Aquisitions/Mergers
EVOLUTION TO ACQUIRE GALAXY GAMING, A LEADING INDEPENDENT DEVELOPER AND DISTRIBUTOR OF CASINO TABLE GAMES AND TECHNOLOGY
Evolution AB (publ)’s wholly owned subsidiary, Evolution Malta Holding Limited, (“Evolution”) has entered into an agreement to acquire Galaxy Gaming, Inc. (“Galaxy Gaming”) for a total equity value of approximately $85 million(the “Transaction”), payable in cash.
Transaction highlights and strategic rationale
Galaxy Gaming, a leading developer and distributor of innovative casino table games and enhanced gaming technology solutions, continues to revolutionize the casino industry with its state-of-the-art products and exceptional service. With a diverse portfolio of cutting-edge games, Galaxy Gaming has established itself as a trusted partner to casinos worldwide.
The acquisition is in line with Evolution’s strategy of being the world’s top provider of casino games, supplying its customers with the best gaming content. With the acquisition of Galaxy Gaming, Evolution solidifies its presence in the US market and enhances its position as a leading licensor of proprietary tables games to the online gaming industry.
“We are thrilled to announce the acquisition of Galaxy Gaming, which represents a significant milestone in our mission to provide unparalleled gaming experiences to our customers. Galaxy Gaming’s exceptional products and technology complement our existing portfolio and strengthen our strategic position.” – Martin Carlesund, CEO Evolution AB (publ)
“Evolution intends to retain the management and employees and also plans to operate Galaxy Gaming as a separate and independent business unit,” added Carlesund
“We believe this transaction represents the opportunity to unite two world-class, customer-focused teams in a way that will benefit all stakeholders. It combines Galaxy Gaming’s thriving land-based business, driven by our industry-leading games and progressive technologies, with Evolution’s global reach and innovative online gaming leadership. 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, leveragingEvolution’s operational and financial strength to facilitate product sharing and drive cutting-edge omni-channel innovation.“ – Matt Reback, President and CEO, Galaxy Gaming.
Galaxy Gaming has provided guidance of $29.0 – $30.0 million in Net Revenue and $12.0 – $13.0 million in Adjusted EBITDA for fiscal year 2024.
Consideration and financing
Pursuant to the Merger Agreement, Evolution has agreed to acquire all of the outstanding shares of common stock of Galaxy Gaming for$3.20 per share in cash, which represents a premium of 124% to Galaxy Gaming’s closing share price on July 17, 2024, the last trading day prior to the announcement of the Transaction. The Transaction values Galaxy Gaming at at total equity value of approximately $85 million, and approximately $124 million including net debt. The consideration will be financed with cash on hand.
Conditions and time plan for the acquisition
The Transaction has been approved by the board of directors of Galaxy Gaming. Galaxy Gaming board members holding approximately 14%of Galaxy Gaming’s common stock have entered into support agreements to vote their shares in favor of the Transaction.
The Transaction is subject to customary closing conditions, including Galaxy Gaming stockholder approval and certain required gaming regulatory approvals. The parties currently expect the closing to occur in mid-2025, subject to satisfaction of those closing conditions.
Advisors
Evolution has engaged J.P. Morgan SE as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor in connection with the Transaction. Galaxy Gaming has engaged Macquarie Capital as exclusive financial advisor and Latham & Watkins LLP as legal advisor in connection with the Transaction.
The post EVOLUTION TO ACQUIRE GALAXY GAMING, A LEADING INDEPENDENT DEVELOPER AND DISTRIBUTOR OF CASINO TABLE GAMES AND TECHNOLOGY appeared first on European Gaming Industry News.
Aquisitions/Mergers
Revpanda Acquires Long-Time Partner Leetz Media
A Perfect Match: Acquisition Marks the Formation of Revpanda Group
Revpanda’s acquisition of Leetz Media is more than just a business transaction; it’s the union of two well-established companies that have consistently delivered top-tier results in the iGaming industry for years. This opens an exciting new chapter as Revpanda evolves into Revpanda Group, becoming the ultimate traffic powerhouse.
The Power of Combined Forces
Revpanda has long been recognised for its iGaming digital marketing expertise. The multiple award-winning agency is the go-to partner for the top brands, offering a full suite of services, such as:
- Retention through content and localisation,
- Direct traffic acquisition via SEO, digital PR, and programmatic,
- Product excellence with Payment Method Testing, Block Monitor, and Conversion Rate Optimisation services.
Leetz Media, on the other hand, has distinguished itself with exceptional affiliate marketing know-how, and now constitutes as Revpanda Media. Their proven strategies of generating players through SEO assets have been instrumental in driving high-quality traffic and optimising affiliate performance for a significant number of reputable brands in the gambling industry.
This strategic approach enables Revpanda Group to deliver even greater value to our partners. By amplifying our ability to drive both direct and affiliated traffic, we will now not only be improving lead quality, but also significantly increasing player value through retention, and product improvements.
Voices of the Leaders: Shared Vision, Shared Success
Emre Goktas, CEO of Revpanda, expressed his enthusiasm for the acquisition, highlighting the synergy between the two companies.
