Galaxy Gaming Announces Termination of Merger with Evolution
By Niji Narayan
Published
Galaxy Gaming Inc, the world’s leading independent developer and distributor of casino table games and technology, was notified by Evolution Malta Holding Limited, a company registered in Malta (Evolution) that Evolution terminated the previously announced Agreement and Plan of Merger, dated July 18, 2024, by and among Galaxy, Evolution and Galaga Merger Sub Inc., a Nevada corporation and a wholly owned subsidiary of Evolution (as amended, the “Merger Agreement”). In accordance with the terms of the Merger Agreement, Evolution is required to pay Galaxy a termination fee in the amount of $5,234,678 within two (2) business days of the date of termination of the Merger Agreement.
“While we are disappointed with this outcome, we remain deeply committed to advancing our industry-leading games and progressive technologies. Galaxy is home to a world-class, customer-focused team that remains focused on independent growth for the benefit of all its stakeholders. Over the years, Evolution has been a valued partner to Galaxy, and we look forward to continuing our long-standing relationship,” said Matt Reback, President and CEO of Galaxy Gaming.