Evolution has been consolidating its position in the U.S. market for some time. It is a leading B2B solution provider for casino operators. It works with more top-tier operators than any other provider. Its acquisition of Galaxy Gaming is another step towards its mission of providing unparalleled playing experiences for players at online casinos.
Evolution – a leading provider of online casinos
Evolution’s acquisition of Galaxy Gaming aligns with its strategy of being a leading provider of live dealer games to online casinos in the U.S. It has a global reach and leads in innovative online gambling.
Evolution will retain management and employees and plans to operate Galaxy as a separate and independent business unit. This means Galaxy will be able to retain its independence and leverage Evolution’s financial and operational strength in the gaming industry.
Galaxy Gaming – advanced technology and industry-leading games
Galaxy Gaming develops and distributes gaming technology solutions and casino table games. It has its headquarters in Las Vegas and a thriving business fueled by advanced technology and industry-leading games. With a diverse portfolio of cutting-edge games, it has become a trusted partner to casinos all over the world.
A winning combination
Uniting two world-class teams with a strong customer focus is likely to benefit all stakeholders. The two companies already work together, and Evolution offers Galaxy live dealer games like Double Ball Roulette and Texas Hold’em Bonus Poker to international players.
At online casinos, advanced technology such as both companies use allows users to play live casino games with the added convenience of making online deposits using secure payment methods. They can play in a safe and secure environment while enjoying cutting-edge games to excite and entertain them. Evolution has the financial and operational muscle while Galaxy has a strong land-based presence and unique games.
Closing conditions
Evolution will pay $3.20 per share in cash for all Galaxy Gaming outstanding shares and all common stock. The share deal represents a 124% premium over the closing price on 17 July, the final trading day before the announcement. The deal values the provider at a total of $124M, including net debt.
Galaxy’s board of directors has approved the deal and awaits the customary closing conditions. This includes approval from stockholders and certain gaming regulatory approvals. The transaction is expected to close in mid-2025, subject to satisfaction of the closing conditions. Both parties have acquired financial and legal advisors in connection with the transaction.
Strengthening of Evolution’s strategic position
Evolution has been facing increasing competition in the U.S. market from companies like Playtech and Authentic Gaming. The unique games Galaxy offers could align with live dealer trends Evolution is observing in the U.S. As one of its most recent acquisitions, Galaxy Gaming could help to shore up its position. Galaxy is currently licensed in 28 states, enabling Evolution’s footprint to expand. Evolution’s strategic position will strengthen with access to new channels and products that complement its existing portfolio.
The most recent financial results for Evolution show key growth for its live casino output. This increased by 18% compared to the same period last year. This reveals the importance of evolving traditional games and offering players new avenues of engagement. Evolution already operates over 20 studios around the world and delivers world-leading games to players.
