Evolution’s pursuit of world domination shows no signs of slowing down as they have revealed a £390 million takeover bid for Big Time Gaming has been accepted.
The offer, made up of cash payments and Evolution shares, will see the Swedish behemoth acquire the rights to Big Time’s raft of innovative slot titles, which includes Who Wants to Be a Millionaire and Bonanza.
The firm is also behind the ‘Megaways’ game mechanic, which helped to transform online slot games from a rigid payline-based structure to a more fluid and open system for devising winning lines. At the time of writing, Megaways has been implemented in more than 200 individual slots.
It’s another sign of Evolution’s appetite for gobbling up some of the best names in the online casino sector, with Big Time Gaming recording revenue of nearly £30 million in 2020 alone.
Jens von Bahr, the chairman of Evolution, was naturally delighted with the deal.
“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 said.
“Big Time’s focus on innovation and creating unique playing experiences is a great fit with our culture and mind-set at Evolution. We look forward to continuing our journey together.”
The assumption is that Big Time Gaming will continue to operate as normal, producing slot games under their own name. As Nik Robinson, the CEO of Big Time Gaming, pointed out:
“Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits for our players.”
It’s fair to say that the past year has been a good one for Evolution.
The events of 2021 and 2021 have ramped up their profitability and enabled them to acquire NetEnt, arguably their biggest rival in the sector at the time of the deal finalised in December.
Keen to bolster their presence in the U.S. market, 2021 has witnessed Evolution pen deals with a number of land-based operators in America, enabling them to make the move online.
Also on board are the Cordish Gaming Group, proprietors of Hard Rock Casino properties in Hollywood and Florida. Evolution will supply their live casino platform to the brand, plus their unique first-person RNG titles, as Cordish looks to roll out its PlayLive! Channel in Pennsylvania.
Another slightly unexpected agreement has been signed with the Canadian Bank Note Company, who are best known for literally providing the Bank of Canada with its cash. They also run various state-controlled lotteries and charitable gaming operations, and Evolution are on board as the live casino supplier.
As if all of that good news wasn’t enough, they had more positive publicity when it was revealed that Richard and Ian Livingstone – the secretive UK based billionaires – had invested more than £600 million in the firm to become one of its biggest private shareholders.
Today, their shareholding has nearly doubled in value to £1.4 billion, and they own approximately 17% of the company.