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PromotionEvolution Announces Acquisition of Livespins, Expanding its Presence in the Casino Industry
A lot has certainly happened since Evolution was created in 2006, where, like a sudden big win, the company has repeatedly shocked the world with huge acquisitions. In a bold move to cement its position as a leader in the casino industry, Evolution has announced its agreement to acquire the business of Livespins, a pioneering B2B provider of social streaming games. Livespins enables operators to offer their players the unique opportunity to bet behind their favorite streamers, brand ambassadors, and influencers, creating an exciting shared betting experience.
Livespins integrates seamlessly into the operator's casino lobby via API, allowing multiple players to place bets on their favorite streamers. This is similar, for example, to how football fans can bet on different outcomes for their football team, where you can now also team up behind casino streamers, such as CasinoDaddy. If the streamer wins, the players also win, creating an engaging and exciting gaming experience. This innovative approach has attracted much attention and popularity among players and operators alike.
The acquisition, which is valued at €5 million in cash payment, represents a further strategic expansion for Evolution, which has a reputation for acquiring well-known brands in the gaming sector. Recent acquisitions include NetEnt, Nolimit City, Big Time Gaming, Red Tiger, Ezugi, Digiwheel, and now Livespins. These strategic moves have given Evolution a dominant position in the industry and made it almost synonymous with the word 'casino' itself.
Todd Haushalter, Chief Product Officer at Evolution, had this to say:
“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, we will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration. Twitch, YouTube, and other platforms have proven the popularity of live streaming while playing online casino games. We think players would love to play along with them and now that will be possible, right from the Evolution lobby.”
Chris Scicluna, CEO at Livespins, added:
“This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group. Although we have content from 40-plus studios already integrated, we are still in a start-up phase, so to attract the attention of Evolution is incredible. It’s also a reflection of all the hard work that our team has poured into this concept, and the unwavering belief that the Livespins product would revolutionise the industry.”
The closing of the Evolution-Livespins transaction is expected to occur in the first half of 2024, subject to certain closing conditions. The agreement also provides for an earn-out based on Livespins' performance in 2026, ensuring a mutually beneficial partnership between the two entities.
With this latest acquisition, Evolution is poised to strengthen its position further as a dominant casino industry force. The integration of Livespins innovative B2B social streaming gaming platform will undoubtedly enhance Evolution's portfolio and offer players a new level of excitement and engagement.
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