The Evolution gaming experience is the pinnacle of online casino entertainment. Whether you want to play live dealer table games or innovative live game shows, the company provides players with a wide range of options at stake levels to suit all budgets.
The company started life as a European-only operation, but has grown into the global leader in the space with nine major studios, 2,500 dealers and over 1,000 dedicated client tables (at end of 2021). Their state-of-the-art Riga facility is the largest such venue in Europe.
It has also invested heavily in technology to ensure that the experience is as close as possible to playing in a land-based casino. Players can bet in a number of different currencies, the table is displayed in 3D and there are multiple camera angles to choose from.
A full range of games are available including roulette, blackjack, baccarat and Casino Hold’em. The company also offers intensive training for its croupiers to make sure they are friendly and entertaining. In addition to this, the company has developed a mobile-optimised experience to provide players with a smooth transition to playing on a smartphone or tablet.
Another major Evolution gaming development is the fact that the company has expanded into the US market. It already has a studio in New Jersey and a second is planned for Connecticut this year. The combination of its own studios with NetEnt’s strong presence in the US online casino industry will accelerate the growth of the combined company into this key area.
As a result of its expansion into the US and its investment in technology, the company is seeing impressive top-line growth. Its earnings before interest and taxes (EBITDA) grew by more than 50% last year, and the company expects EBITDA to grow by over 50% again this year.
The company has a relatively low capital expenditure (capex) of less than 6% of sales and generates substantial free cash flow. The combination of these factors gives the company a very attractive balance sheet, which is why it was able to take advantage of an opportunity to acquire NetEnt and significantly accelerate its international growth.
The acquisition of NetEnt will be completed via a share swap, with Evolution offering 0.1306 shares in Evolution for each NetEnt share. The Offer is conditional upon the receipt of approval from the NetEnt shareholders. The Offer is subject to certain other customary terms and conditions, including that the offer must not exceed a maximum value of EUR 750 million and that it is not made to entities with more than 15% of the voting power in the company at the time of the Offer. The full text of the Offer is available at http://www.evolutiongaming.com/investor-relations.php. The Offer is open to all eligible shareholders of NetEnt, except for institutions and those persons whose ownership is excluded by applicable laws. The Offer will close at the close of business on 26 October 2020.
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