In a recent development, Evolution has officially terminated its planned acquisition of Galaxy Gaming, a decision announced on July 22, 2025. Initially, the deal was expected to finalize by mid-2025, but the companies could not secure the necessary gaming regulatory approvals before the merger’s deadline.
Evolution, which had aimed to acquire Galaxy for approximately $85 million, sought to enhance its casino table games and side bets portfolio through Galaxy’s proprietary offerings. Despite Galaxy shareholders approving the deal in late 2024, the required regulatory approvals were not obtained within the anticipated timeframe.
In 2025, the companies extended their merger agreement by an additional year, pushing the deadline from July 18, 2025, to July 17, 2026. However, the necessary approvals did not come through by the revised deadline.
As per the merger agreement, Evolution will pay Galaxy Gaming a termination fee of around $5.23 million. During the second-quarter earnings call on July 17, 2026, CEO Martin Carlesund indicated that the acquisition was not a strategic priority for Evolution, stating that the transaction's size rendered it insignificant for the company’s overall operations.
Despite the termination of the acquisition, both companies confirmed that their existing commercial partnership would continue. In 2023, they had already announced a 10-year extension to their collaboration, which allows Evolution access to Galaxy’s table games and technology, including popular side bets like 21+3, Perfect Pairs, and Lucky Ladies.
Galaxy emphasized its commitment to executing its standalone strategy and supporting its customers through its current product offerings.