In the past few weeks, we’ve seen significant developments in both the US and UK gambling markets. For example, New York has officially passed online sports betting, aiming to generate $500m in revenue. On the other hand, the UK Gambling Commission has launched a three-year plan to protect players and the public from gambling harm.
Among these circumstances was the announcement of Bally’s agreement to a £2 billion merger with Gamesys. If completed, the merger would capitalise on the growing iGaming and sports betting market in the United States.
Now, it was reported that Evolution Gaming Group has entered into an agreement to acquire Big Time Gaming for £389 million.
Strengthening the position as leading slots provider
Evolution Gaming is a Sweden-based company that produces, markets and licences online casino solutions to gaming operators in Europe and the United States.
The company recently announced that it will add another significant member to its community as it entered an agreement with Big Time Gaming. Namely, Evolution will acquire the entire issued share capital of Big Time Gaming for up to £389 million (€450m).
Big Time Gaming is a well-established slots provider that developed the popular game mechanic Megaways, which is incorporated into hundreds of games from multiple providers. Some of the most popular Big Time Gaming titles include Bonanza as well as Extra Chilli.
Jens von Bahr, chairman of Evolution Gaming, said that the addition of Big Time Gaming to the company’s portfolio will strengthen the position as the leading slots provider in the world. He added that Big Time’s focus on innovation and unique gaming experiences is a great fit for Evolution’s culture and mindset.
Nik Robinson, CEO of Big Time Gaming, added that a bright and entertaining future awaits the players as both Evolution and Big Time Gaming are driven by innovation. Both companies have plans for future products to keep up with the latest slots trends.
For the calendar year 2020, Big Time Gaming revenue amounted to €33 million with an EBITDA of €29 million. It has been estimated that the transaction will positively contribute to 2021 EPS for Evolution Group. The earn-out consideration will be payable 70% in cash and 30% in newly issued Evolution shares.
Pragmatic Play partners with White Hat Gaming
In the meantime, it was reported that Pragmatic Play has partnered with White Hat Gaming to provide its slots and casino products across the platform provider’s estate. Pragmatic Play is a leading provider of the iGaming industry with a wide range of slots games.
The White Hat network will gain access to the popular Pragmatic Play titles such as Sweet Bonanza and the John Hunter series of slots. Moreover, Pragmatic Play will provide its collection of live dealer games and its TV show-themed titles including Mega Wheel and Mega Roulette.
Bhotesh Maheshwari, Vice President of Commercial Strategy and Operations at Pragmatic Play, commented on the partnership and said that the company’s multi-product portfolio continues to offer an engaging experience for players of all tastes.
White Hat Gaming chief commercial officer Andy Whitworth added that the network has been impressed with Pragmatic Play’s desire to work with them. He added that the network looks forward to implementing Pragmatic Play’s games on the platform.