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EVOLUTION TO ACQUIRE GALAXY GAMING, A LEADING INDEPENDENT DEVELOPER AND DISTRIBUTOR OF CASINO TABLE GAMES AND TECHNOLOGY
Evolution AB (publ)’s wholly owned subsidiary, Evolution Malta Holding Limited, (“Evolution”) has entered into an agreement to acquire Galaxy Gaming, Inc. (“Galaxy Gaming”) for a total equity value of approximately $85 million(the “Transaction”), payable in cash.
Transaction highlights and strategic rationale
Galaxy Gaming, a leading developer and distributor of innovative casino table games and enhanced gaming technology solutions, continues to revolutionize the casino industry with its state-of-the-art products and exceptional service. With a diverse portfolio of cutting-edge games, Galaxy Gaming has established itself as a trusted partner to casinos worldwide.
The acquisition is in line with Evolution’s strategy of being the world’s top provider of casino games, supplying its customers with the best gaming content. With the acquisition of Galaxy Gaming, Evolution solidifies its presence in the US market and enhances its position as a leading licensor of proprietary tables games to the online gaming industry.
“We are thrilled to announce the acquisition of Galaxy Gaming, which represents a significant milestone in our mission to provide unparalleled gaming experiences to our customers. Galaxy Gaming’s exceptional products and technology complement our existing portfolio and strengthen our strategic position.” – Martin Carlesund, CEO Evolution AB (publ)
“Evolution intends to retain the management and employees and also plans to operate Galaxy Gaming as a separate and independent business unit,” added Carlesund
“We believe this transaction represents the opportunity to unite two world-class, customer-focused teams in a way that will benefit all stakeholders. It combines Galaxy Gaming’s thriving land-based business, driven by our industry-leading games and progressive technologies, with Evolution’s global reach and innovative online gaming leadership. For years, our collaboration has successfully delivered popular games like 21+3® and LuckyLadies® to millions of players in regulated iGaming markets globally. This acquisition by Evolution empowers Galaxy to sustain and maintain its independence while continuing to focus on growth and expanding its operations, leveragingEvolution’s operational and financial strength to facilitate product sharing and drive cutting-edge omni-channel innovation.“ – Matt Reback, President and CEO, Galaxy Gaming.
Galaxy Gaming has provided guidance of $29.0 – $30.0 million in Net Revenue and $12.0 – $13.0 million in Adjusted EBITDA for fiscal year 2024.
Consideration and financing
Pursuant to the Merger Agreement, Evolution has agreed to acquire all of the outstanding shares of common stock of Galaxy Gaming for$3.20 per share in cash, which represents a premium of 124% to Galaxy Gaming’s closing share price on July 17, 2024, the last trading day prior to the announcement of the Transaction. The Transaction values Galaxy Gaming at at total equity value of approximately $85 million, and approximately $124 million including net debt. The consideration will be financed with cash on hand.
Conditions and time plan for the acquisition
The Transaction has been approved by the board of directors of Galaxy Gaming. Galaxy Gaming board members holding approximately 14%of Galaxy Gaming’s common stock have entered into support agreements to vote their shares in favor of the Transaction.
The Transaction is subject to customary closing conditions, including Galaxy Gaming stockholder approval and certain required gaming regulatory approvals. The parties currently expect the closing to occur in mid-2025, subject to satisfaction of those closing conditions.
Advisors
Evolution has engaged J.P. Morgan SE as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor in connection with the Transaction. Galaxy Gaming has engaged Macquarie Capital as exclusive financial advisor and Latham & Watkins LLP as legal advisor in connection with the Transaction.
The post EVOLUTION TO ACQUIRE GALAXY GAMING, A LEADING INDEPENDENT DEVELOPER AND DISTRIBUTOR OF CASINO TABLE GAMES AND TECHNOLOGY appeared first on European Gaming Industry News.

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Expanse Studios (GMGI) Obtains Croatian iGaming Certification
Expanse Studios, the B2B game development division of Golden Matrix Group Inc. (NASDAQ: GMGI), has received official certification from Croatia’s Ministry of Finance for its flagship game Super Heli, with additional titles in the company’s 56-game portfolio expected to receive approval in the coming weeks for the EU member state.
The certification marks a strategic entry into a market that generated US$484.70m in 2024, with projected growth at a CAGR of 8.4% during 2024-2030. Super Heli, Expanse’s most popular crash-style game, becomes the first of the studio’s titles approved for the Croatian market, paving the way for broader portfolio distribution.
Tapping Into High-Growth European Market
Croatia represents a compelling opportunity for B2B gaming suppliers, with the Online Casinos segment alone projected at US$218.10m in 2024. According to iGamingToday’s latest market research, Croatia’s gambling market will reach €720.42 million by 2025, making it one of Europe’s fastest-growing regulated markets.
