Evolution has terminated its planned $85M acquisition of Galaxy Gaming following the expiration of the July 17, 2026 deadline. The live casino provider confirmed the termination on Tuesday morning and will pay a $5.2M fee to finalize the separation.
Transaction Timeline and Executive Statement
The merger agreement was originally announced in July 2024. On Friday, during the release of quarterly financial results, Evolution chief executive Martin Carlesund stated that the company remained unconcerned about the deadline passing without full regulatory approval. Galaxy Gaming responded on Monday, July 20, by noting that both sides were reviewing available options and that no formal termination had occurred.Carlesund described the transaction as carrying limited strategic importance for the developer. He noted that two years of administrative work had been required to advance the merger, but emphasized that the outcome will not affect current operations, United States expansion, or future objectives. "Galaxy is a great company; however, due to its size, the transaction is not significant for Evolution," Carlesund said.
The provider plans to maintain its current business arrangements with Galaxy Gaming moving forward.