networked progressive jackpots that have inspired competitors like and NetEnt to adopt similar scalable, high-stakes mechanics.

Business Operations

Leadership and Organization

Microgaming was founded in 1994 by Martin Moshal, a South African software engineer who developed the world's first software and subsequently stepped down from active involvement in the company's early years. As of 2025, the company operates under the leadership of CEO Stephen Fisk, who assumed the role in May 2023 following his tenure as chief operating officer since 2018; Fisk previously held senior positions at and continues to guide the firm as part of Investments, the rebranded entity established in late 2024 to emphasize platform and technology services. Microgaming remains a with over 200 employees, maintaining a B2B focus post-2022 divestiture of its game content and distribution assets to Games Global, which streamlined operations around core delivery. The organizational structure includes dedicated divisions for development, , and , supporting a leaner model oriented toward technological innovation and client services in the iGaming sector. The company culture emphasizes innovation through initiatives like the , an internal process for employee-driven idea submission and development, alongside a commitment to and evidenced by its 2018 participation in the All-In Diversity Project to enhance workplace representation. Teams in and reflect this focus, fostering cross-functional collaboration to advance compliant, cutting-edge iGaming solutions.

Partnerships and Market Presence

Apricot Investments, following its late rebranding from Microgaming, maintains extensive partnerships with over 350 gaming operators worldwide, enabling seamless integration of its platform software for and operations. Notable historical collaborations include content distribution agreements with major operators such as and 888 Casino prior to the 2022 divestiture, which continue to leverage Apricot's underlying technology for enhanced player experiences. Additionally, Apricot has forged content deals with independent studios like Triple Edge Studios, which developed exclusive titles integrated into Microgaming's ecosystem before the portfolio transfer. The company's market presence is particularly strong in regulated European markets, including the , , , , and , where it holds licenses from authoritative bodies such as the , , and Swedish Gambling Authority. In , has expanded into , , supporting post-legalization growth in the region, while maintaining a footprint in other global jurisdictions like to ensure compliance and accessibility. Although less emphasized in recent expansions, its supports operations in through partnerships with licensed operators in regulated environments. Overall, is licensed in more than 20 jurisdictions, prioritizing secure and responsible gaming in established markets. The 2022 divestiture of Microgaming's Quickfire distribution business and online games portfolio to Games Global marked a strategic pivot, allowing to concentrate on platform licensing and backend services while Games Global handles content aggregation. This shift has sustained Apricot's role in processing bets for major networks, including those powered by Games Global, ensuring continuity for existing operator partners without disrupting service delivery. Apricot's global reach underscores its industry leadership, with its platform software facilitating over 210 million bets daily across regulated markets worldwide, emphasizing scalability and reliability for international operators. Post-rebrand, the focus remains on expanding in compliant regions to support responsible gaming and technological innovation.

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