Ruby Play
RubyPlay is a Malta-based B2B iGaming content studio that designs, develops, and licenses video slot games to online casino operators through a studio-based layered content ecosystem, serving regulated markets in Europe and North America via partnerships and exclusive co-developed titles.
- Company typePrivate
- Founded2018
- HeadquartersValletta, Malta
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Ruby Play does
RubyPlay is a privately held B2B iGaming content studio incorporated in Malta and founded in 2018, employing 51-100 people. The company designs and develops video slot games that it licenses to online casino operators under a studio-based layered content ecosystem model, in which independent studios (including its subsidiary Koala Games) produce content that is distributed through shared technology and distribution infrastructure. Its portfolio spans ten registered trademarked game franchises, including Immortal Ways, Mad Hit, Diamond Explosion, J Mania, Go High, Rush Fever, Giga Match, Stampede Rush, Ten Ton Ways, and Fu Double Luck, with mechanics such as Link It Up Explosion, Jackpot Pick Deluxe, Explosion Free Games, Mad Hit Instant Pay, and Buy Feature, offered across 5-reel configurations ranging from 50 lines to 10,000 ways.
The company operates a B2B content licensing revenue model, generating revenue through game supply agreements and royalties negotiated on a case-by-case basis with iGaming operators in regulated markets. It holds a Malta Gaming Authority B2B Critical Gaming Supply License (MGA/B2B/826/2020) for Type 1 gaming services and a Romania ONJN Class II license. Distribution is achieved exclusively through operator partnerships, with named integrations including Relax Gaming, BetConstruct, Codere Online, NorthStar Gaming, Gaming1, Betano, and Dafabet, alongside eleven Italian operators (Microgame, Snaithin, GBO Italy, Eurobet, StarCasinò, Betsson Italy, Sisal, AdmiralBet, StarVegas, BetFlag). The company also produces bespoke co-developed titles for selected partners, such as Immortal Ways Betano and Stampede Rush Mighty Chang.
RubyPlay is currently pursuing a multi-jurisdiction regulated market expansion strategy, with recent market entries in Ontario (December 2025, via NorthStar Gaming), Mexico (March 2026, via Codere Online as part of a stated LATAM strategy), and New Jersey (June 2026, via Fanatics Casino). Its go-to-market combines channel partnerships with aggregator platforms such as Relax Gaming and BetConstruct, direct enterprise field sales into tier-one operators, and exclusive co-development for major brands. The company has won multiple industry awards including FTN Game of the Year at Casino Beats 2024, Best Online Casino Game at B.F.T.H. Arena Awards 2023, and Slot Supplier of the Year at iGaming Sword Award 2023. No funding rounds, parent company, or institutional investment have been disclosed in the available data.
Ruby Play firmographics
Firmographics- Name
- Ruby Play
- Legal name
- RubyPlay
- Website
- https://rubyplay.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- RubyPlay is a Malta-based B2B iGaming content studio that designs, develops, and licenses video slot games to online casino operators through a studio-based layered content ecosystem, serving regulated markets in Europe and North America via partnerships and exclusive co-developed titles.
- Ownership category
- akta.pro rank
Ruby Play industry classification
Industry- Product category
- Online Casino Game Content
- NAICS
- Doll, Toy, and Game Manufacturing (339930), Gambling Industries (7132), Hobby, Toy, and Game Retailers (45912)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944)
- akta.pro primary industry
- Online Casino Studios & Game Publishers (Slots, RNG, Live Dealer) (MPAEABAJ)
- akta.pro secondary industry
- Web3/Blockchain Game Studios (MPAFAAAO)
Keywords
Where Ruby Play is headquartered
LocationHeadquarters
- HQ city
- Valletta
- HQ country
- Malta
- HQ region
- Europe
Offices1 record
Markets served
Ruby Play business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Others
Revenue model
- B2B Game Licensing: RubyPlay operates as a studio-based B2B iGaming content ecosystem, licensing their slot game portfolio to online casino operators. Revenue is generated through game supply agreements with operators in regulated markets.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Ruby Play product offering
Product offeringCore offering
RubyPlay designs, develops and licenses a portfolio of proprietary video slot games to online casino operators under a B2B content model. Its games are organized into named, trademarked series (Immortal Ways, Diamond Explosion, Mad Hit, J Mania, Go High, Rush Fever, Giga Match, Stampede Rush, Ten Ton Ways) and distributed via direct operator integrations, aggregation platforms and its subsidiary studio Koala Games in regulated markets worldwide.
