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Evolution's acquisition of Gaming Galaxy will not proceed, and Evolution will pay a $5.2 million fee.

Galaxy Gaming and Evolution have decided to abandon their plans for Evolution to acquire the game developer. The deal fell through after the July 17 deadline because the necessary permits couldn't be obtained.

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Summary

  • Galaxy Gaming and Evolution have decided to abandon their plans for Evolution to acquire the game developer.
  • The deal fell through after the July 17 deadline because the necessary permits couldn't be obtained.
  • Over the past two years, Galaxy Gaming has experienced significant commercial growth, and both companies have maintained a positive relationship.
Evolution Gaming, the company known for its hit live dealer games and shows, has announced its decision to withdraw from the eagerly awaited buyout of game developer Galaxy Gaming.

Evolution Gaming and Galaxy Gaming’s deal falls through as regulatory approvals are missing

The deal, originally set to be finalized by July 17, 2026, collapsed when Evolution Gaming withdrew from the proposed acquisition and opted to pay a $5.2 million fee to the company. Both Evolution and Galaxy Gaming officials disclosed that the deal faltered because two regulatory permits remained unmet as of Monday, July 20. Matt Reback, President and CEO of Galaxy Gaming, highlighted his company's impressive commercial success and growth over recent years, emphasizing that Evolution Gaming continues to be a key partner. Initially, the plan was to acquire the supplier for $85 million, and for the past two years since the deal's announcement in 2024, the terms were heavily debated. Regulatory scrutiny delayed the acquisition multiple times, and ultimately, the final deadline passed without completion.

Galaxy Gaming and Evolution to remain on good terms, pursue growth

Although the deal won't go through, Galaxy Gaming will still receive a $5.2 million fee, and the two companies will continue to work together on various agreements, both current and future. Evolution detailed this development in its quarterly results. CEO Martin Carlesund remarked on Tuesday that while Evolution has made efforts to acquire the company, the transaction is not significant due to its size. This outcome does not materially affect our existing business, our US operations, or our long-term goals, Carlesund stated.

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This article was researched and published by the Editorial Team under our Editorial Policy.

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