Evolution Gaming takes over Big Time Gaming
Another industry-defining deal is about to close following Evolution Gaming’s decision to buy out Big Time Gaming. Evolution is buying BTG for an amount up to 450 million euros, some of which will be paid in cash while the rest with the shares Evolution had previously acquired in the company.
The move to acquire BTG is a sign that Evolution Gaming Group is determined to become the only leader in the iGaming industry after recently receiving another top brand, NetEnt. While it has the technology to continue developing incredible casino games, its newly acquired BTG’S tech, and portfolio will put it on the maps forever. Let’s look at why this deal is a deal of a century.
Who Is Big Time Gaming?
Big Time Gaming is an Australian-based slot machine developer. Its founders are two gents whose combined
experience in the gambling industry has contributed to its success. Although the company is identifiable by the slot titles it has developed, it has also designed roulette variations and blackjack. However, it is after the company developed slot megaways that its reputation hasn’t left punters mouth.
Megaways are video slots with unique engines that promote bigger wins. This megaways mechanic led to the redevelopment of some of the NetEnt games to include the megaways feature. Some of the famous titles from the brand include Extra Chilli, Bonanza, Slot Vegas Megaquads, Book of Gods, and Danger High Voltage.
Who Is Evolution Gaming?
When you see a casino with live casino games, Evolution Gaming is likely powering most of the games. The software developer focuses on creating live casino games for both land-based and online casino platforms. The company has its main offices in Malta and Latvia but has spread to other countries, including the USA, Netherlands, Sweden, and several others. With its 2020 acquisition of NetEnt and now BTG, it’s clear the company is set for the stars. So, what will happen after it takes over BTG?
What to Expect
Looking at the titles these two software developers have created, we can see they are driven by innovation. The companies strive to develop unique, high-tech titles that provide players with an entertaining gaming experience.
With the two coming together, their innovativeness, technology, and game development will only become better. According to Evolution’s co-founder and CEO, Jens von Bahr, adding the BTG slot portfolio will only strengthen the brand’s strategic position in being the leading online casino games provider. By combining Evolution’s culture and Big Time Gaming’s goal of creating unique player experiences, the two companies look forward to developing breathtaking casino games.
Evolution will start by paying 200 million euros, which will be covered as 80 million euros in cash and shares equivalent to 1,120,000 as valued by Nasdaq Stockholm. Evolution will then pay earn-out payments up to 230 million euros in 2023 and 2024.
Evolution’s CEO Martin Carlesund made the acquisition announcement during a conference on April 12, 2021. The CEO also answered several previously gathered questions, including offering a megaways mechanic license to other providers. He assured that the company was