Evolution Gaming Group finalized an agreement to acquire the entire share capital issued by Big Time Gaming for € 450 million.
Part of the deal will be settled in cash, and shares of Evolution and is around € 220 million, based on EBITDA (earnings before interest, taxes, depreciation and amortization) of Big Time Gaming for the years 2022/23 and 2023 / 24. While the earn-out amounts (compensation / bonus issues) will total € 230 million and will be paid between 2023 and 2024.
“The conclusion of the transaction is conditional on receiving regulatory approvals and is expected during the second quarter of 2021”, is stated in an official statement from Evolution.
Evolution President Jens von Bahr said: “With the addition of Big Time Gaming to our portfolio of slot machine brands, we have strengthened our strategic position as a leading provider of digital casino games in the world.”
Bahr continued: “Big Time’s focus on innovation and creating unique gaming experiences fits perfectly into Evolution’s culture and mindset. We look forward to continuing our journey together ”.
Big Time Gaming’s titles include Bonanza and Extra Chilli, with the company reporting revenues and EBITDA of € 33 million and € 29 million, respectively, for the year 2020.
Big Time Gaming CEO Nik Robinson also said: “Evolution and Big Time Gaming are driven by innovation, so the perfect match. A bright and fun future awaits our players ”.
About Evolution Gaming
Working with more first-rate operators than any other provider on the market, Evolution is a benchmark in live casino services delivered to players across multiple channels and devices.
Through innovative software, well-established and personal business-class infrastructure, the company seeks to add real value to its partners’ gaming business. In addition, the organization aims to be the world’s leading online casino provider.