Galaxy Gaming and Evolution Malta Holding Limited have mutually agreed to extend the completion of its merger transaction through July 17, 2026, having originally entered into a deal to acquire Galaxy Gaming for a total equity value of approximately $85m in July 2024.
Both companies expect the transaction to be approved by relevant regulatory bodies during the first quarter of 2026, with Mississippi's approval having been obtained in November 2025.
"We remain fully committed to completing the acquisition of Galaxy Gaming and are confident in the progress toward regulatory approvals. This extension reflects our respect for the review processes of US gaming regulators, and our shared determination to bring two complementary businesses together," Evolution AB CEO Martin Carlesund said.
"Galaxy Gaming's innovative products and technology will strengthen Evolution's position and enable us to deliver even greater value to our customers worldwide. Following close, we look forward to supporting Galaxy Gaming's operation as an independent business unit within Evolution, preserving its unique culture while leveraging our global reach and resources to accelerate growth."
Evolution agreed to acquire all outstanding shares of Galaxy Gaming common stock for $3.20 per share in cash, with the valuation representing a premium of 124% to the supplier's closing share price on July 17, 2024, the final trading day prior to the transaction being announced.
Galaxy Gaming and Evolution stated both entities will continue to work closely with regulatory bodies to "satisfy the remaining required gaming approvals" by July 17, 2026.
"We are energized by the progress toward closing and the tremendous opportunities ahead. This transaction brings together two world-class, customer-focused teams and positions us to deliver exceptional experiences across both land-based and online channels," Galaxy Gaming CEO Matt Reback said.
"With Evolution's global reach and financial strength, Galaxy Gaming will accelerate innovation and growth while preserving the independence and identity that define our brand. Post-close, we will build on our proven collaboration to drive omni-channel innovation and create even greater value for our partners and players worldwide."
With Galaxy Gaming's portfolio, Evolution will look to solidify its presence in the US market and enhance its position as a licensor of proprietary table games to the online gaming industry.
Evolution announced the official launch of its Red Door Roulette live casino offering in the Spanish market on November 13, streamed directly from the gaming supplier's studio in Murcia
