Evolution Gaming, a well-known provider of live casino solutions, has signed a contract to acquire Ezugi, a competitor in the live dealer gaming market. Ezugi is owned by Evolution Gaming. The cash transaction was finalized with an initial consideration of US$12 million, and it is anticipated that the price will increase by an additional US$6 million the following year. According to the information provided by the purchaser, this acquisition would make it possible for the company to expand its geographic presence in the United States of America and accelerate expansion in a number of other important areas. It is anticipated that they will have an increase in sales of between 2% and 4% in 2019, as well as an increase in their earnings per share for the following year.
Ezugi is currently operating from a number of studios located all over the world. The company provides web live dealer and B2B mobile solutions to a variety of online gaming companies, land-based casinos, and betting shops. The states of New Jersey and Oklahoma in the United States, as well as a number of countries and regions in Europe and Latin America, are among its markets. The acquisition will result in a significant acceleration of Evolution’s growth thanks to the acquisition of additional market shares, coupled with product development and expanded operational capabilities in existing areas such as the United States of America and Romania.
One and Only One Is Possible
This statement was made only a few short months after Evolution Gaming entered the online gaming business in the United States, building its 9th studio worldwide in the city of Atlantic City in New Jersey. They verified in a statement that, as of this point in the year, there is only one other company that is now functioning in the US market with them, and that once they acquire it, they will be the only ones operating in the US market moving forward.
The Chief Executive Officer of Evolution Gaming, Martin Carlesund, expressed his satisfaction with the transaction, stating that he views it as the natural next step for his firm because it will allow them to increase their market share in existing markets. He explained that the client base and presence of Ezugi would contribute to the company’s expansion, and that it would also provide licensees in new regions, such as the market in South Africa.
In addition, Jens von Bahr, Chairman and Founder of the company, stated that the transaction was a strategic one that would grant the company expedited access to the superior software that his organization developed. He went on to explain that it will also provide support for sustained leadership in the industry, thanks to the inclusion of well established operational resources and development teams. He said that this was something that he was looking forward to.
Kfir Kugler, the Chief Executive Officer and Founder of Ezugi, voiced his contentment with the transaction as well. He stated that his company had come a long way since its inception in 2012 and that merging with Evolution Gaming was unquestionably the appropriate next step.