Dutch Gaming Solutions' Development Evolves in Arcadia
In a stunning move, Evolution Gaming Group has announced its plan to acquire Arcadia Gaming Solutions (AGS), an iGaming tech company hailing from Amsterdam. The acquisition, expected to be finalized by the end of 2024 (pending approval), will set AGS back a cool €2.5 million in cash, with additional dividends due in 2027 based on AGS's performance.
AGS, initially founded in 2019 and operated by Arion Labs, is famous for its flagship product, Fortune Pusher. This trailblazing company transformed classic arcade games into live online casino experiences, establishing a brand-new category of online games. Their mission statement? "Combining creative energy, deep experience, and unparalleled technical capabilities, our team consistently delivers immersive experiences with unique and innovative games." These timeless games are expected to remain popular for years to come.
AGS's technology also includes worldwide video streaming, which allows players to interact with physical arcade machines in real-time using any desktop or mobile device. Evolution praised this tech as offering a "unique and engaging online experience."
This isn't Evolution's only acquisition this summer. The company has set its sights on becoming the world's leading casino game provider and announced plans to acquire Galaxy Gaming in an $85 million deal. The transaction is due to close by mid-2025, with projected net profit for Evolution standing at €29-30 million.
Martin Carlesund, CEO of Evolution, expressed his excitement for the future, stating, "We look to 2024 and beyond with excitement, hunger, and ambition. We will continue to invest, recruit, and expand our operations globally."
Last year, Evolution generated a staggering €1.8 billion in revenue, with live casino games accounting for 84.7 percent. In Q2 2024, Evolution's operating income reached an impressive €508.4 million, up 15.3 percent year-on-year. This remarkable growth helped the company surpass €1 billion in revenue in the first half of 2024, indicating their strong financial performance and resilience, despite employee strikes and Union intervention.
Even as the gaming landscape evolves, AGS's innovative approach and focus on immersive gameplay set it apart. With Evolution's backing, the future seems bright for this dynamic company. Let's just hope the games never stop coming!
By 2025, Evolution Gaming Group plans to complete the acquisition of AGS, an iGaming tech company based in Amsterdam, which was announced in 2024 for €2.5 million in cash. AGS, renowned for its flagship product Fortune Pusher and trailblazing technology that streams worldwide video for real-time interaction with physical arcade machines, aims to deliver immersive experiences with unique and innovative games. This acquisition is expected to contribute to Evolution's goal of becoming the world's leading casino game provider.