“Leetz Media has been a trusted partner for years, and their expertise in affiliate marketing is second to none. Welcoming them into the Revpanda team was a natural progression, and with our combined services, we’re excited to bring operators better player acquisition and higher player value,” he stated.
On behalf of Leetz Media, CEO Arnis Surgovts shared his excitement about joining forces with Revpanda.
“We’ve always admired Revpanda’s innovative approach and are thrilled to be part of their journey. Together, we’ll continue to set new benchmarks in the iGaming industry by generating even better quality traffic and higher ROI for operators,” he commented.
Explore Growth Opportunities for Success with Revpanda Group
As Revpanda and Leetz Media embark on this exciting journey together under the roof of Revpanda Group, we invite clients, partners, and industry peers to join us in exploring new opportunities for growth and success. Reach out to our team today to learn how we can help you achieve your goals and turn your expectations into results.
Let’s build the future together!
The post Revpanda Acquires Long-Time Partner Leetz Media appeared first on European Gaming Industry News.
Aquisitions/Mergers
BETSSON GROUP ANNOUNCES STRATEGIC ACQUISITION OF SPORTING SOLUTIONS
Betsson Group, a leading global sports betting and gaming operator, is pleased to announce the acquisition of Sporting Solutions’ trading, pricing, and sports betting risk-management services verticals from the FDJ Group. This acquisition enhances Betsson’s B2C and B2B sportsbook offerings, building on a successful partnership with Sporting Solutions, spanning over 10 years.
Sporting Solutions, established in 2007, is known for its cutting-edge sports betting technology and serves numerous B2B customers, including several Tier 1 operators. The integration of Sporting Solutions’ advanced pricing feeds has been a key component in Betsson’s sportsbook offering for both pre-match and live betting.
With a talented team of professionals primarily based in the UK, alongside operations in Canada and South Africa, Sporting Solutions brings significant expertise and innovative technology. This acquisition, subject to regulatory approvals and other agreed conditions, aligns perfectly with Betsson’s strategy to enhance its sportsbook product, offering greater flexibility in odds modelling and scalability.
“We are excited to welcome the Sporting Solutions team to Betsson Group. This acquisition is a strategic fit, providing us with quality technology that is already integrated into our sportsbook product,” said Jesper Svensson, CEO of Betsson Operations. “It also complements our Sportsbook B2B strategy, strengthening the flexibility and scalability of Betsson’s Sportsbook offering – both key factors in the success of our B2B strategy.”
Betsson Group looks forward to integrating Sporting Solutions into its business operations, with plans to invest in the business and drive growth. This integration is expected to enhance revenue streams and create valuable business prospects. This strategic acquisition will further solidify Betsson’s position as a leader in the global sports betting industry.
The post BETSSON GROUP ANNOUNCES STRATEGIC ACQUISITION OF SPORTING SOLUTIONS appeared first on European Gaming Industry News.
Aquisitions/Mergers
Stake expands into Italy through strategic acquisition of Idealbet
Stake has acquired Italy-based sports betting and remote gaming operator Baldo Line s.r.l, a company previously part of the Octavian Group, and will acquire Idealbet.it, aiming to bolster global expansion efforts and strengthen its market position, furthering its commitment to delivering top-tier entertainment to players.
This pivotal strategic acquisition marks Stake’s continued growth into new markets, following its acquisition of Betfair Colombia in November 2023, which announced its entry into Latin America.
Through this acquisition, Stake will introduce a portfolio of innovative gaming options to players in Italy. The combination of Idealbet’s established presence and Italy’s mature, substantial market provides Stake with a robust foundation for growth in the region.
Following the acquisition, Stake will establish a local presence in Italy by opening an office in Italy to expand on its team of employees. Idealbet will continue to operate under its own brand within the Stake portfolio.
Commenting on the significance of the acquisition, Brais Pena, Chief Strategy Officer at Easygo, the technology powerhouse behind Stake, said: “This acquisition aligns with our strategic ambitions to increase our global footprint, particularly in an established region like Italy, and marks a significant milestone for Stake. We’re thrilled to work with Idealbet to provide the best experience for our customers.”
Commenting further on the acquisition, Simone Pachera, Chief Executive Office at Octavian said: “We’re excited to collaborate with Stake and usher in a new experience for our customers, further expanding the market in Italy. Since acquiring Baldo Line, we have built a strong foundation for Idealbet through our AGP gaming platform and HubCasino aggregator.
“Now, we are thrilled to transition operations to Stake, a globally renowned brand with a proven track record of delivering exceptional player experience. We are confident that Stake will significantly enhance the growth of Idealbet and bring renewed energy to our players, as well as the entire Italian online gaming market.”
Stake is the world’s leading brand in the betting and gaming category. Since 2017 Stake has introduced cutting-edge technology and innovative gaming options for players. Stake is committed to player safety, keeping gambling fun, safe and entertaining by providing comprehensive tools and resources aimed at helping customers understand and manage their gambling activities.
The post Stake expands into Italy through strategic acquisition of Idealbet appeared first on European Gaming Industry News.
-
gaming2 years ago
ODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News6 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018