Evolution spending $5.4 million to acquire Livespins

Several spinning top toys
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Earlier this week, live dealer games company Evolution reported that its fourth quarter, while strong, had revenues lag compared to 2022. A new move by the group hopes to inject some new tech and potential into the organization.

Evolution is acquiring Livespins, paying a cash consideration for 5 million euros (roughly $5.4 million) along with earn-out payments that will run through 2026.

“This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group,” said Livespins CEO Chris Scicluna. “We are still in the start-up phase of our business and to attract the attention of Evolution, is incredibly rewarding. It also is a reflection of all the hard work that our team has poured into this concept since we launched and the unwavering belief that this product would revolutionize the industry.”

Livespins will retain its name and status as its own company, will just be under the Evolution Group’s umbrella alongisde other brands like NetEnt, Big Time Gaming, Red Tiger and others.

Livespins brings technology to Evolution that allows bettors to back slot streamers when they play online casino games. The technology made its U.S. debut in June 2022, rolling out on the WynnBet Casino platform.

“Livespins is a unique proposition that has shown solid engagement metrics and adoption by players and one we believe will be a great addition to the Evolution portfolio. “Over the years, we have garnered a reputation for identifying new and interesting technology which is why I’m thrilled that we have reached an agreement with Livespins,” said Evolution CEO Martin Carlesund.

Playing along with a streamer is a whole new way to play online casino games. This was on our roadmap, so when the opportunity with Livespins arose, things moved quickly. Bringing together the fantastic tech, processes and know-how of the team at Livespins with Evolution’s huge game portfolio, we will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration. Twitch, YouTube, and other platforms have proven the popularity of live streaming while playing online casino games. We think players would love to play along with them and now that will be possible now, right from the Evolution lobby,” added Evolution’s Chief Product Officer Todd Haushalter.