Evolution AB (publ)’s wholly owned subsidiary, Evolution Malta Holding Limited, has announced it has entered into an agreement to acquire Galaxy Gaming, Inc. (OTC:GLXZ) for a total equity value of approximately US$85 million, payable in cash. Galaxy Gaming is a leading developer and distributor of innovative casino table games and enhanced gaming technology solutions, with a diverse portfolio of cutting-edge games. The acquisition by Evolution is expected to empower Galaxy to sustain and maintain its independence while continuing to focus on growth and expanding its operations. The transaction is expected to close in mid-2025, subject to Galaxy Gaming stockholder approval and certain required gaming regulatory approvals.

Latham & Watkins LLP advised Galaxy Gaming in the transaction with a corporate deal team led by Orange County partners Michael Treska and Darren Guttenberg, with associates Taylor Ashton, Jack Vanderford, David Stepovich, Nilam Faqhir, and Dylan Shamoon. Advice was also provided on benefits matters by San Diego partner Holly Bauer, with associate Lindsey Doyle; on tax matters by Century City partner Ana O’Brien, with associate Eric Song; on regulatory matters by San Diego/Bay Area partner Hanno Kaiser and Brussels counsel Tomas Nilsson, with associate Kevin Wu; and on IP matters by Orange County counsel David Kuiper.