Evolution to Acquire Galaxy Gaming

Trajectory of Growth

Evolution has agreed to acquire all issued and outstanding common shares of Galaxy Gaming for $3.20 per share in cash. This valuation represents a 124% premium over the closing price of the shares on July 17.

Evolution is vocal and decisive about its plans for the U.S. market, expressing its intention to maintain its current growth trajectory and remain a leading force among suppliers.

Martin Carlesund, Evolution AB CEO, has commented on the agreement: “We are thrilled to announce the acquisition of Galaxy Gaming, which represents a significant milestone in our mission to provide unparalleled gaming experiences to our customers.”

The acquisition of Galaxy Gaming will enable Evolution to significantly expand its portfolio. The company plans to maintain Galaxy Gaming as a separate independent entity, without making significant changes to the current management and staff.

Formalities to Be Complete by Mid-2025

The acquisition has been officially approved by the Board of Directors of Galaxy Gaming. The next steps include the traditional closing requirements for such transactions, including approval by Galaxy Gaming shareholders and obtaining regulatory consent.

Matt Reback, President and CEO of Galaxy Gaming remarked: “We believe this transaction represents the opportunity to unite two world-class, customer-focused teams in a way that will benefit all stakeholders. It combines Galaxy Gaming’s thriving land-based business, driven by our industry-leading games and progressive technologies, with Evolution’s global reach and innovative online gaming leadership.”

The transaction is expected to close in mid-2025.