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Evolution Gaming's Quest to Buy NetEnt Clears CMA Probe

Tags: Evolution Gaming, merger, net entertainment, netent.
Posted on 20 November 2020 by "T".

Back in September, the Competition and Markets Authority (CMA) in the UK has launched an inquiry regarding the merger between Swedish online casino content providers Evolution Gaming and NetEnt in order to determine what effect this mega-deal will have on competition in the local gambling industry. After a thorough investigation, the CMA finally gave them the green light.

On Monday, November 16, Evolution Gaming announced that the CMA has given their approval to the multi-billion deal, which entails their acquisition of online casino supplier NetEnt, valued at SEK19.6 billion (approx. $2.1 billion).

The United Kingdom is a central market for both Evolution (specializes in Live Casino products) and NetEnt (has an assorted portfolio which includes table games, online slots and live casino products).

Getting the CMA's approval was one of the final hurdles that Evolution had to clear so they can complete the merger deal. As part of the assessment, the CMA asked interested parties to submit their comments on the proposed acquisition by October 5, and the UK watchdog stated it would issue its decision by November 16, which they eventually did.

Another regulator, the Malta Competition and Consumer Affairs Authority, had also approved the deal in late September.

Acceptance Period Extended

Evolution Gaming offered SEK19.6 billion to purchase NetEnt in June, and they expected their bid to be accepted by NetEnt by October 26 and that the merger would be finalized by November 2.

After clearing the CMA probe, Evolution extended the acceptance period for the offer "up to and including" November 20. That means NetEnt must announce its decision on whether it would join the Evolution family before the week ends.
The Live Casino provider earlier said that it expects its partnership with NetEnt to "create a company well positioned to take significant market shares" thanks to Evolution's strong presence in the live casino market and NetEnt's solid presence in the online slots sector.

Other than that, both gaming companies are well-positioned to pursue further expansion opportunities in the fast-growing regulated US iGaming market.

 

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Source: https://www.gamblinginsider.com/news/10410/cma-gives-evolution-go-ahead-to-complete-netent-acquisition


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5 comments on "Evolution Gaming''s Quest to Buy NetEnt Clears CMA Probe"


 geseco1221/11/2020 04:26:10 GMT
Well, today's companies associate well so that their market reaches all parts of the world, I think that is good, it also has to be regulated so as not to have problems later, in addition to providing greater security to its players, good promotions are coming for this project..
 dule-vu21/11/2020 10:20:58 GMT
so in one hand UK allow something like this and that some company become even bigger and strogner,but in other hand they make laws that dont allow players to do much and ofcourse that this gambling companies earn more!in this news we can see that UK is main market for both companies,but we will see after this law how this will affect on them!
 CALICUL22/11/2020 16:03:52 GMT
I hope that this merger will be very profitable for the winners and for these suppliers who have joined together to try a more solid business. Only something interesting can make the interest grow and people to play with ambition or pleasure.
 dule-vu23/11/2020 10:29:53 GMT
we will see what this will bring to players,will evolution change game from netent or netent will change way that evoultion make games!they make most live games,so maybe they just want to have everything in one company,but I just hope that netent will be on at least same level as they were,because they are best slot company!
 CALICUL24/11/2020 18:04:27 GMT
Evolution can be... if they create beautiful things and good games. Covid 19 can destroy the population financially and this thing would be a catastrophe for all casinos in USA, Europe or elsewhere. Anyway, for now that danger is on point to grow.

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