Evolution to acquire rival live dealer supplier in $18m deal

Evolution to acquire rival live dealer supplier in $18m deal

Thursday, November 22, 2018 Posted by News Team
Roulette
Ezugi is only live dealer supplier active in the US aside from Evolution

Live casino specialist Evolution Gaming has struck a deal to acquire Ezugi, a rival live dealer gaming provider. 

The supplier is to pay up to $18m for the business, with an initial all-cash consideration of $12m, followed by a possible earn-out of up to $6m. 

Through the deal Evolution aims to increase its geographic footprint and accelerate growth in key markets. It believes that the deal, which it aims to complete early next year, will grow revenue by up to 4% in its 2019 results. 

“I am pleased about this agreement,” Evolution chief executive Martin Carlesund commented. “It is a very logical next step for Evolution which will increase our market share in key existing markets, like the U.S, where Ezugi’s presence and customer base will add to our on-going market expansion as well as add licensees in new markets, such as South Africa.”

Ezugi is active in a number of territories across Europe, Africa and Latin America, and is the only live dealer supplier to have launched in the US alongside Evolution. Its products are currently available for players in New Jersey and Oklahoma. 

“Announcing this agreement gives me great satisfaction,” Ezugi chief executive Kfir Kugler said. “Ezugi has come a long way since it was founded in 2012 and becoming part of Evolution marks the right next step for us. 

“Evolution’s superior offering in areas such as streaming quality and speed, user experience, game choice and all-round operational excellence will help bring the service to the current Ezugi operators to the next level,” he added.

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