Evolution and Galaxy Gaming Extend Merger Deal to Mid-2026

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Evolution and Galaxy Gaming have agreed to extend the agreement for their pending merger through to July next year to allow additional time to secure relevant regulatory approvals.

In July 2024, Evolution struck a deal to acquire all outstanding shares in Galaxy for $3.20 per share. This valued the supplier at approximately $85 million, or $124 million including net debt.

Evolution initially hoped to complete the purchase in mid-2025. However, this has now been pushed back to next year, with a new ‘outside date’ of July 17, 2026 agreed – allowing the two parties to secure all remaining regulatory clearances.

The two companies anticipate the deal will be approved by relevant regulatory authorities during Q1 2026. The most recent approval came n Mississippi, which signed off on the proposed merger earlier in November.

Evolution and Galaxy expect the deal to close shortly after the new outside side. Should this be the case, Galaxy will survive as a wholly owned subsidiary of Evolution.

Evolution ‘Fully Committed’ to Galaxy Deal

Martin Carlesund, chief executive of Evolution, sought to ease concerns about the delay. He said that the company is “fully committed” to the acquisition of Galaxy.

“This extension reflects our respect for the review processes of US gaming regulators, and our shared determination to bring two complementary businesses together,” he said. “Galaxy Gaming’s innovative products and technology will strengthen Evolution’s position and enable us to deliver even greater value to our customers worldwide.

“Following close, we look forward to supporting Galaxy’s operation as an independent business unit within Evolution. This will preserve its unique culture while leveraging our global reach and resources to accelerate growth.”

Galaxy CEO Matt Reback added: “We are energized by the progress toward closing and the tremendous opportunities ahead. This transaction brings together two world-class, customer-focused teams and positions us to deliver exceptional experiences across both land-based and online channels.

“With Evolution’s global reach and financial strength, Galaxy Gaming will accelerate innovation and growth while preserving the independence and identity that define our brand.”