Evolution Gaming are gunning for their rivals NetEnt in an all-stock acquisition valued at $2.1 Billion. The deal would see both companies merging to form the largest market leader globally in the online casino industry.
$2.12 Billion Price Tag
Swedish Based Evolution traded on the Nasdaq Stockholm exchange and specialise in the creation of digital, live casino games offered the sum of $2.12 billion in stock in exchange for it’s full portfolio of casino games.Board of Directors at NetEnt are keen to take up the offer with shareholders indicating they too are keen to approve the deal.
Evolution Gaming
Evolution Gaming have been working hard in the industry since it was founded in 2007. To date, they offer the online casino industry eight live games studios of table games with live dealers speaking in native languages of its customers.The company supplies over 300 operators globally including William Hill, Paddy Power, 888, GVC Holdings and many more. NetEnt already have a strong foothold in North America, that along with Evolutions existing US studios will further capitilise their position in the ever evolving US states who are beginning to open its doors to online casinos.Chairman of NetEnt Mathias Hedlund explained, “ Recently, NetEnt has vastly improved its tech and product development capabilities and thereby its growth prospects and at the same time reaching a strong position within the US States that have opened up for online casino. “ With this deal, there are unique possibilities to shape a leading global B2B provider of online casino, taking advantage of the market development with continued digitalization and strong growth, especially in North America. ” Evolution’s position within live casino combined with NetEnt’s position within online slots will create a company well positioned to take significant market shares. Through this transaction, a new chapter in the development of more entertaining online casino begins, in the best interest of players, operators, employees and shareholders.”