Evolution Gaming Acquires Live Casino Competitor Ezugi
The Stockholm-listed company will become the new owner of Ezugi, the 2012-founded live dealer gaming supplier, via an up to USD$18 million deal. Evolution will make an initial payment of USD$12 million, with a possible additional USD$6 million.
The acquisition is set to complete in early 2019 and is expected to increase Evolution’s geographic footprint and facilitate growth in key markets. Evolution is looking forward to a 4% boost in its 2019 revenues.
“It is a very logical next step for Evolution which will increase our market share in key existing markets, like the US, 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,” said Martin Carlesund, CEO at Evolution Gaming.
Ezugi provides B2B desktop and mobile live dealer gaming solutions to online gambling companies, brick-and-mortar casinos and betting shops. Its business covers African, European, Latin American and the US market, which it entered back in 2016. Ezugi streams in six languages from studios in nine different locations across the globe. It has around 100 partners so far and currently offers 20 casino games.
“Ezugi has come a long way since it was founded in 2012 and becoming part of Evolution marks the right next step for us,” said Kfir Kugler, founder and chief executive of Ezugi.
He believed that the merger would allow Ezugi to enhance the quality of its products further.
“Evolution’s superior offering in areas such as streaming quality and speed, user experience, game choice and all-rounded operational excellence will help bring the service to the current Ezugi operators to the next level,”