Evolution, developing software for Live Casino, on Thursday announced the conclusion of an agreement with the manufacturer of games with alive dealers EZUGI. The cost of the transaction is $ 12 million., Another $ 6 million in Ezugi will be invested after the transaction is completed at the beginning of next year.
This acquisition allows Evolution to increase its geographical presence and speed up growth in key world markets.It is expected that in 2019, as a result of this transaction, the company’s income will grow by 2-4%. Evolution Gaming reported that in the third quarter of this year, sales increased by 41% to 64.3 million euros, and the increase in profits amounted to 27% to 21.2 million euros.
Evoltuion Gaming is especially important to nine Ezugi Studios, located in Europe, Latin America, South Africa, and especially in the United States in New Jersey, where gambling online games are liberalized very slowly. New Jersey is interested in what Ezugi has been successfully working in partnership for more than two years with Golden Nugget Casino Atlantic City, these are the leading online casino operators on the market. In recent months, Evolution Gaming also opened a studio there, but with a new acquisition it will be the only provider of Live Casino on the market. At the same time, South Africa is for Evoltuion Gaming a completely new market.
Private company Ezugi with headquarters in Israel is based six years ago. The company offers operators of more than 100 online games and about 20 games in Live Casino.
CEO Evolution Martin Karlesund commented on today’s statement: "I am pleased to enter into this agreement. This is the next step in our evolution, which allows you to increase our market share in existing key markets, such as the United States, and will also add us licensees in new markets of South Africa ".
CEO AND FASTER EZUGI KORFIR KAGLER said: "Announcement of this agreement brings me great satisfaction. Ezugi has passed a long way and becomes part of evolution, marking the next right to us ".