Evolution Gaming is, it seems, on a quest to conquer the world. The trailblazer in the live casino sector has publicly made an offer to buy NetEnt shares two days ago.
Are we looking at a potential union of the world’s two biggest game developers?
Two days ago, NetEnt announced that Evolution Gaming made an offer to buy NetEnt shares. NetEnt’s board of directors have gone over the offer and publicly advised the shareholders to take the offer.
Evolution Gaming offer consists of 79.93 crowns per share. Evolution is ready to pay SEK 19.6 billion (USD 2.12 billion). This price that the live casino brand offered is a premium of 43% over NetEnt shares value.
The decision and consequently offer to purchase NetEnt shares most likely comes from Evolution’s move to expand its business. According to Reuters, Evolution will likely save around USD 30 million each year in cost savings. By 2021, the brand predicts it will have positive earnings per each purchased share.
It is not certain whether NetEnt shareholders would accept the offer. However, the board of directors pushed them forward and openly encouraged the acceptance of the deal. A great benefit of the deal is that, for each NetEnt share, Evolution is offering them 0.1306 Evolution shares.
As this could be potentially a massive deal, the official offer has an official acceptance period that starts in August. NetEnt will have until October to reach a final decision regarding the generous offer that Evolution submitted.
The union of the two brands would indeed be massive. Evolution Gaming is an industry leader in the live casino department, while NetEnt is an expert at slots. If they combine their expertise and influence, they would be at the top of the global industry.
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