In a significant strategic move, Evolution confirmed its plans to acquire Galaxy Gaming for about $85 million, marking a pivotal step in its expansion strategy into the U.S. market. The acquisition strategically aligns with Evolution’s goal of expanding its influence in the U.S. and integrating it into the land casino sector, which was historically dominated by traditional operators.

Comprehensive acquisition details:

Evolve’s approach to the acquisition is to buy outstanding shares of Galaxy Gaming at $3.20 apiece, offering a premium worth 124% of the pre-announcement share price. The transaction’s comprehensive value, including net debt, is calculated at approximately $124 million. The acquisition, which is expected to be finalized by mid-2025, is supported by a solid financial plan, driven by funding from Evolve’s existing cash reserves and the positive stance of Galaxy board members, who own a 14% stake in the company.

With this acquisition, Evolution not only diversified its geographic presence but also strengthened its product line. Known for its innovative table games and related technologies such as progressive bonushing systems and advanced dealer terminals, Galaxy Gaming has licenses in 131 markets worldwide, including 28 in the United States. This addition will significantly enhance Evolution’s existing portfolio, which was previously enriched by acquisitions to enhance slots and digital products.

Leadership and Vision:

The leadership of both companies expressed strong support for the acquisition. Martin Calessund, CEO of Evolution, said, “We are excited to announce the acquisition of Galaxy Gaming, an important milestone in our mission to provide customers with an unparalleled gaming experience. The exceptional products and technologies of Galaxy Gaming complement our existing portfolio and strengthen our strategic position.”

Matt Reback, CEO of Galaxy Gaming, highlighted the synergy potential of the merger, noting the alignment of both companies’ customer-centric strategies and strengthening their innovation capabilities within the industry. 바카라사이트 추천

Future mergers are expected to spur significant advancements in the two companies’ market services. The combination of Evolution’s global reach and innovative online platforms and Galaxy’s strong land-based presence and technology is expected to drive significant innovation on both platforms. Furthermore, strategic acquisitions position Evolution to effectively compete in an increasingly integrated market where a mix of online and real-world gaming experiences continues to gain prominence.

Evolution’s acquisition of Galaxy Gaming is seen as a revolutionary move by the company to potentially set new industry standards in the integration of online and land-based gaming operations. The deal not only improves Evolution’s market share, but also strengthens its ability to lead a fast-evolving gaming environment.