Big Times Gaming is considered one of the leading developers of slot machines. The company’s portfolio offers a wide range of innovative and fresh slot titles. Fans of the game will immediately recognize the world-famous titles as Bonanza and Extra Chili. The developer’s revolutionary gaming mechanism Megaways™ is used in more than 200 games.
According to Jens von Barhr, chairman of Evolution Gaming, adding Big Time Gaming to the provider’s slot title portfolio will significantly improve their position as online gambling solution providers. According to him, the two companies share a similar mindset of innovation and a desire to create a new and fresh gaming experience for gambling enthusiasts.
Slot developer posted revenue of EUR 33 million and EBITDA of EUR 29 million in 2020. And the company’s acquisition will positively contribute to the game provider’s 2021 EPS. Evolution Gaming is willing to pay up to 220 million euros for the contract, according to the report, and in the future the company is expected to pay proceeds based on slot designer’s EBITDA.
It was reported that the prepayment would consist of EUR 80 million in cash and the rest would be paid in newly issued shares of a prominent content provider. The shares included in the prepayment are valued according to the average rating of Nasdaq Stockholm shares from March 23 to April 7, 2021.
Since 70% of the acquisition is paid in cash and the remaining 30% is paid in newly issued stocks, the earnings-out agreement is also paid in part in cash. Again this time, the value of the stock will be valued according to the Nasdaq Stockholm rating and will be determined by that price when the stock is issued.
a major influence
Evolution Gaming’s gaming content leader has previously agreed to provide Alberta with an online gaming delivery portfolio. This was made possible by an agreement with Alberta’s gaming regulator Alberta Gaming, Liquor & Cannabis Company. While land-based casinos remain closed, residents will be able to enjoy fan favourite titles like Roulette, Infinite Blackjack, Baccarat and Ultimate Texas Holdum.
The company is a major part of Quebec’s online services due to its 2019 deal with Lotto Quebec. The partnership allowed lottery companies to use the game provider’s premium service set and launch live casinos on the platform. The company also has British Columbia and Manitoba as partners in Canada and is delivering top-notch content to even more people in Canada.