Swedish online casino provider Evolution Gaming announced it has agreed to buy Australia-based online slot game developer Big Time Gaming for up to €450 million ($534.8 million).
Big Time Gaming, whose game titles include Bonanza and Extra Chilli, had revenues of €33 million in 2020, and logged EBITDA of €29 million.
Evolution Gaming, the leading provider of “live” casino systems, which also develops and licenses casino games such as online slot machines and roulette games, said the total up-front consideration was €220 million, of which it would pay €80 million in cash and the rest in newly issued shares.
“The transaction is estimated to contribute positively to 2021 EPS for the Evolution Group,” Evolution Gaming said in a statement.
The company, which last year bought Swedish peer NetEnt in a $2 billion deal, predicted the transaction will be complete in the second quarter.