Product overview
RubyPlay is a studio-based B2B iGaming content ecosystem that designs and develops innovative video slot games. The company operates multiple distinct game series including Immortal Ways (jackpot collection mechanics), Diamond Explosion (Link It Up Explosion features), Mad Hit (instant prize mechanics), J Mania (prize collection/egg hunts), Go High (climbing mechanics), Rush Fever (consecutive symbol awards), and Stampede Rush (respin/stampede mechanics). The portfolio spans diverse themes from Greek mythology and classic fruit to regional themes like Thai elephant. RubyPlay's ecosystem model supports independent studios including its subsidiary Koala Games, all powered by shared technology and distribution infrastructure. Games are available across multiple regulated markets including LATAM, Europe, and North America.
Differentiator
Problem solved
Functional benefit
Brands
- Koala Games: Subsidiary game development studio that creates casino game titles as part of the RubyPlay ecosystem.
Products and services
- Immortal Ways game series Flagship B2B slot game series featuring the Immortal Ways mechanic with multiple ways-to-win configurations, collect mechanics, jackpots and themed bonus features spanning Greek mythology, romance, gems, seasonal, classic 7s and other themes. Licensed to online casino operators.
- Diamond Explosion game series High-energy slot game series featuring the Link It Up Explosion mechanic with diamond symbols merging for bigger payouts, Jackpot Pick Deluxe and Free Games features across themes including classic 7s, candy, Valentine's and regional themes. Licensed to online casino operators.
- Mad Hit game series Slot game series characterized by the Mad Hit Instant Pay mechanic that combines with Wilds and Prize symbols to deliver instant wins, Mad Hit Saver position-rollback feature and a Buy Feature option. Licensed to online casino operators.
- J Mania game series Slot game series featuring prize collection mechanics and respins with a 15-Prize screen-fill Grand jackpot trigger, including egg hunt and sports-themed variants. Licensed to online casino operators.
- Go High game series Slot game series featuring climbing/ascending mechanics across safari, panda, fruit, Olympus and other themes. Licensed to online casino operators.
- Rush Fever game series Slot game series featuring the Rush Fever symbol mechanic with consecutive symbol awards, double jackpot enhancements and deluxe Free Games variants. Licensed to online casino operators.
- Giga Match game series Slot game series using the Giga Match mechanic across themes including Mahjong, Egypt, fruits, sugar skulls and seasonal variants. Licensed to online casino operators.
- Stampede Rush game series Slot game series featuring stampede and respin mechanics with jackpot pick features, including titles created exclusively for partners such as Dafabet (Stampede Rush Mighty Chang). Licensed to online casino operators.
- Ten Ton Ways game series Slot game series featuring the Ten Ton Ways ways-to-win mechanic, including titles such as Ten Ton Ways Odin's Gifts and Ten Ton Ways Stampede. Licensed to online casino operators.
- Koala Games subsidiary studio content Wholly-owned subsidiary game development studio within the RubyPlay ecosystem contributing titles such as J Mania Loco Habanero, Grand Express Diamond Class and Voltage Blitz, distributed through the RubyPlay integration network.
- Exclusive branded slot titles Custom slot games co-developed for individual operator partners, including Diamond Explosion Candy for Gaming1, Immortal Ways Betano (soccer-themed, 10,000 ways) for Betano and Stampede Rush Mighty Chang (Thai elephant-themed) for Dafabet. Licensed exclusively to the commissioning operator.
Quantifiable outcome
- Multiple proprietary game mechanics (Link It Up Explosion, Jackpot Pick Deluxe, Explosion Free Games) designed to increase player engagement and retention
Companies that use Ruby Play
Customer profileNamed customers7 records
Segments1 record
Ideal customer profiles1 record
Ruby Play technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
Ruby Play partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Codere OnlinecoreRubyPlay partnered with Codere Online (Nasdaq: CDRO), a leading NASDAQ-listed digital sports betting and casino operator, to integrate RubyPlay's casino game titles into Codere Online's Mexican platform. The deal includes popular titles from RubyPlay and its subsidiary studio Koala Games, such as J Mania Loco Habanero, Grand Express Diamond Class, and Voltage Blitz titles. This collaboration is part of RubyPlay's broader LATAM expansion strategy.
- NorthStar GamingcoreRubyPlay expanded its presence in Ontario through integration with NorthStar Gaming, providing casino game content for the regulated Canadian market.
- Italian Operators (11 total)coreRubyPlay has established partnerships with eleven Italian operators including Microgame, Snaitech, GBO Italy, Eurobet, StarCasinò, Betsson Italy, Sisal, AdmiralBet, StarVegas, and BetFlag. Italy represents a key growth market within RubyPlay's regulated markets strategy.
- Koala GamescoreKoala Games is a subsidiary studio of RubyPlay that contributes to the game content ecosystem, with titles like J Mania Loco Habanero integrated into operator platforms.
- Relax GamingcoreThe RubyPlay partnership has grown to become an important one for Relax Gaming, continuously offering RubyPlay content to their growing network of operators and markets. RubyPlay has seen the team develop from strength to strength both commercially and technically.
