Press release – 13th November 2015
As a part of securing Evolution Gaming’s opportunities for efficient future expansion of studio floor space, the Board of Directors has decided to acquire the company that owns the building which accommodates the majority of the operational activities in Riga.
The purchase price amounts to EUR 12.4 million and will provide both strategic and financial benefits, and is not expected to affect the company’s objective to distribute at least 50 percent of the net profit for the year.
Evolution has been a tenant in the building, located just outside central Riga, since 2011 and currently rents more than half of the total office space. The need to further expand the studio floor over the coming years is being assessed as large to manage the high demand for the company’s product. As the landlord has not been able to provide guarantees for further expansion, Evolution has conducted a review of different alternatives with the acquisition of the building considered to be the best option both strategically and financially.
Jens von Bahr, CEO of Evolution Gaming, said:
“The acquisition provides clear strategic advantages, as we strengthen the control over our future and significantly easier will be able to expand the studio floor space to meet the big demand for more tables and dedicated environments. Compared to if we had continued as tenants, we also get a slight positive financial impact.”
The purchase is conducted through an acquisition of the company that owns the property and is expected to be completed in January 2016. The payment is made with cash (EUR 3.1 million) and loans (EUR 9.3 million). The purchase price is less than the external valuation of the building. Interest costs and amortisation will be lower than the expected rental costs over the coming years.
The company’s objective to distribute at least 50 percent of net profit for the year is not expected to be affected by the acquisition.
End of Press release.
Evolution Gaming provide the live casino software to a number of casinos that have been reviewed on Live Casino Comparer and are the current industry leader in providing live casino solutions. They are the only live casino company to provide live 3 card poker.
I have tried to be objective and consistent with all my live casino reviews. Hopefully, they will strike a chord with you, but I thought it might be helpful to explain the criteria I use to mark each of the casinos. Hopefully, the categories and explanations make sense.
Playability – What is the overall impression of the casino? Did I have a good time? are the dealers nice and chatty and is everything easy to understand? Does it have a good set of games and is there a comprehensive set of betting options? Are high stakes players taken care of?
Software – What is the software like to use and does it integrate well with the rest of the casino?. Are the images clear and is the video streaming fast? Have they taken more than the default shared tables? Is it available on mobile?
Payment Options – Does the casino have a good variety of payment options? Do they payout quickly and on time?
Security – How good is the reputation of the casino amongst other players? Do they hold a valid gaming license? Are they transparent about the security measures they have in place? Are they regularly audited? Do they publish this information?
Support – Do they have multiple methods for communication with me? Is support available 24×7? Do they have instant chat and are they quick to respond? Are they able to help me immediately? Do they have an online FAQ and self-help library? Are the support people knowledgeable about the product I’m playing?
Bonuses – Do they have bonuses?. How strict are the wagering requirements? Do they offer repeat bonuses?. Do they offer loyalty points and can they be redeemed for cash or playing credits?
After all that, would I play there regularly?