Provider revolution in the IGaming scene?
As has now been revealed, Evolution Gaming intends to buy NetEnt to form a massive iGaming construct. In a move that is sure to make waves, Evolution Gaming will look to take over the industry titans NetEnt. This followed a recent acquisition by NetEnt that bought Red Tiger Gaming in the hundreds of millions of euros. Such a new construct would certainly form an impressive team with the aim of becoming one of, if not the, leading online gaming specialist. A deal that can make for truly stunning numbers. Evolution's offer values NetEnt shares at SEK 79,93 (€7,59), resulting in a total deal value of SEK 19,6 billion (€1,96 billion). This in turn corresponds to a premium of 43% on each share.
It is said that in the initial phase Evolution would own 90% of the shares. This will then result in a mandatory purchase of the remaining shares as set out in the Swedish Companies Act. An official offer document will be published by Evolution in mid-August, while acceptance must occur by October 26, 2020. So far shareholders have been positive on both sides and at this point there is little standing in the way of closing the deal. So why the offer? The combination of Evolution, NetEnt and Red Tiger is intended to reduce the annual costs for one person by up to 30 million euros.
First class combination of live games and online slots
Furthermore, the combined portfolio of games will include some of the best live games along with some of the best online slots. Evolution is one of the few live gaming companies that has an eCOGRA certificate and together with NetEnt/Red Tiger slots will radically push the digitization of the casino industry. Jens von Bahr, Chairman of Evolution, said the deal was: “…a significant step towards Evolution's long-term vision to become the global leader in the online casino industry.
Combining Evolution's strong live casino offering with NetEnt's leading position in online slots will result in a world-class portfolio of online games that will enable us to serve a growing customer base.” Mathias Hedlund, Chairman of NetEnt, also commented positively: "This transaction begins a new chapter in the development of a more enjoyable online casino in the best interests of players, operators, employees and shareholders." Joining forces is predicted to dramatically improve cross-selling/upselling opportunities and leverage each other's customer bases to expand markets. The merger opens up new areas of the world, streamlines distribution, and improves customer and game experiences.”
Will Evolution with NetEnt become the dominant force in the online gaming scene?
This meeting could also mean a real hype for the US gaming scene. Since Evolution is currently planning live casino operations in New Jersey and expansion in Michigan and Pennsylvania. Combine that now with NetEnt's already positive presence in the US, and the deal has the potential to open the doors wide in the huge market.
On the subject, Bahr stated, “NetEnt's established US positioning combined with Evolution's existing US studios and first regulated market strategy will put us in a favorable position to benefit from ongoing regulation in North America.”
Mathias agrees: “With this deal there are unique opportunities to shape a leading global B2B online casino provider, capitalizing on the market development with ongoing digitization and strong growth, especially in North America. Evolution's position in live casino combined with NetEnt's position in online slots will create a company well positioned to capture significant market share. Should the deal go through and there are no obvious reasons not to, Evolution will become a dominant force in the online gaming industry.
Afterwards we have listed the best casinos that convince with a lucrative NetEnt offer.
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