Big Time Gaming Sells for €450 Million
Evolution continues its acquisition strategy by making an offer to buy leading slots game developer, Big Time Gaming.
The deal will pay a total of €450 million, split between cash and shares over the next three years, assuming agreed revenue targets are met.
An initial payment of €220 will be paid in cash €80 million and Evolution Shares. The remaining fee of €230 Million will be paid 70% in Cash and 30% in shares, dependent on the 3 years earn-out meeting agreed on targets.
This is a mega deal in more ways than one. Not only will Evolution own the Megaways game mechanic, which has made a step-change in the way slots are played, but they will also have a team that has a similar ethos of breaking new ground in the gaming sector.
This purchase will consolidate Evolution’s position and of being a leading supplier of Slots, Live Casino and Entertainment Games.
Jens von Bahr, chairman, Evolution, 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 mindset at Evolution. We look forward to continuing our journey together.”
Nik Robinson, CEO, Big Time Gaming, commented:
“Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits for our players.” –
The purchase is likely to complete during the second quarter of 2021.
Live Casino Comparer Comment
This blows my mind, not so much for the purchase, but what this means for the future development of online gaming.
I’m really excited for the future, as Evolution now holds the talent and capability to drive forward entertaining games in a way that no other supplier has been able to.
Knowing Evolution as I do, they won’t be satisfied with just repeating what has worked in the past. They will continue to drive innovation and gaming experiences forward. With this latest acquisition, they now have the technical and visioning skills to do just that!
If you thought Evolution’s first collaboration with their NetEnt Team, Gonzo’s Treasure Hunt Live, is a game-changer, just wait to see what they can do with Big Time Gaming!