Evolution Acquires Livespins in a $5 Million Deal
Online casino players almost always have new things coming their way. One of the latest exciting additions to the online gaming sphere is Livespins, which creates more social engagement online.
As the leader of live gaming, Evolution quickly stepped to the front with a deal to acquire the game provider.
Evolution Acquires Livespins and Expands Its Offering
Just recently, the king of live casino entertainment completed its acquisition of live slot streaming software provider, Livespins. The deal is sealed with an upfront cash deal of €5m, with the deal taking place via its subsidiary company, Evolution Malta Holding Limited.
Evolution also agrees to pay an earn-out on Livespins’ performance in 2026 in the acquisition deal. The deal comes with a few closing conditions, seeing that it will only be completed within the second quarter of 2024.
This year, Evolution continues to expand its collection and grow its reach with the mission plan, including a Product Leap strategy. The strategy helps strengthen their position in the market with a larger game selection. And adding live spins will definitely be a benefit as it adds a new social category of live entertainment.
Evolution’s CEO, Martin Carlesund, states that Livespins is a unique scheme with solid engagement metrics and player interaction. This is a good sign, driving the company to add it to its already impressive game offering.
Livespins CEO Chris Scicluna expressed joy on the acquisition, saying that they couldn’t be happier to join the Evolution Group and that this is an unprecedented milestone for Livespins, seeing as they are still a start-up. Scicluna continues to say that this only reflects the team’s dedication and hard work since they first launched.
A few games from studios in the Evolution portfolio will be available with Livespins as part of the acquisition.
In the Spotlight: RNG of Evolution Games
A recent announcement revealed that Evolution’s net profit had breached the €1 billion barrier. The company’s growth is thanks to its live and RNG sectors.
Regulus has expressed concern regarding Evolution’s failure to execute its RNG strategy, specifically pointing to its acquisition of NetEnt and the work released since. Regulus says that the RNG performance is almost embarrassing and that NetEnt has still not been turned around.
While the live casino revenue climbed to 28.1%, bringing in €1.52 billion, the RNG only increased by 2.6%, bringing in €275,4 million. There was also a 3.7% fall in RNG revenue in the fourth quarter.
Regulus states it might be time to ask tough questions, such as what value the division adds to the group and sector under Evolution ownership. Thinking long-term, their industry growth could suffer if the content price is set too high and fails to deliver growth.
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Evolution Acquires Livespins FAQs
🎰 Will additional games be included in the Livespins offering?
Yes, in light of the new acquisition, games from Evolution’s portfolio will be added to the Livespins offering.
💰 When is the Evolution x Livespins acquisition expected to be complete?
The acquisition of Livespins by Evolution is expected to be complete by the second quarter of 2024.
💎 How is Evolution’s RNG sector doing?
Evolution’s RNG sector is a current cause for concern in terms of industry growth, with NetEnt still not being turned around for the better.