Evolution Malta Holding Limited, a wholly owned subsidiary of Evolution AB, has formally agreed to acquire all Livespins Holding Ltd’s share capital. This will cost Evolution EUR 5 million, though the company has agreed to an additional earn-out payment that’s based on Livespins’ performance up to 2026. The transaction is expected to be completed by the end of Q2 2024. This is provided that a number of closing conditions are met.
The Evolution of Evolution
Evolution is known for developing and running live dealer games. Its portfolio includes live versions of classic table games as well as game shows and originals. In recent years, Evolution has been diversifying its portfolio by offering animated games. The Livespins acquisition, part of Evolution’s ‘Product Leap’ strategy, represents another step forward for the company. The ongoing aim of the strategy is to bring innovative, forward-thinking new iGaming products and experiences to users and to broaden Evolution’s offerings.
Livespins’ New Way to Gamble
Livespins offers players a new way to bet on slots. With Livespins, players ‘bet behind’ streamers, influencers or ambassadors. The way it works is straightforward: any number of players place a bet on someone playing a slot; if they win, so do the people who have placed wagers on them. It makes the online gambling experience a lot more sociable and interactive by bringing people together and facilitating shared bets.
To use Livespins, players head to the casino lobby where they’ll find Livespins fully integrated just like any other provider. They then select a slot and ‘bet behind’ the streamer. Thanks to the built-in chat feature, players can chat with the streamer playing the game as well as anyone else who’s placed a bet on the streamer’s success.
Going Forward
When the acquisition is complete, Livespins will continue to operate as its own brand as part of the Evolution Group family. This currently consists of: Evolution, Big Time Gaming, DigiWheel, Ezugi, NetEnt, Nolimit City and Red Tiger. Livespins brings a new type of gambling experience to Evolution Group’s already diverse portfolio.
Comments on the Deal
The CEO of Evolution, Martin Carlesund, has said this about the Livespins acquisition:
“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.”
Evolution’s Chief Product Officer, Todd Haushalter, has also commented on the deal:
“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. 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 now, right from the Evolution lobby.”
And from Livespins here’s what CEO Chris Scicluna had to say:
“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.”
Author
James is a freelance writer who’s been specialising in iGaming for over six years. He’s particularly passionate about the gaming side of things, especially slots with lots of features. Over the years, he’s written over a thousand slot reviews and many hundreds of casino reviews. Outside of work, he enjoys hill walking and gaming.
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