Evolution Evolution surprised everyone this week with the revelation that it is acquiring Australia's creative powerhouse, Big Time Gaming .
In the previous year, Evolution took a commanding lead in the industry by acquiring slot titans NetEnt and Red Tiger , further cementing its role as a trailblazer.
Now, Evolution has struck another significant deal, poised to redefine the industry with the acquisition of Big Time Gaming.
As part of this agreement, Evolution intends to purchase the full share capital of Big Time Gaming, with the deal's value being pegged at a sizeable €450 million (£534 million) .
A significant part of this acquisition will see 70% of the payment being made in cash, while the remaining 30% will be settled with newly issued shares. These shares will be valued based on the NASDAQ Stockholm trading index at the issuance time.
This strategic acquisition bolsters Evolution’s stature in the industry, positioning it as a premier provider of captivating and high-quality casino games.
Jens Von Bahr , Chairman of Evolution, expressed his thoughts on the acquisition: “With Big Time Gaming joining our roster, we further enhance our strategic edge in the realm of digital casino gaming.”
Nik Robinson , CEO of Big Time Gaming, mirrored this enthusiasm, recognizing the mutual commitment to innovation shared by both companies.
Who is Big Time Gaming?
Operating out of Sydney, Australia, Big Time Gaming is synonymous with unique slots and inventive game mechanics.
The company revolutionized the industry by introducing the Megaways mechanic back in 2015.
This mechanic quickly caught fire, licensing agreements proliferated, and it sparked a fresh wave of innovation among online slot creators.
Following the Megaways debut, countless games have incorporated this mechanic, capturing the attention of online casino enthusiasts.
Who is Evolution Gaming?
Evolution’s name has repeatedly surfaced over recent years.
Predominantly associated with live casino tables in the past, Evolution is diversifying and venturing into different industry segments.
This acquisition reaffirms its leadership in both live gaming and online slots , highlighting its relentless quest for innovation and consistent success.
Evolution is riding a wave of momentum, and anticipation is high for the surprises they might unveil in the coming years!
