Evolution Acquires Galaxy Gaming in Landmark Deal
Evolution Malta Holding Ltd has entered into a deal with Galaxy Gaming to purchase the casino table games and technology solutions provider for a total equity value of $85 million, to be paid in cash.
Galaxy Gaming is a leading provider of casino table games and other iGaming technological solutions. (Source: Anna Shvets, Pexels)
LISTEN TO THIS ARTICLE:According to the agreement, Evolution will acquire all outstanding shares of Galaxy Gaming common stock for $3.20 per share, a 124% premium over the closing price on July 17, 2024.
Galaxy Gaming's board of directors has given the deal the green light, and it is expected to be finalized by the middle of next year.
Following the acquisition, Galaxy Gaming will remain operational as a separate business entity, with its existing management team and employees, as Evolution plans to retain them.
Galaxy Gaming prides itself on having a portfolio of cutting-edge gaming solutions delivered to a strong network of casinos around the world. With the acquisition, the company hopes to leverage Evolution's expertise in gaming technology to create more immersive player experiences.
For years, our collaboration has successfully delivered popular games like 21+3 and LuckyLadies to millions of players in regulated iGaming markets globally. This acquisition by Evolution empowers Galaxy to sustain and maintain its independence while continuing to focus on growth and expanding its operations, leveraging Evolution's operational and financial strength to facilitate product sharing and drive omni-channel innovation.
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Evolution Eyes Market Dominance
According to Evolution Gaming, the purchase aligns with its strategy of becoming the world's top provider of casino games and strengthening its foothold in the US market. This vision has led to a number of acquisitions for the company in recent years, including Livespins in February.
Galaxy Gaming's exceptional products and technology complement our existing portfolio and strengthen our strategic position. Evolution intends to retain the management and employees and also plans to operate Galaxy Gaming as a separate and independent business unit.
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