Word renowned live casino software provider Evolution Gaming has completed the acquisition of Net Entertainment, another giant online gambling games provider in the industry. Evolution Gaming which is one of the top suppliers of live casino games in some of the best gaming websites in India has taken shareholding approximately 96.8% shareholding in NetEnt.
NetEnt accepted 19.6 billion Swedish kronor ($2.2 billion) or approximately 171.6 billion Indian Rupees. This means that Evolution would take control of 90% of NetEnt’s corporate shareholding at SEK 79.93 or INR 122.45 per share.
Evolution had announced its interest in acquiring NetEnt last June 2020.
In September, the UK’s Competition and Markets Authority (CMA) began investigating the proposal submitted by Evolution. In November, Evolution has received approval from CMA.
The acquisition offer had been declared unconditional on 23 November, and the offer had been completed.
In addition, NetEnt has also requested for the delisting of its shares from Nasdaq Stockholm.
After the successful acquisition, Evolution will now offer products from four brands namely Evolution, Ezugi, NetEnt, and Red Tiger.
Therese Hillman, the current CEO of NetEnt, will continue to work to support the integration of the companies, however, she is scheduled to leave the company after the first quarter of 2021.
The impact of Red Tiger acquisition
In September 2019, NetEnt agreed to purchase Red Tiger Gaming which another well-known online gambling software provider. Many analysts believe that the integration of NetEnt and Red Tiger Gaming is one of the biggest reasons why Evolution became interested in the acquisition.
Before the integration, Red Tiger gaming was speculated to grow at a rate of 50%. When NetEnt took over Red Tiger Gaming, Net Ent has shown considerable growth. Experts believe that Evolution will also benefit from Red Tiger’s growth.
Evolution gaming which is focused on offering live casino solutions to different online casinos will be able to penetrate the slot market. Experts believe that the company has limitless possibilities since the company is offering products from four brands.
About Evolution Gaming
Evolution Gaming software provider company was founded in 2006. While it’s a bit later than many of its contemporaries, the online gambling games provider managed to grow as one of the reputed companies in the gaming industry.
Evolution expertise is providing live casino solutions. Since its inception, the company set a new standard for live dealer games. The company offers live dealer version of well-known casino games like craps, blackjack, roulette, baccarat, poker, Sic Bo, and Dragon Tiger.
The company also pioneered the game show category. These are entertaining games that we usually saw on television. The category is composed of game titles like MONOPOLY Live, Lightning Roulette, Deal or No Deal Live, Mega Ball, and Crazy Time.
Another new category created by the company is First-person. These are simply the table games powered by Random Generator (RNG). The game includes craps, football studio, Dragon Tiger, Baccarat, Mega Ball, Dream Catcher, roulette, and blackjack. The company is using top-notch graphics to make the game enjoyable.
With its quality online gambling solution, Evolution has garnered many accolades over the years. They’ve won the EGR B2B Awards’ Live Casino Supplier of the Year for 11 years in a row. In 2020 they have crowned Online Casino Supplier of the Year at the Global Gaming Awards. The company also won Innovation in Casino Entertainment for their product Crazy Time at SBC Awards 2020.