Galaxy Gaming shareholders have approved Evolution’s acquisition of the company. The Las Vegas-based company holds patents for numerous casino table games and side bets, some of which Evolution has licensed for its live dealer products.
Pending regulatory approvals, the transaction is forecasted to close in mid-2025.
Evolution announced plans to buy Galaxy Gaming for $85 million in July. Galaxy’s board members approved the $3.20 per share offer, representing a 120% premium over the stock’s trading price at the time. The deal needed shareholders’ approval to finalize the sale. Once completed, the Las Vegas-based company will become a privately held company under the Evolution umbrella.
Evolution Gains Control Over Popular Side Bets
According to its website, Galaxy Gaming is the “world’s largest independent developer and distributor of casino table games and technology.” It’s known for its patented side bets, such as the 21+3 blackjack side bet, Perfect Pairs, and Lucky Ladies. Some are already available in Evolution live dealer games in the US, as the two companies have worked together for several years and extended their partnership for another 10 years in May 2023.
By bringing Galaxy in-house, Evolution will have complete control over these popular side bets and a larger portfolio of unique table games. One big advantage for Evolution in acquiring Galaxy is that it will eliminate the need to pay licensing fees. It also means that Evolution can make some of those bets exclusive to its games if it so chooses.
Online casino players in the US and abroad can expect Evolution to introduce even more innovative side bets and games to its live dealer games once Galaxy is operating in-house.
Evolution may also incorporate side bets or unique games into its secondary live dealer brand, Ezugi, which it acquired in 2018. In the US, Ezugi is currently available only in New Jersey. However, it plans expanding its US presence with a new studio set to launch in Michigan next year, followed by an entry into Pennsylvania. Earlier this year, the company also launched in Ontario.
Another Addition to Evolution’s Subsidiaries
Evolution has become a behemoth of the casino supplier space due to an aggressive acquisitions strategy.
Galaxy joins a growing list of Evolution subsidiaries. In addition to Ezugi, notable names in Evolution’s portfolio include NetEnt and Big Time Gaming. The former is behind some of the most popular slots at online casinos, including Divine Fortune, Mercy of the Gods, Starburst, and Gonzo’s Quest. Meanwhile, Big Time Gaming holds the patent for the Megaways slot mechanic, which have up to 117,649 ways to win.
Other slot developers under Evolution’s umbrella include Red Tiger and Nolimit City. The former has many slots at US casinos and provides daily timed jackpots in states like Michigan and New Jersey. Meanwhile, Nolimit City, which recently made its US debut, develops edgier slots aimed at younger audiences.
Other innovative companies Evolution owns include Livespins and Digiwheel. Livespin is a unique concept that allows players to bet behind their favorite streamers and influencers. Meanwhile, Digiwheel develops patented HD spinning gaming wheels.
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