Evolution AB has successfully completed its acquisition of Big Time Gaming Pty Ltd, following the receipt of all necessary regulatory approvals. The transaction, valued at EUR 140,030,000, was executed through a combination of cash and Evolution shares. In line with this, Evolution's board has issued 1,105,032 shares to Big Time's sellers, with a subscription price of EUR 126.72 per share, based on the volume weighted average price from March 23 to April 7, 2021. This acquisition is expected to enhance Evolution's strategic market positioning.
Evolution reported strong first-quarter results for 2021, with operating revenues up 105% to EUR 235.8 million and EBITDA increasing by 150% to EUR 160.1 million, a margin of 67.9%.
The profit for the period reached EUR 132.0 million and earnings per share before dilution were EUR 0.62. Post-period, Evolution announced the acquisition of Big Time Gaming, which strengthens its market position. Regional growth was notable, especially in Asia and North America, and the integration of NetEnt has been successful.