Evolution has long been one of the leading game developers in live casino games. Now they have expanded their gaming portfolio with slot machines following the acquisition of Australian game developer Big Time Gaming for EUR 450 million.
April 12, 2021 it became clear that the game developer Evolution has entered into an agreement worth 450 million euros to buy the innovative Australian game developer Big TIme Gaming.
The game developer who is best known for his Live casino-Games first pay 220 million euros for Big Time Gaming. 80 million euros is paid in cash immediately and the rest is paid out in recent Evolution shares.
In addition, Evolution will pay earnings based on Big Time Gaming's gross income over the next two financial years, with payments in 2023 and 2024, respectively, which amount to EUR 230 million.
As with the pre-amount, the earnings are paid 70% in cash and 30% in newly issued Evolution shares.
Big Time Gaming has had solid growth in recent years
In 2020, Big Time Gaming generated a turnover of 33 million euros with a gross income of EUR 29 million.
Big Time Gaming is the game developer responsible for the development of the very popular Megaways ™ game mechanics and is familiar with game titles such as Bonanza, Extra Chilli and White Rabbit MegaWays™.
Chairman Jens von Bahr at Evolution had the following to say about the agreement: “With Big Time Gaming in our portfolio of slot machines, we strengthen our strategic position as the leading supplier of digital casino games in the world. Big Time Gaming's focus on innovation and creating unique gaming experiences fits perfectly with our culture and mindset at Evolution. We look forward to continuing the journey together. ”
Big Time Gaming Ceo Nik Robinson had the following to say about the deal: “Evolution and Big Time Gaming are both driven by innovation, and are therefore the perfect match. A bright and entertaining future awaits our players. "
The second major purchase of evolution in a short time
Game developer Evolution has a clear ambition to become the leading player in casino games online. The agreement with Big Time Gaming is the second in a short time of Evolution.
June 24, 2020 it became clear that Evolution bought the famous Swedish game developer NetEnt.. They took over 90% of operations here, and paid £ 1.6bn, which corresponds to around NOK 19 billion after the rate at that time.
The acquisition of NetEnt Have seen a slight change in the strategy on how the company is run. Evolution wanted to retain its strong position in live games, and chose to close NetEnt Live. Instead, they have initiated a new strategy for the development of slot machines. Part of the package in the acquisition of NetEnt was also Red Tiger.. NetEnt bought this game developer in 2019.
An exciting evolution-epoke
With both NetEnt, Red Tiger and Big Time Gaming in Evolution's portfolio, it is an exciting era going on with the development of new innovative slot machines. Evolution already has a strong position in live games where they also have Ezugi in the portfolio of live games.
New version of the popular slot machine Starburst is developing
A new version of NetEnt's popular slot machine Starburst Coming as a new volatile game for the summer.
CPO Todd Haushaler has stated the following about the planning: “We do not want to make a game for existing Starburst players. We want to make a game for players who played it at one point, liked it, but then left the game because they wanted to win big.
We want to invite them back to a game with a mechanics that they love on a brand that they trust, but with modern volatility where they have a chance to quit their jobs if they get a big win. "
The development of Big Time Gaming will be exciting
The plans for how Big Time Gaming will be further developed by Evolution is not yet clear, but with the way they are gradually working to put in place quality games with NetEnt and Red Tiger, it is quite likely that there is an exciting development that is in store for the slot machines From Big Time Gaming too. It will surely come a lot interesting from Evolution over the next few years.