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Evolution Gaming vs. Light & Wonder - Legal Dispute Over Roulette Innovations
Evolution Gaming Purchases Rivalry Ezugi
November 23, 2018 Jim Murphy
Evolution Gaming has a goal to rule over the United States live casino market. And earlier this week, they have made it possible…
…because they have purchased their only rival in that field – Ezugi
Stockholm-based company will spend up to $18 million! Initially, they will play $12 million whereas the additional payment of up to $6 million is possible.
In the meantime, Ezugi hasn’t spent too much time on the market but they made their presence felt. The company was established in 2012 and they have acquired some partners in New Jersey and Oklahoma.
Crucial Move
It will take some time for the buying process to be completed. According to Evolution, that should get finalized in the beginning of 2019.
This move is crucial for the leading provider of Live Casino solutions. Not only will it spread its geographical reach…
…but it will also have a chance to increase the revenue in hot markets!
And speaking of the profits, the firm expects a boost of up to a 4 percent.
Evolution’s CEO Martin Carlesund made a comment regarding the official announcement: “I am pleased about this agreement. It is a very logical next step for Evolution which will increase our market share in key existing markets, like the U.S, where Ezugi’s presence and customer base will add to our on-going market expansion as well as add licensees in new markets, such as South Africa.”
Battle is Over
Currently, Evolution and Ezugi are the only Live Casino providers which are active in the United States. Ezugi has entered the US market in 2016 but that company has had some great deals in Africa, Europe and Latin America as well.
They provide 20 games have around 100 operators. Euzegi functions well independently and they were taking their share of the cake, which is why…
…Evolution Gaming founder and executive Kfir Kugler likes the idea of a takeover. He believes that it will benefit EG greatly.
He pointed out: “Announcing this agreement gives me great satisfaction. Ezugi has come a long way since it was founded in 2012 and becoming part of Evolution marks the right next step for us.”
“Evolution’s superior offering in areas such as streaming quality and speed, experience, game choice, and all-around operational excellence will help bring the service to the current Ezugi operators to the next level,” concludes the founder.
Busy Year
As 2018 draws to a close, it is fair to state that Evolution had a busy year. At the beginning of November, it has managed to sneak in New Jersey by g an agreement with The Stars Group Incorporated.
But that’s not all they have been up to.
In October they earned the “Product Innovation of the Year” at G2E in Vegas. Winning this prestigious award is an absolute honor and the fact that they managed to beat nine other candidates proves the worth of a Lightning Roulette game they came up with.
Source:
“Evolution Gaming to Acquire Ezugi”, evolutiongaming.com, November 21st 2018
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This is great for Evolution Gaming and they are doing a fantastic job. However, not having any competition in the US is never a good thing…hope they don’t become lazy over time.