Evolution Gaming, the industry leader in live casino gaming, has offered to acquire its rival NetEnt, in a $2.1 billion deal. NetEnt shared its public answer, stating that its board of directors unanimously recommended acceptance of the agreement.
Should all go as planned, combining the two companies would strengthen their position in the US online gambling market. We will witness two of the best live casino and online casino software providers merge in a couple of months. Judging by the first-class content they both deliver, it is fair to say that online gambling will get to the next level.
- Evolution Gaming set to acquire NetEnt in a $2.1 billion deal
- NetEnt’s board of directors shared it would approve the offer
- US online gambling market to receive a “World Leader in Online Casino“
Evolution Gaming Is Acquiring NetEnt
Shocking news arrived towards the end of June when two giant online gambling companies announced a possible merger. Evolution Gaming, a live casino gaming leader, sent an open acquisition $2.1 billion deal to NetEnt, another leader in online slot games.
The original offer of USD$2.1 billion, was based on the closing prices of NetEnt’s shares on June 23, 2020, of $8.69. Should NetEnt accept the offer in November, Evolution Gaming would own 90% of NetEnt’s shares.
On the same date, NetEnt shared the board of directors’ open statement, saying they have all approved the deal unanimously. The board has considered several key factors to evaluate the offer, including operational challenges, opportunities and prevailing market conditions.
Both companies shared that they’re not planning on cost-cutting and won’t make any essential changes to their operations and combined workforce.
The deal would have no impact on employees since Evolution Gaming was confident that together with NetEnt’s employees and senior management, they would build a powerful group that would continue to be integral to the combined group’s success.
Why Is Evolution Gaming Buying NetEnt?
According to their statements, the deal has the sole purpose of expanding their reach, especially in the US. Considering both firms had strong US growth in Q1, it should come as no surprise for this deal to propel them to the US online casino market’s top spot.
Jens Von Bahr, Evolution Gaming’s Chairman, said:
NetEnt’s established US positioning combined with Evolution’s existing US studios, and the first-to-regulated-market strategy will put us in a favorable position to capitalize on the ongoing regulation in North America.
Jens Von Bahr
A New World Leader in Online Casino on the Horizon
If you’ve played across top online casinos, you don’t need an introduction to either Evolution Gaming or NetEnt. The two are the leaders in their spheres, and with this takeover, we will witness the birth of the world leader in the online gambling industry.
NetEnt’s Chairman Mathias Hedlund said:
With this deal, there are unique possibilities to shape a leading global B2B provider of online casinos, taking advantage of the market development with continued digitalization and strong growth, especially in North America. Evolution’s position within Live Casino, combined with NetEnt’s position within online slots, will create a company well-positioned to take significant market share.
With Evolution Gaming’s renowned live dealer games and NetEnt’s popular video and progressive slots, we can say that US players would enjoy access to all of these top-notch games in one place.
The Start of an Online Evolution
Considering Evolution Gaming and NetEnt are direct rivals on the online gambling market, this news came as a real shock. Especially in the last couple of years, when NetEnt also started offering live casino games.
All in all, we know that this could mean only one thing: online evolution! With these two combining their forces and experience, online casino players should expect a real boom. The two companies implement cutting-edge technology, have massive teams behind the scenes, and provide only premier content.