Evolution Gaming Group recently entered into a deal with Big Time Gaming in its endeavor to expand its gaming horizons. The deal will see Evolution Gaming Group fully acquire the prominent slot machines developer. The acquisition will be completed once €450 is paid in cash.
Big Times Gaming offers a wide range of innovative and fresh slot titles. Some of their favorite world title they have developed include Bonanza and Extra Chili. The gaming developer is one of the revolutionary game mechanics that has produced more than 200 games.
Jen Von Bahr, the chairman of Evolution Gaming, the acquisition of Big Time Gaming will improve their position as providers of online gambling solutions. Bahr added that both companies have a similar mindset desire to see the gaming experience keep improving.
In 2020, Big Time Gaming reported that it made a revenue worth €33 million. The report further adds that Evolution Gaming is willing to pay €220 for the arrangement of 2021 EPS. Also in the future, the company will pay to earn-out payment based on the designer’s EBITDA.
Another part of the acquisition agreement is the upfront payment of €80 million in cash while the remaining will be paid in the newly issued shares that are valued according to NASDAQ Stockholm rating for the time frame between March 23 rd and April 7th, 2021. The earn-out payment, which is part of the agreement, will be paid partially in cash and part in the newly issued shares.
Previously, Evolution Gaming agreed to provide Alberta with an online gaming portfolio. The company reached an agreement with Alberta Gaming, Liquor, and Cannabis Corporation to provide the province with online games as the land-based casinos remain closed. The games offering that Evolution Gaming will provide Blackjack, Roulette, Baccarat, and Ultimate Texas Hold’em.
In 2019, the company entered into a deal with Loto-Quebec to provide Online gaming to the province. The partnership allowed the lottery corporation to provide a set of premium services and launching of the live casino platform. British Columbia and Manitoba have also partnered with the company to provide first-class gaming content to gaming enthusiasts