Table Gamers Gear Up for Evolution’s Galaxy Gaming Take Over

We cover the Evolution acquisition of Galaxy Gaming for all you financial buffs and review Galaxy Gaming’s table game portfolio. (Images courtesy of galaxygaming.com)

This week, Evolution announced it would take over the iGaming table game producer Galaxy Gaming for the agreed price of $85 million.

According to the Galaxy Gaming website, over 750,000 players grind on the software providers’ table games across 3,000 online casinos globally.

J.P. Morgan SE and Kirkland & Ellis LLP were hired by Evolution as financial advisors and legal representatives, respectively, to handle the acquisition. As with the previous takeover by Evolution, Galaxy Gaming will retain its brand name, and the company will continue to operate as normal, but with the additional support of Evolution.

According to the Galaxy Gaming website, over 750,000 players grind on the software providers’ table games across 3,000 online casinos globally. This certainly looks like a great deal for Evolution as, across its multi-brand iGaming solutions, the company expands its player base.

On top of this, with Evolution’s reach into sectors of the iGaming industry where Galaxy Gaming’s table games are not yet available, we should see the number of players surpassing the 1 million mark.

In the news report published on the software provider’s website ‘Evolution to acquire Galaxy Gaming’, Martin Carlesund, the CEO of Evolution AB (publ), had this to say about the deal:

“We are thrilled to announce the acquisition of Galaxy Gaming, representing a significant milestone in our mission to provide unparalleled gaming experiences to our customers. Galaxy Gaming’s exceptional products and technology complement our existing portfolio and strengthen our strategic position.”

Acquisition Financial Overview

Galaxy Gaming and Evolution are publicly listed global stock market companies. Evolution shares are available on the NASDAQ Stockholm, while Galaxy Gaming shares are available via the OTCQX market under the ticker symbol GLXZ.

• Financial Guidance: Galaxy Gaming projects $29.0 – $30.0 million in Net Revenue and $12.0 – $13.0 million in Adjusted EBITDA for fiscal year 2024.
• Merger Agreement: Evolution will acquire all Galaxy Gaming shares for $3.20 per share, a 124% premium, valuing Galaxy at $85 million ($124 million including net debt).
• Financing: Evolution has financed this acquisition using cash on hand.
• Board Approval: Galaxy Gaming’s board and members holding 14% of shares have voted in favour of the takeover.
• Closing Conditions: The deal will be finalised once stockholder and regulatory approvals come through, around mid-2025.

Galaxy Gaming Game Titles

The Galaxy Gaming table game portfolio is a mix of card games, roulette and dice, all with a twist to each game. I like the look of these games as they add more engaging features to how you play traditional table games like Hold’em, Baccarat, and Blackjack.

Jackpots

There also appears to be a jackpot system operators can build into these table games. This would be interesting because it would expand on our monthly progressive jackpots report.

Galaxy Gaming Progressive Jackpot Systems

• Stand Alone Progressive
• Multi-Denom Progressive
• Dual-Game Progressive

Where Can You Play Galaxy Gaming Table Games?

For the Casinplusbonus team and some of the players we connect with, we’ve been asked where to find Galaxy Gaming games. Of course, players get excited about testing the new games when new games hit online casinos, especially in the table game vertical, where we see far fewer newcomers versus online slots.

Oddly enough, I ran a search here on Casinoplusbonus and couldn’t find the developer on any of the online casinos we’ve reviewed. In each of our reviews, we have added a ‘Providers’ section in the ‘Quick Facts’ table, so I would assume Galaxy Gaming would have appeared.

Although I have heard of Galaxy Gaming and partake in table games, primarily live games, I still thought I might have found some of the software provider’s games to test. No such luck at this moment.

However, with Galaxy Gaming adding to the long list of brands acquired by Evolution, I suspect we’ll see this brand pop up at online casinos reviewed here on Casinplusbonus.

When I see the software provider’s games hit online casinos, I’ll add it to our upcoming table games software provider guide. Watch this space.

When I start to see the software provider’s games hit online casinos, I’ll add it to our upcoming table games software provider guide. Watch this space.