Another Big Industry Deal
Evolution, the industry-leading developer of live casino content, has signed a deal to acquire Livespins share capital in a move worth an initial $5m.
Livespins is one of the industry’s hottest companies, allowing players to ‘bet behind’ live streamers in their favourite games.
Product Leap
Evolution has recently released its Q4 revenue figures, and it is fair to say business is booming for the in-demand provider. It turned over €475.3m in revenue and €337m in EBITDA in Q4 2023, which is a 16.6% year-on-year growth. It stated that the demand was almost too much to keep up with, but has intentions to continue growing at its impressive rate.
The company has said that it is now entering its ‘product leap’ strategy over the course of the next few years, with aims to expand the types of products it can offer and the companies that it acquires.
Livespins is an excellent company to kickstart this strategy with. It is still very much in its start-up phase and has a lot of growth potential as a unique product on the market. When integrated with a casino, Live Spins allows players to join streams and ‘bet behind’ their favourite streamers. This involves placing the same bets as the streamers, with the product putting a huge emphasis on the social aspects of iGaming.
As per this deal, Livespins team of streamers will now have complete access to Evolution’s full portfolio of products to use in their streams. This includes the 40+ studios that are part of Evolution’s wider family.
A Unique Company
Live Spins' unique approach to the iGaming industry has clearly not gone unnoticed, with this being one of the many things that caught Evolution’s attention. Evolution CEO Martin Carlesund spoke about the deal, saying, “Livespins is a unique proposition that has shown solid engagement metrics and adoption by players.”
Carlesund added that Evolution has developed a habit of noticing new and interesting technology, and that they feel Livespins product fits that mould.
Livespins CEO Chris Scicluna expressed his excitement at the deal. He said that the move was an “unprecedented milestone” for the company and that they couldn’t be happier to be partnering with an established industry veteran like Evolution.
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