As part of its continuing ‘Product Leap’ strategy, Evolution has bought Livespins, the innovative social streaming provider.
As part of this deal, Evolution will pay an up-front cash consideration of $5.4M (€5M/£4.3M), with an earn-out payment based on the performance through to the end of 2026.
An Unprecedented Milestone
Filling a unique position, Livespins gives its players a chance to ‘bet behind’ their favourite streamers while they play online casino games, and if they win you also win. This gives players an extra level of engagement and thrill when they’re in the game.
Chris Scicluna, CEO of Livespins has said “This is an unprecedented milestone for Livespins, and we couldn’t be happier to be joining the Evolution Group. We are still in the start-up phase of our business and to attract the attention of Evolution, is incredibly rewarding. It also is a reflection of all the hard work that our team has poured into this concept since we launched and the unwavering belief that this product would revolutionise the industry,”
Following the acquisition, streamers will be able to play games from the entire Evolution portfolio, giving them access to a host of top-tier content to enjoy.
>>> “Livespins is a unique proposition that has shown solid engagement metrics and adoption by players and one we believe will be a great addition to the Evolution portfolio“
Evolutions Roadmap
Commenting on the purchase, Todd Haushalter, the Chief Product Officer of Evolution said “Playing along with a streamer is a whole new way to play online casino games. This was on our roadmap, so when the opportunity with Livespins arose, things moved quickly. Bringing together the fantastic tech, processes and know-how of the team at Livespins with Evolution’s huge game portfolio, will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration.”
This continues a strategy that has been driving Evolution throughout the whole of 2023, and into 2024, where they have declared the intention to acquire more studios to their wider group. With a net profit surpassing €1bn last year, the process seems to be working for them.
When speaking about the deal, Evolution CEO Martin Carlesund said “Livespins is a unique proposition that has shown solid engagement metrics and adoption by players and one we believe will be a great addition to the Evolution portfolio,” while adding “Over the years, we have garnered a reputation for identifying new and interesting technology which is why I’m thrilled that we have reached an agreement.”
Continuing as its own brand, Livespins will operate under the umbrella of other Evolution acquisitions like NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City and DigiWheel brands. This will provide viewers and players unparallelled access to over 40 top games while keeping the original feel and quality of a unique product.
With the deal set to go through by the end of Q1 2024, this has been a fast-paced and interesting purchase for one of the world leaders in online casinos. Adding to its already impressive catalogue, Evolution is continuing to grow into new markets and technologies.
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