Evolution Gaming Group to Acquire Big Time Gaming for $534M
Big Time Gaming will be the latest addition to Evolution Gaming Group’s growing portfolio of iGaming assets in a deal valued at $534 million.
Evolution Gaming Group is on a roll. Following the acquisition of the world’s leading manufacturer of slot games NetEnt, the company is moving to secure another landmark deal, offering to buy the entire share capital of Big Time Gaming, known for its original slot gaming solutions and megaways gameplay mechanic.
The deal is valued at €450 million (roughly $534 million), which will be paid in cash and Evolution shares. An estimated 70% of the sum will be paid in cash, with the remainder covered in newly issued Evolution shares. The shares will be valued based on the trading index on NASDAQ Stockholm at the time of issuance.
The move continues Evolution’s determination to consolidate its position as the leading supplier of quality iGaming products and bringing BTG’s unique portfolio of technological solutions and original titles under its own roof.
Big Time Gaming has become popular with its development of titles such as Extra Chilli and Bonanza and the successful implementation of the megaways mechanics, which allows players to enjoy over 100,000 paylines. The mechanic has seen many of NetEnt’s games already re-worked to feature megaways, including the all-time classic Gonzo’s Quest.
Jens von Bahr had this to say: “With the addition of Big Time Gaming to our portfolio of slot brands, we strengthen our strategic position as the leading provider of digital casino games in the world.”
He further added that Big Time Gaming’s commitment to creating unique player experiences would fit well in Evolution’s culture. “We look forward to continuing our journey together,” von Bahr said.
Naturally, the news was welcomed by Big Time Gaming CEO Nik Robinson with equal excitement. Robinson explained that both Evolution and BTG share a drive for innovation and improving the overall experience and are therefore a perfect match.