Game provider Evolution Gaming is bidding on NetEnt
About a month ago, the world-leading game provider in Live Casino, Evolution Gaming, placed a bid on their competitor NetEnt. The offer reached the market at the end of June 2020, with a premium of over 40%. It was a smart move by EVO as NetEnt recently tried to expand its Live Casino portfolio. And since they pay for the company with their shares, it makes the whole thing even more beneficial for Evolution.
NetEnt is also active in the USA, a market that will be very attractive in the future when more states open up for casino online.
The offer: 0.1306 EVO shares for each NetEnt share (approx. SEK 79), which means the deal amounts to around SEK 20 billion.
Furthermore, they also get the game manufacturer Red Tiger Gaming because NetEnt acquired them in 2019. So things are happening in the casino industry, and EVO is strengthening its position.
The NetEnt Board recommends all shareholders accept the offer, which means an attractive deal for all NetEnt owners. It is especially beneficial if you bought shares during the worst corona period when the cost per share was below SEK 16.
No drastic things will happen in the future because of this deal. The slots machines from NetEnt & Red Tiger will continue as usual, and Evolution will stick to Live Casino. Then it brings new markets and opportunities for EVO now with so many games in its portfolio. So the future looks very positive for Evolution Gaming as a gaming company. Then this is not the last deal they will do, so it will be exciting to follow what happens.
Latest news from Evolution Gaming 30/07/2020: The company launches a new exclusive Roulette called Instant Roulette. The game’s idea is that the player will be able to choose the speed of the game. As a player, you can slow down and increase the speed for it to suit your playing style. A big congratulations to everyone who owns or owned shares in these companies, and good luck with the gambling on their games!