Evolution Gaming buys Big Time Gaming for €450 million!
Evolution Gaming is the name behind some of the biggest and best live dealer casino games, and it’s been on a spending spree of late. Back in December, Evolution bought game developer NetEnt for an estimated €1.91 billion, taking its slot catalogue to the next level.
This €450 million deal might seem small compared to the NetEnt deal, but it will have major impact on the bitcoin slot world thanks to some of the great technology that Big Time Gaming has under the hood.
Get Ready for Megaways Galore!
Big Time Gaming have a feature known as Megaways whereby you have thousands of lines that you can play on each spin, with the total number of lines changing every spin. They often make deals with other slot developers to bring this tech to their games, but with this new deal, we could see that technology used to the max outside of Big Time Gaming’s own games.
NetEnt already has a few slots with the Megaways feature, but now that they’re both under the Eveolution brand, we could start to see more and more titles come out from NetEnt with this feature – something that we’re super excited at the prospect of. Big Time Gaming doesn’t presently support crypto play, so this deal becomes more exciting as we could see more developers that support crypto get their hands on the Megaways tech, meaning more excitement for bitcoin slot players!
What’s in the Deal?
The deal is still coming to a conclusion, but Evolution will pay €220 million right off the bat. It will then pay earnt-out payments based on Big Time Gaming’s earnings before interest, tax, depreciation and amortization (EBITDA) for 2022, 2023 and 2024. Given that Big Time Gaming’s EBITDA for 2020 was €33 million, we can assume that the deal will work out close to €450 million. In that deal, 70% of the money will be paid in cash, while the remaining 30% will be issued in new Evolution shares.
Evolution has made it clear that it wants to become the world leader for online casino games, and this latest acquisition shows that it’s committed to achieving that goal. We can expect the deal to be completed by the end of June 2021, and Evolution’s touch coming to Big Time Gaming’s titles for the second half of the year.
Exciting times ahead!
