In the online gambling space, imitation is not the sincerest form of flattery; being acquired is! Evolution Gaming has just recognised Livespins as a leader in its field with a multi-million Euro buyout offer.
It's incredible that HappyHour’s CEO, Robin Reed, revealed an exciting new venture to bring live slots engagement to the online casino space only slightly over two years ago. Yesterday this fledgling company, Livespins, announced that they had been acquired by one of the largest gaming companies in the world for €5 million!
Livespins Finds a Fitting New Home
Longstanding fans of online gambling will remember a time when RNG games were your only option. Then came Evolution Gaming, who shook up the industry by making it possible to play your favourite table games with a live dealer while interacting with your fellow players!
Building on this love for live gaming experiences, Martin Carlesund, CEO of Evolution, said:
Quote“Over the years, we have garnered a reputation for identifying new and interesting technology, which is why I’m thrilled that we have reached an agreement with Livespins.”
With that in mind, it makes sense for Livespins to join the Evolution family. After all, they are a company that connects online slot fans with their favourite gambling streamers inside casino lobbies rather than on a standalone streaming platform like Twitch.tv or Kick.com.
Chris Scicluna, CEO of Livespins, said:
Quote“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.”
Scicluna took a moment to praise his team, adding:
Quote“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.”
While the finer details of the agreement are yet to be revealed, the press releases of both companies have confirmed that the acquisition will cost Evolution €5 million in cash, plus an undisclosed “earn-out based on Livespins’ performance 2026”. The deal is set to be completed during the second quarter of this year.
Enhancing Evolutions Impressive Portfolio
While the agreement is a fantastic result for the Livespins team and aligns with Evolution’s mission to grow and enhance the live casino interaction space, we wanted to know what it meant for players.
Todd Haushalter, Evolution’s Chief Product Officer, clarified:
Quote“Playing along with a streamer is a whole new way to play online casino games. 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.”
Adding that:
Quote“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.”
There is no doubt that thanks to its acquisition of Netent and approximately forty other studios, Evolution boasts an incredible selection of instant, progressive, and video slots. Adding Livespins parallel betting technology will further enhance an already impressive experience.
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