Evolution acquired Big Time Gaming Recently – Restructuring Starts on Monday!

Evolution acquired Big Time Gaming Recently – Restructuring Starts on Monday! (Image from bigtimegaming.com and evolution.com)

Starting tomorrow, Evolution will begin the restructuring of Big Time Gaming following the firm’s recent acquisition of the leading iGaming slots development company. Long expected, Evolution acquired Big Time Gaming on July 1, gaining the company a further foothold on the video slot vertical following similar purchases of NetEnt, a company that also owned Red Tiger Gaming and Ezugi. An initial agreement was put in place on the 12th of April that would see Evolution purchasing the share capital of Big Time Gaming Pty Ltd.

The purchase of Big Time Gaming was completed for an initial €220 million. That consisted of an upfront payment of €80 million in cash and the issuing of 1,105,032 Evolution shares at a price of 126.72 euros per share to the previous owners of Big Time Gaming. This is the first phase of a purchase that should total around €450 by the end of 2024. The remaining recuperation will come via the EBITDA of Big Time Gaming for the financial years of 2022/23 and 2023/24.

Big Time Gaming is renowned as one of the most innovative iGaming development companies. Focusing purely on video slots, the company is behind the hugely popular Megaways random reel modifier mechanic. Rather than keep this mechanic to themselves, the company leases it out to other developers who want to use it in their own titles. This is why this trending reel mechanic can now be found in over 80 different video slots! One great example is Poseidon Ancient Fortunes: Megaways by Microgaming.