Evolution Gaming, the developer of live casino games on the internet, yesterday announced a public offer to acquire NetEnt for $ 2.12 billion. Thus, Evolution offers 0.1306 shares for each NetEnt share, so it would go on to manage 90% of the company.
lthough the period to accept the offer will last approximately two and a half months, which begins next August and will end in the last days of October; NetEnt's board of directors has recommended the offer to its shareholders.
Evolution Gaming AB expects the agreement to generate annual cost savings of approximately € 30 million and thus achieve earnings per share in 2021.
On the offer made, Jens von Bahr, President of Evolution Gaming, said: “This strategic deal marks a significant step towards Evolution’s long-term vision of becoming the global market leader in the online casino industry. The combination of Evolution’s strong offering in Live Casino with NetEnt’s leading position in online slots will result in a world class portfolio of online games that will enable us to serve a growing customer base. ”
Along the same lines, the president of NetEnt, Mathias Hedlund, stated: “Recently, NetEnt has vastly improved its tech and product development capabilities and thus its growth prospects and at the same time reaching a strong position within the US states that have opened up for online casino ”.
Both executives agree when affirming that the combination of the capacity and potential of these companies, will result in a leading supplier with a privileged position in markets as important as the North American one.
In Hedlund's words: "With this deal, there are unique possibilities to shape a leading global B2B provider of online casino, taking advantage of the market development with continued digitalization and strong growth, especially in North America."
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