Evolution Gaming Group, a major online gaming provider in the US and abroad, will buy Big Time Gaming for a total of up to EUR 450 million (USD 536 million). This adds Big Time Gaming’s slots, which include Megaways games, to Evolution Gaming’s already dominant portfolio.
“With the addition of Big Time Gaming to our portfolio of slot brands, we strengthen our strategic position as the leading provider of digital casino games in the world,” said Jens von Bahr, Chairman at Evolution. “Big Time’s focus on innovation and creating unique playing experiences is a great fit with our culture and mind-set at Evolution.”
Details About The Acquisition
Evolution will pay an upfront cost of EUR 220 million. The company will then pay the rest based on the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) on Big Time Gaming’s titles and products through 2022/23 and 2023/24. The maximum for the combined years is EUR 230 million.
However, Big Time Gaming’s EBITDA for 2020 was EUR 29 million. If the products perform the same for the next few years, the purchase will be closer to a total of EUR 278 million (EUR 29 million for two years plus the EUR 220 million upfront purchase). The USD equivalent would be roughly $331 million based on today’s exchange rate.
More About Evolution Gaming’s Current Market Position
The purchase of Big Time Gaming’s Megaways mechanics further bolsters Evolution’s massive portfolio. Other Big Time Gaming titles include Bonanza and Extra Chili, which are also currently available at Golden Nugget and other US online casinos.
Evolution also owns NetEnt, maker of some of the world’s most popular slots. These include:
- Divine Fortune
- Gonzo’s Quest
- Blood Suckers
- Dazzle Me
Evolution owns Red Tiger as well, maker of 165 slots titles. Some Red Tiger games, including Dragon Luck and Pirates’ Plenty, are already combined with the Megaways feature.
With Evolution’s addition of Megaways mechanics, which currently boasts million-dollar fixed jackpots at Golden Nugget Online Casino and elsewhere, the company is becoming a dominant force in the US and worldwide.