Evolution acquires live dealer gaming company Ezugi.
Evolution Gaming is one of those rare companies that has been climbing ever higher since its inception 13 years ago. From a small studio in Riga, Latvia in 2006, its founders took a quality-centric approach and have since spread their industrious live casino products across four major continents.
Their latest growth came by way of acquisition. Evolution’s executives announced back in November 2018 that an agreement had been reached with the owners of Ezugi, another live dealer casino group with a smaller wingspan, but highly equitable property value in key markets. As of this week, Evolution Gaming has closed the deal, accepting Ezugi into the fold.
Evolution Expands Live Dealer Gaming with Ezugi
Although Evolution Gaming is the larger company by far, operating many more tables from its famous live dealer studios in Latvia, Malta, and B.C., Canada, taking control of Ezugi’s studios extends its reach so much further. Ezugi operates in numerous markets, including Europe, Latin America, South Africa, and the US states of New Jersey and Oklahoma.
Evolution doled out an initial consideration of $12 million for the Ezugi group and its live casino games. An additional consideration of up to $6 million could also be paid, if certain conditions are met. Either way, the world’s leading live gaming operator is projecting the acquisition will add an additional 2-4% growth to their overall 2019 earnings.
Ezugi is only about half as old as its new parent company, founded in 2012 by a group of veterans from all over the live and digital gaming industry. The company has since provided state-of-the-art live dealer solutions, connecting online and land-based operators with players via desktop and mobile.
Since the company formed 7 years ago, Ezugi has launched 9 live casino studios across the globe, streaming 20 live dealer game variants for more than 100 operators worldwide. No doubt, with the industry’s leading and most decorated operator of live casino gaming at the helm, Ezugi’s product line has nowhere to go but up.
Such were the sentiments of Ezugi founder and CEO, Kfir Kugler, who notes:
“Evolution’s superior offering in areas such as streaming quality and speed, user experience, game choice and all-round operational excellence will help bring the service to the current Ezugi operators to the next level.”
Strategic Move Sets Evolution Gaming in Key Markets
Martin Carlesund, Chief Executive at Evolution Gaming, voiced his pleasure over finalizing the deal. “I am pleased about this agreement,” he said, viewing the acquisition as the “very logical next step” in Evolution’s mission to expand into additional markets.
Carelsund says this carefully calculated move “will increase our market share in key existing markets, like the U.S., where Ezugi’s presence and customer base will add to our on-going market expansion as well as add licensees in new markets, such as South Africa.”
Jens von Bahr, founder and Chairman of Evolution Gaming, couldn’t agree more with his CEO’s assessment of their latest live dealer gaming acquisition.
“This strategic deal will see Evolution increase its geographic footprint and accelerate growth. It will enable us to fast-track the accessibility to Evolution’s top-ranking software as well as to support continued industry leadership by adding well-established development teams and operational resources.”
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