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Evolution Gaming to Acquire Big Time Gaming for €450 Million |
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Tags:
Big Time Gaming, Evolution Gaming, slots.
Posted on 12 May 2021 by "T".
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After adding to its ranks the Swedish online slots maker NetEnt in late 2020, live casino specialist Evolution Gaming is moving on to further enlarge its business by acquiring another big slots maker.
The company announced last month that it has struck a deal to buy online casino games developer Big Time Gaming (BTG) in a whopping €450 million deal. Subject to regulatory approval, the closure of the transaction is expected to happen during the second quarter of this year.
Evolution will pay €220 million upfront for BTG, payable €80 million in cash and the remainder in newly issued shares in the enlarged group.
Additionally, Evolution will make earn-out payments based on the slots studio's EBITDA for 2022-23 and 2023-24, respectively, that will amount to a maximum of €230 million and will become payable in 2023 and 2024. The earn-out consideration will be payable 70% in cash and 30% in newly-issued Evolution shares.
Based in Australia, Big Time Gaming has been around the online gaming realm for more than 10 years. The company has made its name well-known in 2016 when its unique creation, the Megaways mechanic, was rolled out and became so successful that in 2018 it had been integrated on slot games made by fellow slot maker companies. Now, the Megaways engine exists in over 200 online slots by a number of slot providers.
Evolution Gaming Chairman Jens von Bahr happily said, "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. Big Time's focus on innovation and creating unique playing experiences is a great fit with our culture and mind-set at Evolution. We look forward to continuing our journey together."
Elated with the agreement as well, Chief Executive at Big Time Gaming Nik Robinson said, "Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits our players."
This is the second-big acquisition deal by Evolution since over the past year. In June 2020, the live casino expert offered to buy NetEnt, valuing the online slots creator at SEK19.6 billion ($2.2 billion). The NetEnt acquisition was finalized in December 1, 2020.
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Source: https://lcb.org/news/swedens-evolution-is-set-to-buy-big-time-gaming
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13 comments on "Evolution Gaming to Acquire Big Time Gaming for €450 Million"
| dule-vu | 12/05/2021 14:15:58 GMT |
| when you look on one side,its great money for some company,450 million euros is big amount,but on other side,when you know that they have exclusive right on megaways slots and that nobody cant make something like this if they dont pay you and you will just grow every year,then this situation is very strange!I am sure that in this corona situation,they will grow,they will make news slots,they will earn more money,so they will have bigger value for sure and will have value for 700 or 800 millions,who know!
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| CALICUL | 12/05/2021 19:46:16 GMT |
| The best solution is to buy your competitors. You don't have to bankrupt them, you just have to buy their business. Then, you can have higher earnings and the money spent will be recovered in a few years, with the condition that rivals who sold, should not open a similar business.
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| Cesar14 | 12/05/2021 20:13:21 GMT |
They are not going to be stupid in buying to go bankrupt, they know that in these moments that we are passing from confinement it is opportune to invest more in online games, they know that they will recover it in a couple of years, everything will be fine for them. insurance.
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| geseco12 | 13/05/2021 01:32:19 GMT |
Many evaluate the market before buying something that will be profitable in the coming years, companies like Facebook that bought Wasap and Instagram are a clear example that if we want to govern our business we have to be the first in everything, and now 450 million is not cheap at all but for sure they will do super well.
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| dule-vu | 13/05/2021 15:09:08 GMT |
| nobody say that they will bankrupt because of this,its just question why this company sold them this great business,because they will just earn more in future and their company will have even bigger value!they have right on all megaways slot,so they have everything in their hands!now everything will have evolution gaming!
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| CALICUL | 13/05/2021 19:54:42 GMT |
| the internet brings a lot of money if the economies of countries around the world are doing well. There are all kinds of sites, casinos or online stores and many other things that can enrich you. You need a little mind and after that earn money. Evolution Gaming makes a very good deal.
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| dule-vu | 17/05/2021 18:05:34 GMT |
| almost every week they make some new megaways slot,no matter that they give right to some company to make new slot or that they work on it,but we all see how they good are they in this business!thats why I dont understand why they had to make this early thing and to sold it,even in this year this company they will grow for sure!
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| CALICUL | 17/05/2021 23:11:10 GMT |
| the most important thing is that the acquisition it will recover much faster than necessary. Their power will be greater now and it is not to be regretted. Businesses like this are beautiful and with experience good things will be done here.
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| CALICUL | 01/09/2021 19:47:56 GMT |
| I wish that in a year there will be some figures with good profit, which will make in a few years from the purchase of this company to recover all the investment. I think it was a good deal, but i have no idea if there will be many customers. Anyway people play and sooner or later this thing will happen.
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| CALICUL | 12/10/2021 10:49:32 GMT |
| sure Cesar, but you have no way of knowing what will happen in the near future and there is always a big risk. When you buy a big company you have no guaranteed success, especially since there is a lot of competition and this a madness who called covid 19...
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| CALICUL | 02/11/2021 19:10:29 GMT |
| a lot of invested money that can be recovered quite easily with a stability in what they offer to the players, so that they make them play and be many winners, When you have wise strategies you can also make the clients play and be satisfied
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| CALICUL | 23/11/2021 00:09:38 GMT |
| when one developer buys another it is something beautiful, and here it was an important amount. However, these businesses bring a lot of satisfaction to those who paid, but also to those who sold. The important thing is that the work continues nicely and to be good, of course.
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| CALICUL | 12/12/2021 11:52:46 GMT |
| Big time gaming is doing well at the moment in a lot of countries where it operates, but in Australia a country that has had a lot of problems in the last year I don't know if they can handle it. It is sad what has happened and is happening there since the fires and forced vaccinations, but I hope that the situation will be remedied and the people will win in front of the government.
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