Among the key market benefits are:
- Accelerating digital adoption – Internet penetration jumped from 76% in 2020 to 83% in 2023
- Over 20.6 million tourist arrivals in 2023 following Schengen Zone entry
- Over 500,000 Croatians expected to engage in regular online gambling by 2027
Strategic Value for the Company
The certification strengthens Expanse Studios’ European footprint at a critical juncture. With 56 proprietary titles and 500+ B2B partners globally, Expanse is expected to capture a meaningful share in the growing EU market.
“Croatia certification is more than market access—it’s validation of our content quality and compliance capabilities in demanding EU jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “With our flagship title Super Heli already approved and more games in the pipeline, we’re very excited for the opportunities this markets brings us”
Competitive Advantage in Regulated Markets
Croatia’s regulatory framework favors established, compliant B2B providers. Operators must obtain licenses requiring significant capital investment, and only licensed casino games operators who have at least one brick-and-mortar casino can offer online gambling. This creates high barriers to entry and positions certified B2B suppliers like Expanse as essential partners for operators.
The post Expanse Studios (GMGI) Obtains Croatian iGaming Certification appeared first on European Gaming Industry News.
Latest News
Kristina Jakovleva Represents Slotsjudge at iGB London 2025
The iGB London 2025 event is set to push the boundaries of the online gambling market, and Kristina Jakovleva, Business Development Manager at SEOBROTHERS, will represent Slotsjudge. The event is expected to gather over 15,000 attendees and more than 300 sponsors, and Kristina plans to cover technological trends, discuss affiliate marketing strategies, and foster industry-specific networking.
Event Overview: About iGB London 2025
As one of the iGaming industry’s key global events, iGB London brings together thousands of professionals to drive innovation and growth. Following the success of previous editions, with over 6,500+ affiliates and 150+ programs on offer, the upcoming event promises even greater opportunities for business and collaboration.
Over 15,000+ industry specialists are to join the event this time. This year, participants will discuss technological trends, regulatory updates, affiliate marketing, and branding strategies. Participants can gain actionable insights and learn from successful case studies, making the event both exciting and informative.
About Kristina Jakovleva: Expertise & Plans
Starting her career in education at Liverpool John Moores University, Kristina has been in the iGaming market for years, working as a customer support specialist, affiliate manager, and ultimately as a Business Development Manager at SEOBROTHERS.
Years of experience and a focus on growth enabled Kristina to understand which approach best suited the company quickly, and she successfully implemented strategic partnerships and business growth initiatives to benefit from industry-specific networking.
Expectations & Final Thoughts
Attendees can enjoy iGB London 2025 on 2–3 July 2025 at ExCeL London, and an exclusive AI Concierge service will be available to cover basic questions about the event. Nick Hill, Executive Director at Premier Hill, says that ‘it represents the entire industry, and it is a must-attend show.’
It’s an excellent opportunity for the Slotsjudge team to gain performance-driven insights and plan future growth over the next 12 to 24 months, while other participants can learn from Kristina Jakovleva’s work, reinforcing Slotsjudge’s ongoing commitment to innovation and the overall growth of the iGaming industry.
The post Kristina Jakovleva Represents Slotsjudge at iGB London 2025 appeared first on European Gaming Industry News.
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Solitics launches In-Game Pulse for personalised in-play betting offers
Solitics has launched In-Game Pulse, a powerful tool that allows operators to turn real-time sports moments into high-impact engagement with bettors.
With In-Game Pulse, operators can respond to goals, plays and key events with personalised in-play betting offers, delivered to players when their attention peaks, not after.
It’s powered by Solitic’s new Follow Engine, which tracks what each bettor is interested in and then automatically delivers tailored campaigns based on those interests.
This means marketers build just one journey, rather than separate ones for each possibility.
In-Game Pulse works by connecting an operator’s user data with a live sports feed, then the Follow Engine adapts a single flow to match each user’s interests in real time.
Marketers can then trigger journeys based on the most important moments in a game – a goal, red card – as and when they happen, meaning they are no longer limited to just user behaviour.
The best part is that each campaign is tailored to the individual bettor, and based on the teams, athletes and events they care about.
This makes In-Game Pulse the perfect solution for personalised in-play betting engagement.
This is an example of how it works.
A team scores a goal.
All users with that team in their favourites list get notified instantly.
The messaging is kept really simple:
“Big Moment! Your team just scored. Want to double down on the momentum?”.
The great thing about In-Game Pulse is that it’s not a workaround or a third-party add-on; instead, it sits within Solitics’ engagement flows.
This means operators and their marketing teams can deliver hyper-personalised campaigns at peak interest, with the speed and control that Solitics has built its reputation on.
Guy Shemer, VP Product at Solitics, said: “In-Game Pulse will change the game for how marketers engage players with in-play betting communications and offers.
“In the past, they have had to map out multiple journeys, and this has created a tremendous amount of work, let alone the challenge of pushing communications at the right time.
“In-Game Pulse does all the heavy lifting here, allowing marketers to engage players in the moment and when their attention peaks, not after.
“In short, it allows operators to go beyond their own data and react instantly to live sports moments – moments that can drive betting activity.”
The post Solitics launches In-Game Pulse for personalised in-play betting offers appeared first on European Gaming Industry News.
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