Landmark acquisition in the works as Evolution set to snap up Megaways masterminds Big Time Gaming
iGaming giants Evolution look set to acquire Australian slot developers Big Time Gaming for up to €450 million (£389.0m/$534.5m) in both cash and Evolution shares in a big-money buyout that's shook the online casino industry.
This marks the second monumental move Evolution have made in the last twelve months, having officially acquired legendary slot development studio NetEnt in December of last year for €1.8 billion euros.
Who are Evolution and why are they growing so rapidly?
Evolution (formerly known as Evolution Gaming) are a world-renowned casino game development studio that has traditionally focused on creating high-quality live casino games for online casinos around the world.
In 2020 the company made headlines as they announced bold plans to work towards becoming 'the global market leader in the online casino industry', this started with the acquisition of the biggest iGaming studio in the world NetEnt, creator of some of the world's best no wagering slots.
It's not yet known whether they plan to create online slot games under the Evolution name, as NetEnt (and Red Tiger Gaming) have continued to operate and release new games on a regular basis under their own branding.
Who are Big Time Gaming?
Big Time Gaming are a modestly sized Australian iGaming development studio that was formed in 2011 by industry veterans Nik Robinson, Huw McIntosh and Ian Schmidt. The trio first started out creating high-paying non-jackpot slots before moving onto creating their own game engine that stood out from the rest of the crowd.
In 2015 the company introduced the world to Megaways slots, a new type of slot that allows players to play with an absolutely incredible 116,749 ways to win. Such has been the success of the Megaways mechanic over the years that countless online slot developers have licensed the Megaways mechanics to add to their own games, giving old favourites a whole new lease of life, and new games an extra element over other releases.
The company has enjoyed multiple awards and continued growth over the last few years since releasing Megaways, and it comes as absolutely no surprise that they've explored other avenues with innovative game mechanics since.
What do the two companies have to say about the landmark acquisition?
Jens von Bahr, chairman of Evolution said: “With the addition of Big Time Gaming to our portfolio of slot brands we strengthen our strategic position as the leading provider of digital casino games in the world.
“Big Time’s focus on innovation and creating unique playing experiences is a great fit with our culture and mindset at Evolution. We look forward to continuing our journey together.”
Nik Robinson, chief executive at Big Time Gaming, added: “Evolution and Big Time Gaming are both driven by innovation, hence the perfect match. A bright and entertaining future awaits our players.”