Evolution Buy Big Time Gaming: the details of the agreement

Home » Evolution Buy Big Time Gaming: the details of the agreement

Evolution Buy Big Time Gaming. This is the news that has been confirmed in recent weeks and which features one of the most important provider software. Evolution gaming, a Swedish leader in particular in games with live dealers, confirmed the definitive acquisition of the provider dedicated to the creation of online slot machines, big time gamingnull In the next paragraphs we will see in detail what are the terms of the operation. However, we can start saying that it is around 535 million dollars one of which in cash and another in Evolution actions.

A decidedly important blow for Evolution, considering that Big Time, during his career, got to light for the creation of several highly successful titles. Among these, for example, we find Bonanza, Extra Chilli and Game Mechanic Megawaysnull The megaways games, then, are the real flagship of the company. They also allowed her to win the prize as "in 2022Most innovative online gambling mechanism”.

These games, in fact, are decidedly particular and very different from all the other traditional online slot machines. They have six rollers and thanks to the megaways technology, which includes an extra horizontal line, they are able to guarantee tens of thousands of possible combinations to win a prize.

The declarations

Let's now take a look at the statements that arrived after Evolution Gaming acquires Big Time Gaming.

These are the words of the president of Evolution, Jens von Bahr: “With the addition of Big Time Gaming to our slot brands portfolio, we strengthen our strategic position as a leading digital casino games supplier in the world. Big Time's attention to innovation and the creation of unique gaming experiences perfectly adapts to our culture and mentality in evolutionnull We can't wait to continue our journey together“.

Obviously optimistic too Nik Robinson, Big Time Gaming CEO that says: “Evolution and Big Time Gaming are both guided by innovation, therefore the perfect combination. A bright and fun future awaits our players“.

Evolution Buy Big Time Gaming: the terms of the agreement

As mentioned also at the beginning, The total agreement is approximately 535 million dollarsnull The first part of the payment provides that evolution gaming verses about half of the sum agreed, and therefore 262 million dollars. In Evolution, moreover, they will also touch for the I Earn-Out (a clause system used when you buy companies), Based on Big Time Gaming Ebitda respectively for 2022-23 and 2023-24.

As for the first tranche, Evolution will pay 95 million dollars in cash, while the remaining part will be welded with newly issued evolution actions. To calculate the price of Evolution Gaming actions, then, there will be an account of a price equivalent to the average weighted cost for the volume of the Evolution title at the Nasdaq in Stockholm from 23 March to 7 April, with a scheduled issue of 1,120,000 shares null

The completion of the transaction is, however, subject to the receipt of the regulatory approvals and is foreseen in the second quarter of 2022.

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