Evolution and Gaming Galaxy acqusition not to materialize, Evolution to pay $5.2m fee

• Galaxy Gaming and Evolution have folded their plans to see the latter buy the game developer
• The deal was not completed by the July 17 deadline, following failure to obtain the necessary permits
• Galaxy Gaming has achieved strong commercial growth over the past two years, with both companies remaining on good terms

Evolution Gaming, the company behind blockbuster live dealer games and shows, has announced that it will be withdrawing from its anticipated buyout of game developer Galaxy Gaming.

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

The deal, which was set to be completed by July 17, 2026, at the latest, fell through, with Evolution Gaming backing out of the mulled acquisition and agreeing to pay a $5.2m fee to the company instead.

The exact details of why the deal did not materialize have been shared by both Evolution and Galaxy Gaming officials, with two regulatory permits still not obtained as of Monday, July 20.

Galaxy Gaming’s President and Chief Executive Matt Reback focused on talking about the strong commercial and growth trajectory his company has achieved over the past years, with Evolution Gaming remaining a vital partner.

Originally, the company was looking to buy out the supplier for the sum total of $85m, and spent the last two years since the deal was first announced in 2024 debating the terms.

The deal was subjected to scrutiny by regulators, which led to several extensions of the acquisition window, and the final deadline set for last week finally fell through.

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

Even though the deal will now not come through, Galaxy Gaming will receive a $5.2m fee, while the two companies will continue to collaborate on a variety of agreements - both existing ones and new ones that they may sign- moving forward.

Evolution outlined the development in the company’s quarterly results, with CEO Martin Carlesund commenting on Tuesday and outlining that Evolution has put in the necessary work to acquire the company, but that "due to its size, the transaction is not significant for Evolution."

"The outcome has no material impact on our existing business, our US operations, or our long-term ambitions," Carlesund noted.

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