Evolution Gaming Acquires Its Greatest Rival in Live Casino Ezugi

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Staff member
May 3, 2008
Evolution Gaming, one of the leading game software providers in the online gambling industry and the top Live Casino solutions provider announced to acquire its greatest rival gaming company, Ezugi. Ezugi is another one on the list of top live dealer gaming providers. The initial deal consideration of $12 million can turn up to a possible additional consideration of $6 million.

Why Ezugi?

Ezugi has launched almost 7 years ago and offers 20 web and mobile live casino games. Although it is a private gaming company, it has never disclosed its financial performance.

But currently, Ezugi is a Curacao-regulated live casino games provider that delivers B2B mobile and web live dealer solution to over 100 online operators, betting shops and brick-and-mortar casinos. It operates in nine live casinos in several regions around the world, in the US, more precisely Oklahoma and New Jersey, Latin America, Europe and South Africa.

Ezugi made its first debut in the US two years ago, courtesy of the partnership with Golden Nugget Casino in Atlantic City. Since Golden Nugget is a leading casino operator, the partnership helped Ezugi build its first American online casino in New Jersey.

The CEO and founder of Ezugi, Kfir Kugler has issued a statement saying that this agreement with Evolution gives him great satisfaction, mainly because he knows he’s leaving his company in good hands. He adds that Ezugi has come a long way since 2012, and this acquisition would mean the next step for the company. Evolution’s superior offering, Kugler says, in all the areas such as game choice, streaming speed and quality, all-around operational excellence and user experience will help bring the live casino services to the current Ezugi-operated casinos to the next level.

Evolution’s Press Release

Evolution confirmed the acquisition of Ezugi’s business on November 21, 2018, not long after rumours started spreading all over the internet, saying that this deal will increase Evolution Gaming’s geographic presence and increase growth in target markets. They expect the deal to add 2 to 4% to 2019 revenues, and to add a slight accretion to Evolution’s earnings per share during the same year.

This announcement arrives just three months after Evolution has made their first launch in Atlantic City, New Jersey, opening its ninth studio in total, within the US online gambling market. Since November 2018, Ezugi and Evolution are the only Live Casino games providers operating in the US online gambling market.

So, this deal will speed Evolution’s growth up though added market shares and product development, as well as operational capability in markets where Evolution already operates, such as the US, but also Romania.

Statements Issued by Evolution’s Founder and CEO

The Chairman and founder of Evolution, Jens von Bahr said that this strategic deal will help Evolution expand its geographic footprint and will speed its growth up. The deal will enable them to fast-track Evolution's software accessibility and support ongoing industry leadership with the addition of the well-established operational resources and development teams.

On the other hand, the CEO of Evolution Martin Carlesund added that he’s really pleased about the deal since it will help Evolution accelerate growth and increase market share in important existing markets, such as the United States of America, where Ezugi is already well-established and its customer base and presence will add to Evolution’s continued market expansion and add licensees in brand new markets, like South Africa. Carlesund says that this deal is actually the very logical next step for Evolution.

When Will the Acquisition Be Completed?

The completion of the purchase transaction is planned at the beginning of 2019 and is subject to additional closing conditions. Having in mind that Evolution's Q3 revenue report was up 41% year-on-year to $64.3 million and its profit was rising 27% to $21.2 million, the sum of $12 million plus the possible additional $6 million for the acquisition of Ezugi almost looks unnoticeable.

The competition and the regulatory pressure has led to many acquisition and merger deals lately. In this case, having in mind the live dealer casino games are in high demand by online casino players, the deal of Ezugi and Evolution seems like an awesome solution since both of their high-quality game portfolios will give more players the chance to access them and play them.

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