April 12, 2021
Swedish iGaming innovator Evolution Gaming Group AB has announced the signing of an agreement worth approximately $536 million that is destined to see it purchase smaller Australian rival Big Time Gaming Proprietary Limited.
The Stockholm-listed firm used an official press release to detail that the arrangement is expected to close during the second quarter of the year after it has handed over some $95.3 million in cash as well as shares valued in the region of $166.8 million to investors in Big Time Gaming Proprietary Limited. The company moreover revealed that this will be supplemented by up to $274 million in ‘earn-out payments’ to be based on the performance of its latest acquisition over the course of the next two years.
Live casino giant Evolution has entered into an agreement to acquire online slot developer Big Time Gaming for a total consideration of up to €450m, payable in cash and Evolution shares.
Evolution progresses with €450m takeover of Big Time Gaming Share
Big Time Gaming for a total cash bid of up to €450 million.
Identified as a ‘thought leader in online slots,’ the acquisition of Big Time Gaming will enable Evolution to take advantage of popular titles such as Bonanza and Extra Chilli as well as the Game Mechanic Megaways, which is integrated into over 200 games from multiple developers.
Big Time Gaming’s 2020 revenue totalled €33 million with an EDITDA of €29 million. Evolution’s total transaction has been estimated by the firm to contribute positively to its 2021 EPS.
“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,” said
Evolution progresses with €450m takeover of Big Time Gaming Share
Big Time Gaming for a total cash bid of up to €450 million.
Identified as a ‘thought leader in online slots,’ the acquisition of Big Time Gaming will enable Evolution to take advantage of popular titles such as Bonanza and Extra Chilli as well as the Game Mechanic Megaways, which is integrated into over 200 games from multiple developers.
Big Time Gaming’s 2020 revenue totalled €33 million with an EDITDA of €29 million. Evolution’s total transaction has been estimated by the firm to contribute positively to its 2021 EPS.
“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,” said