Company Evolution to Take Over Livespins through Acquisition
**Evolution to Acquire Livespins for EUR 5 Million**
Evolution, a leading provider of online casino games, has announced its intention to acquire Livespins, a B2B provider of bet-behind live entertainment for operators. The acquisition is set to take place in Q2 2024, subject to certain closing conditions, and will cost Evolution a total of EUR 5 million upfront, with an additional earn-out based on Livespins' performance in 2026.
Livespins is a live streaming and social casino platform that combines live dealer casino gaming with interactive video streaming. It allows influencers, streamers, and brand ambassadors to broadcast gameplay, engaging their audience through chat and social features. The platform supports multiple game types, including slots and table games, powered by various casino software providers.
The acquisition aligns with Evolution's strategy to identify new and interesting technology and strengthen its online gaming portfolio with a novel way of playing live entertainment. Todd Haushalter, Evolution's Chief Product Officer, stated that playing along with a streamer is a new way to play online casino games and was on their roadmap.
With the acquisition, Livespins will continue as a brand within the Evolution Group, adding a new type of social live entertainment to the group's product offering. Livespins' placement in the industry is further strengthened by the acquisition, providing unparalleled distribution power via Evolution's One Stop Shop (OSS) integration.
Chris Scicluna, CEO of Livespins, expressed excitement about joining the Evolution Group, as it marks an unprecedented milestone for Livespins. Livespins will be joining other brands within the Evolution Group, including NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel.
Martin Carlesund, CEO of Evolution, believes Livespins will be a great addition to the Evolution portfolio due to its solid engagement metrics and player adoption. The acquisition will enable multiple players to participate in the same spin, with the potential to win if the streamer wins. This innovative feature will allow players to play along with their favourite streamers, influencers, or brand ambassadors on Twitch, YouTube, and other platforms.
The acquisition of Livespins by Evolution is a reflection of the hard work and unwavering belief in the product's potential to revolutionize the industry. For the most precise and comprehensive background and feature list, official press releases or Evolution’s corporate communications would be ideal sources, as the search results provided do not contain this specific information.
- The acquisition of Livespins by Evolution, a leading provider of online casino games, is not only a significant step in the company's business strategy but also a testament to the fusion of online gaming, technology, and finance, as they aim to revolutionize the industry.
- With the integration of Livespins, a live streaming and social casino platform, Evolution Group's product offering expands to incorporate a novel way of playing live entertainment, potentially opening new avenues for investment and revenue within the online gaming sector.
