M&A
Acquisitions, mergers, and divestments.
Eighteen months after its management bought it out of Endeavor, OpenBet is adding a Hungarian supplier that has served World Lottery Association members for over a decade. No price, no customer names and no headcount were disclosed.
The Georgia manufacturer has bought the gaming operations arm of Win Systems, including its Gold Club electronic-roulette business, taking on an installed base across Mexico, Peru, Colombia, Puerto Rico and Panama. Terms were not disclosed, and the deal turns a US regional supplier into a Latin American one overnight.
A binding merger agreement signed in Rome and Barcelona creates the second-largest listed gaming and sports betting operator in the world, on about €2 billion of pro forma EBITDA. Cirsa is valued at roughly 6x.
Germany's Gauselmann group has agreed terms to take control of the Le Stelsia casino group and, with it, listed Société Française de Casinos. The price it has put on the listed shares says more about the deal than the headline value does.
The definitive proxy filed on Wednesday sets a 22 September vote on a sale to the Fertitta group at a price the buyer cut by a dollar in April. It also records that Carl Icahn's group offered $34.00 a share during the go-shop and was not declared a superior bidder.
Two years after splitting itself in half to become a pure technology supplier, GiG is paying €16.4 million for a majority stake in an African operator, funded by an €8.5 million raise it launched the same morning it reported an operating loss of €6.9 million.
Candle Lake offered SEK 695 a share for a stock trading at SEK 824.20, and told the market it is not trying to buy the company. The board agreed, and said so. Kenneth Dart keeps 30% either way.
The vote was close to unanimous on the shares, and the scheme now needs only the Gibraltar court. It puts William Hill, 888 and Mr Green into the same group as Bally's Intralot's lottery and gaming technology business, with completion expected late this year or early next.
An unsolicited cash offer pitched at a 5.7% discount to Evolution's most recent close has put one of iGaming's largest B2B suppliers in play, raising immediate questions about deal rationale, regulatory approvals across multiple jurisdictions, and the future of Evolution's product roadmap.
Tabcorp has struck a AU$283 million deal to buy cloud-native platform BetMakers, with executives telling analysts it was the cheapest, fastest, and lowest-risk path to modernising a technology estate built on ageing on-premises infrastructure. Annual cost synergies of up to AU$30 million are projected within two years.
Evolution has walked away from its roughly $85 million takeover of Galaxy Gaming after two gaming regulatory approvals failed to arrive by the deadline, triggering a $5.23 million termination fee payable within two business days.
Entain has struck a deal to sell an initial fifth of its Central and Eastern European unit to joint-venture partner EMMA Capital, valuing the business at about €2.1bn and beginning a full withdrawal. The proceeds will go toward cutting group debt.