Evolution Prepares to Acquire Big Time Gaming
Evolution Gaming, one of the leading companies in the field of online gaming, has recently entered into an agreement to acquire Big Time Gaming, the studio that is known for innovative and popular slot games. The acquisition is to take place soon.
WHAT BIG TIME GAMING CAN BRING TO EVOLUTION?
Big Time Gaming (also known as BTG) is a popular Australia-based software developer that has been in the industry since 2011. The company is certified in several trustworthy jurisdictions, like the United Kingdom and Canada, and has a big fan base due to a fresh approach to the creation of casino entertainment and unique mechanics used in its slots. Moreover, the studio is an impactful member of the gaming community with a range of partners. Thus, it cooperates with such software providers and operators as OpenBet, NYX, Core Gaming, Leander Games.
The company boasts a big portfolio that incorporates more than 200 games, and some of them lead innovation in the industry. One of such releases is Star Clusters Megaclusters. This slot features 4x4 and a mundane valuables theme. The key innovation here is the mechanics that offers cascading wins with a special twist: symbols that create a winning combination are replaced by clusters of icons instead of a usual single symbol.
Thus, Big Time Gaming’s approach to gaming fits perfectly the strategy and mindset of Evolution. The studio will diversify Evolution’s portfolio and allow the company to offer top-notch slots to players in multiple operators across the world. “Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits for our players,” said Nik Robinson, CEO, Big Time Gaming.
FINANCIAL HIGHLIGHTS
In addition to being a valuable contribution to Evolution’s portfolio, Big Time Gaming is a reasonable investment. The company’s revenue amounted to €33 million in 2020.
The consideration payable by Evolution was €220 million. Based on Big Time Gaming’s EBITDA for the years 2022/23, this company is to provide earn-out payments that account for a maximum of €220 million. These payments are to be made in 2023 and 2024.
The acquisition is currently in progress. It is expected to be completed in Q2 2021.
Moreover, Evolution works on the extension of live casino offerings and adds innovative Power Blackjack to its “Infinite” suite.
Source. Press Release, published on the 12th of April 2021.
