Evolution Gaming has set its sights on becoming the biggest digital casino game providers in the world, and is steadily strengthening its position in doing so by making landmark purchases. In December 2020, a €1.6 billion deal was signed with iconic gaming solutions company, NetEnt, which followed with an April 2021 purchase of another iGaming giant, Big Time Gaming for €450 million.
Evolution Gaming is a well-established, Swedish headquartered, Live Casino game provider who currently hold the status of being the leading provider in the world, of its kind. Prior to the acquisition of NetEnt, Evolution Gaming rebranded itself to Evolution and this together with its two recent agreements, marks the unwavering commitment of Evolution to maintain and strengthen its global reputation.
NetEnt is the Swedish world leading slot games manufacturer, and Australian-based Big Time Gaming have hit it big with their slot game solutions and megaways gameplay technology – making for two extremely valuable assets to attain on the part of Evolution.
Commenting on the Big Time Gaming acquisition, Jens von Bahr, Chairman of Evolution says, “With the addition of Big Time Gaming to our portfolio of slot brands we strengthen our strategic position as the leading provider of digital casino games in the world.”
Evolution’s deal with Big Time Gaming will be paid part in cash, and part in Evolution shares. An approximate 70% of the total will be paid for in cash, with the remaining 30% to be covered in the shares which are valued based on the NASDAQ Stockholm trading index. It is estimated that the transactions regarding this deal will be completed during the second quarter of this year, which necessitates all regulatory approvals.
“Big Time’s focus on innovation and creating unique playing experiences is a great fit with our culture and mind-set at Evolution. We look forward to continuing our journey together,” von Bahr continues.
Big Time Gaming has amassed notoriety in the industry with its popular game titles like, Extra Chilli, and Bonanza to name a few. It has also successfully mastered megaways games with the use of smart mechanics which offers players over 100,000 ways to win. In 2020 alone, Big Time Gaming saw revenues of €33 million, and reported an operating profit of €29 million.
On behalf of Big Time Gaming, CEO Nik Robinson comments on the deal, “Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits for our players.”
In a few short months Evolution has secured both Big Time Gaming and NetEnt’s unique gaming portfolio as well as their technological solutions, to fall under its own umbrella – which will make Evolution an undeniable powerhouse.
Evolution considers itself entrepreneurial innovators that are quick to catch the next big opportunity, and this shows. The casino community is watching Evolution make waves in the industry and is eager to see what the next big catch may be for this leading game provider.