Evolution's Bet on Livespins: Merging Streaming and Betting
Business Deal: Evolution Agrees to Purchase Livespins
Here's the deal: Evolution's gearing up to snap up Livespins, a B2B provider that enables operators to let players bet on their favorite streamers. The cash consideration? A cool €5 million upfront, with an earn-out depending on Livespins' performance in 2026.
This transaction, set for Q2 2024, fits snugly into Evolution's "Product Leap" strategy. They're all about pushing boundaries and bringing innovative products right to the end-user. Livespins' addition bolsters Evolution's online gaming portfolio, bringing a fresh social category of live entertainment with a unique betting twist.
Once part of the Evolution Group, Livespins remains a standalone brand alongside Evolution, NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel. This adds a new type of player experience to the group's offerings.
So, what's the deal with Livespins? They're innovators in live entertainment. They allow operators to offer players a chance to "bet behind" their favorite streamers, influencers, or brand ambassadors, turning passive viewers into active participants. This social betting experience lets multiple players join the same spin. If the streamer wins, they all win.
This acquisition solidifies Livespins' role in the industry. Streamers, now, can play games from top-tier game studios within the Evolution portfolio, a significant advantage considering the 40+ studios already integrated.
According to Marty Carlesund, Evolution's CEO, "Livespins is a unique concept that's shown solid engagement metrics and player adoption. This acquisition will be a remarkable addition to our portfolio." Todd Haushalter, Evolution's Chief Product Officer, adds, "Playing alongside a streamer is a whole new way to play casino games. With Livespins, we'll offer this exciting new experience to players, thanks to Evolution's vast game portfolio."
Chris Scicluna, CEO of Livespins, is ecstatic: "Joining the Evolution Group is a game-changer for us. It's an incredible honor to attract Evolution's attention and a testament to the hard work by our team."
In the cutthroat online gaming industry, Evolution's move to acquire Livespins marks a strategic play to provide a unique, interactive gaming experience, expand into new markets, and stay ahead of the innovation curve.
Technology integration in Evolution's business strategy is strengthened with the acquisition of Livespins, merging online gaming and finance through the unique concept of social betting, thereby venturing into a new player experience in the digital entertainment sector. The financial transaction involves an upfront payment of €5 million, with further earnings dependent on Livespins' performance in 2026.
