Evolution Gaming founders, Jens von Bahr and Fredrik Österberg have announced they have sold 75% of their shares in Evolution Gaming.
This follows Octobers release of an impressive set of 3rd Quarter Results.
They issued the following statement yesterday.
With the sudden and expected downturn in the share price, is this now a good time to buy a few shares?
21st November 2017
Jens von Bahr and Fredrik Österberg, through JOvB Investment AB and Fros Ventures AB, respectively have sold 1,798,520 shares in Evolution Gaming Group through an accelerated bookbuilding process to Swedish and international institutional investors at a price of SEK 557 per share, corresponding to approximately 5% of all outstanding shares in Evolution Gaming.
Dear friends, colleagues and shareholders,
As co-founders of Evolution Gaming, we have both undergone a very emotional process before deciding to sell down just below 25% of our holdings. It is inevitable that investors will react negative to founders selling down and we both understand and appreciate that.
There is never a good timing to sell down. Never. So either you can simply never sell or you have to choose the least bad timing. We have chosen the latter. The company is performing well and every analyst covering our stock has a positive recommendation.
This is likely, and hopefully, going to be a bad deal as we both hope and believe that the share price will continue to have a positive development long term.
As aforementioned we do both still have the vast majority of our wealth in Evolution Gaming and in addition we are moving our shares to a new jointly owned vehicle that will control our shareholding in Evolution Gaming. We remain firm in our belief in, and commitment to, Evolution Gaming and intend to continue to be active shareholders for the long run.
Jens von Bahr and Fredrik Österberg
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?