Deal struck: Evolution to purchase Livespins
Evolution Acquires Livespins, Revolutionizing the Online Gaming Industry
Evolution, a leading developer in the live casino sector, has announced the acquisition of Livespins, a startup specializing in real-time streaming integrated with online slots. This move is set to significantly impact the online gaming industry, transforming the solitary experience into a dynamic, community-driven form of entertainment.
Since its launch, Livespins' dedicated team has poured hard work into the concept, creating a platform that features live hosts, brand influencers, interactive chats, betting pools, leaderboards, and innovative features like Bet Behind. This combination enhances player engagement, increases session length, and boosts revenue growth for operators.
With the acquisition, Livespins will now allow streamers to play games from top-tier game studios within the Evolution portfolio. The deal also includes Evolution's One Stop Shop (OSS) integration, providing Livespins with unparalleled distribution power.
Martin Carlesund, CEO of Evolution, expressed his belief that Livespins will be a great addition to the Evolution portfolio. Chris Scicluna, CEO of Livespins, shares this sentiment, expressing his thrill about joining the Evolution Group.
Livespins allows operators to offer players the opportunity to "bet behind" their favourite streamers, influencers, or brand ambassadors. If the streamer wins, so do the players, creating a social betting experience with multiple players participating in the same spin.
This acquisition is an unprecedented milestone for Livespins, reflecting the unwavering belief that its product would revolutionize the industry. The acquisition price is a total up-front cash consideration of EUR 5 million.
The acquisition fits into Evolution's "Product Leap" strategy of bringing product innovation to end users. Livespins will continue as a brand within the Evolution Group, strengthening Evolution's online gaming portfolio by adding a new social category of live entertainment.
Completion of the transaction is planned for Q2 2024, subject to certain closing conditions. This move is expected to drive greater player retention and revenue, solidifying Evolution’s leadership in innovative live casino content.
The acquisition attracts attention to Livespins being in the start-up phase of its business. However, the company has shown solid engagement metrics and player adoption, making it a promising addition to Evolution's portfolio. Todd Haushalter, Evolution's Chief Product Officer, thinks playing along with a streamer is a new way to play online casino games.
The deal also supports key partnerships like the exclusive Hasbro licensing deal that spans live casino and slots content, including Livespins' contributions. This acquisition marks a significant step forward for the online gaming industry, pushing it towards more socially immersive, real-time streaming experiences.
Technology's advancements in the realm of real-time streaming have influenced the sports and online gaming industries, as evidenced by Evolution's acquisition of Livespins. This union between Livespins and Evolution promises to integrate sports-focused live streaming into online gaming, offering players a novel, community-driven experience.
