{"id":7574,"date":"2024-07-19T05:01:38","date_gmt":"2024-07-19T05:01:38","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/19\/evolution-all-set-to-acquire-galaxy-gaming-for-85m\/"},"modified":"2024-07-19T05:01:38","modified_gmt":"2024-07-19T05:01:38","slug":"evolution-all-set-to-acquire-galaxy-gaming-for-85m","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/19\/evolution-all-set-to-acquire-galaxy-gaming-for-85m\/","title":{"rendered":"Evolution All Set to Acquire Galaxy Gaming for $85M"},"content":{"rendered":"
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Evolution has announced its agreement to acquire Galaxy Gaming, a developer and distributor of casino table games and gaming technology solutions, for a total equity value of approximately $85 million, payable in cash. This acquisition aligns with Evolution\u2019s strategy to be a leading provider of casino games<\/a>, enhancing its gaming content offerings.<\/p>\n

Strengthening Market Presence<\/h2>\n

The acquisition aims to solidify Evolution\u2019s position in the US market and boost its role as a licensor of proprietary table games to the online gaming industry. \u201cWe 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,\u201d<\/em> stated Evolution AB CEO Martin Carlesund. He added, \u201cGalaxy Gaming\u2019s exceptional products and technology complement our existing portfolio and strengthen our strategic position. Evolution intends to retain the management and employees and also plans to operate Galaxy Gaming as a separate and independent business unit.\u201d<\/em><\/p>\n

Galaxy Gaming\u2019s President and CEO, Matt Reback, also commented on the transaction, saying, \u201cWe 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\u2019s thriving land-based business, driven by our industry-leading games and progressive technologies, with Evolution\u2019s global reach and innovative online gaming leadership.\u201d<\/em><\/p>\n

Evolution will acquire all outstanding shares of Galaxy Gaming\u2019s common stock for $3.20 per share in cash, representing a 124% premium to Galaxy Gaming\u2019s closing share price on July 17. The Galaxy Gaming Board of Directors has approved the deal, which now awaits customary closing conditions, including approval from Galaxy Gaming stockholders and certain gaming regulatory bodies.<\/p>\n

The companies expect the transaction to close by mid-2025, marking a significant step forward in Evolution\u2019s growth strategy and its commitment to delivering cutting-edge gaming experiences. This acquisition empowers Galaxy Gaming to sustain its independence while leveraging Evolution\u2019s operational and financial strength to drive innovation and growth in the gaming industry.<\/p>\n

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