- BetConstructcoreCollaboration with RubyPlay is cited as one of the greatest examples of partnerships that elevate the entire iGaming experience. RubyPlay's innovative solutions and award-winning games have captivated players and redefined engagement metrics on BetConstruct platforms. RubyPlay's Immortal Ways Mr. First won Best FTN Game in B.F.T.H. Arena Best FTN Game Awards.
- Gaming1minorDiamond Explosion Candy was created exclusively for Gaming1, demonstrating custom game development capabilities.
- BetanominorImmortal Ways Betano was created exclusively for Betano, featuring soccer-themed content with 10,000 ways to win and thrilling Wheel spins.
- DafabetminorStampede Rush Mighty Chang was created exclusively for Dafabet, featuring Thai elephant-themed slot content with 50 lines.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Ruby Play competitors and assessment
Company assessmentDirect peers
- Push Gaming: B2B slot content provider with a focused portfolio of high-engagement mechanics and strong UK/European operator distribution. Direct peer competing for similar operator relationships and player mindshare.
- Pragmatic Play: Largest independent iGaming content supplier offering slots, live casino, and bingo to online operators globally. Direct competitor in the B2B slot-studio segment, serving the same operator customer base across regulated markets.
- Hacksaw Gaming: B2B mobile-first slot and instant-win game studio with a similar focus on innovative mechanics and multi-jurisdictional expansion. Comparable in scale and operating model to RubyPlay as a mid-tier slot supplier.
- Playson: B2B slot and casino content supplier with European roots and multi-jurisdictional regulated-market footprint. Comparable in scale, distribution model, and content focus to RubyPlay.
- Nolimit City: Slot studio famous for high-volatility, mechanic-driven games distributed via aggregators in regulated markets. Direct peer operating in the same B2B slot supplier category with comparable multi-jurisdictional ambitions.
- Play'n GO: Swedish B2B slot and casino content studio with broad regulated-market distribution. Direct peer competing for the same online casino operator integrations and player engagement with branded slot franchises.
- ELK Studios: Sweden-based B2B slot studio known for proprietary mechanics (e.g., Avalanche) and a focused portfolio similar in scope to RubyPlay's. Direct peer in the mid-tier slot-studio segment targeting European operators.
- Yggdrasil Gaming: iGaming content publisher with proprietary slot mechanics (GEMs, Splitz) and a franchise-based portfolio distributed globally. Directly comparable B2B slot supplier operating across European and emerging regulated markets.
Broad incumbents
- Evolution (NetEnt/Red Tiger): Largest iGaming content group spanning live casino, slots (NetEnt, Red Tiger), and other verticals. Broad incumbent with overlapping slot offerings; competes for the same operator integrations with greater scale and capital.
- Relax Gaming: Larger iGaming supplier and content aggregator that both produces slots and distributes third-party studios (including RubyPlay). Competitor and distribution partner, offering overlapping slot content plus aggregation services to operators.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Ruby Play social profiles
Digital presenceRuby Play compliance and trust
Trust signalCompliance2 records
Ruby Play financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ruby Play leadership team
Management profileNumber of profiles
Profiles1 record
Ruby Play subsidiaries and ownership
Company hierarchySubsidiaries1 record
Ruby Play funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ruby Play M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ruby Play
What does Ruby Play do?
RubyPlay designs, develops and licenses a portfolio of proprietary video slot games to online casino operators under a B2B content model. Its games are organized into named, trademarked series (Immortal Ways, Diamond Explosion, Mad Hit, J Mania, Go High, Rush Fever, Giga Match, Stampede Rush, Ten Ton Ways) and distributed via direct operator integrations, aggregation platforms and its subsidiary studio Koala Games in regulated markets worldwide.
Is Ruby Play a public or private company?
Ruby Play is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Ruby Play founded?
Ruby Play was founded in 2018. It employs 51 to 100 people.
Where is Ruby Play based?
Ruby Play is headquartered in Valletta, Malta, in the Europe region.
How does Ruby Play make money?
One revenue line is on record: B2B Game Licensing.
Who are Ruby Play's main competitors?
Direct peers on record are Push Gaming, Pragmatic Play, Hacksaw Gaming, Playson, Nolimit City, Play'n GO, ELK Studios and Yggdrasil Gaming. Broad incumbents are Evolution (NetEnt/Red Tiger) and Relax Gaming.
Does Ruby Play have an API?
No public API is recorded for Ruby Play.
What industry is Ruby Play in?
Ruby Play's product category is Online Casino Game Content. Its primary akta.pro industry code is MPAEABAJ, Online Casino Studios & Game Publishers (Slots, RNG, Live Dealer), with a secondary code of MPAFAAAO, Web3/Blockchain Game Studios. Its NAICS code is 339930 and its SIC code is 6200.