Evolution purchases Big Time Gaming

Live casino giant evolution has entered into an agreement to buy Megaways developer Big Time Gaming for a unified amount on up to up to 4.5 billion kroner, accountt i cashis and Evolution shares.

The Agreement is expected to final before the end of the second quarter of 2021.

Ofn total advancepayout as from Evolution is on 2.2 billion kroner, and the company will then pay based on Big Time Gaming's earnings before interest, tax, depreciation and depreciation (EBITDA) for the years 2022/3 and 2023/24. By 2020, EBITDA was for Big Time Gaming of 290 million, with a turnover of 330 million.

The payouts will maximum amount to 2.3 billion kroner and paid in 2023 and 2024 respectively. These must be paid 70 % in cash and 30 % in newly issued Evolution shares.

Prepayment will be paid as DKK 800 million In cash, and the rest in recently, Evolution shares issued. It is expected that the total number of shares such as issue For this will be around 1.1 million.

The law firm Wiggin LLP will act as Evolutions' leading advisor in the transaction, with extra support from Addisons, Deloitte, Ey and Gernandt & Danielsson. Big Time Gaming has engaged Oakval Capital LLP, Teacher Stern and BDO as advisers.

«With additionet By 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, "Jens Von said von Bahr, Chairman of Evolution.

Big Times focus on innovation and creating unique gaming experiences fits perfectly with our culture and mindset i Evolution. We look forward to continuing the journey together.

Nik Robinson, CEO of Big Time Gaming, added: “Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future await our players. ”

The deal ffollows closely after Evolutions acquisition of Industrial giant NetEnt Last year, which was completed in November in an appointment worth 20 billion kroner.

When Evolution first gave its bid on cAsinole provider i Juni 2020, to de and will be signaled their Intention to become "world leader in the online gaming industry".

The results published in February showed that after the acquisition, Evolution reported an increase in income and profit for 2020, with a turnover of 53.4 % to 5.6 billion.

By expenses, taxes and other costs, set the supplier again with 2.8 billion In total profit, up 90.1 % from the previous year.