On the 6th of February 2024, Evolution Gaming announced that the company signed an agreement to acquire Livespins. The gaming development giant is once again expanding its business portfolio with another prospective game provider on the market.
Livespins is an innovative B2B social streaming game provider that allows operators to offer its customers many opportunities. Among the many chances are betting behind their favourite brand ambassadors, streamers, and influencers.
Details About the Acquisition
For the total acquisition of Livespins, Evolution Gaming paid a total up-front consideration of €5 million. In addition, Evolution Malta Holding will need to pay an earn-out based on Livespins’ achievements in 2026.
The plan for the completion of the transaction is set for H1 in 2024. This plan is also subject to certain closing conditions, which won’t cause any trouble for Evolution Gaming.
It’s worth mentioning that Livespins is integrating into the casino’s lobby through API. With it, this provider allows multiple bettors to wager to team up and bet behind the streamer.
This gives them an opportunity to win together. In other words, if the streamer manages to win, then the players will also collect some winnings. This style of betting provides the players with an exciting shared experience.
What the CEOs of Both Companies Had to Say About the Acquisition
Todd Haushalter, Evolution Gaming’s Chief Product Officer, said that playing alongside a streamer is a new way of online casino gaming. He then said that this type of gaming was on their roadmap and when the opportunity arrived, they made sure to move quickly.
The CPO then added that the acquisition provided Livespins with an unparalleled distribution of power through Evolution’s OSS integration. This is thanks to combining the fantastic tech, processes, and know-how of Livespins’ team with the massive portfolio from Evolution.
Twitch, YouTube, and other streaming platforms have proven that online casino gaming is a very popular streaming genre. Haushalter thinks that the players would love to play together with the streamers now that is all possible right from Evolution’s lobby
Chris Scicluna, Livespins’ CEO, also had a say about the company’s acquisition. He stated that this was an unprecedented milestone for the company that made them very happy to join the Evolution Group.
Then he added that their company was still in a start-up phase, although having integrated content from 40+ studios already. Yet, attracting the attention of Evolution was an incredible feeling for the CEO. He also said that it was a reflection of all the hard work they’ve put into the concept.
Evolution’s Net Profit in 2023
A week before the Livespins acquisition, Evolution Gaming published its 2023 results. They showed growth in both the RNG and live divisions, which made them a net profit of 27%. In other words, the company made €1.07 billion in 2023.
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