Evolution has signed a contract with social streaming game provider Livespins, according to which Evolution is set to acquire Livespins for €5 million. Livespins allows players to ‘bet behind’ on social media streamers wagering on gambling games – which is a new concept for Evolution.
Broaching the Subject of Streaming
Online casino streaming is not a new concept, but it hasn’t been a part of Evolution’s betting offer until now. Namely, Evolution has acquired Livespins, a company that specializes in gambling on streaming. Namely, streamers that are gambling online are followed by a large crowd of players, but Livespins allows the audience to wager on the streamers. If they succeed, then they all win together – the audience and the streamers! It’s a relatively new concept with a lot of room for experimentation, but there’s no doubt Evolution is going to bring the concept far. Moreover, Livespins now gets a chance to work with a large gambling game provider, which is a major feat for a company that’s still relatively young.
CEO of Livespins Chris Scicluna talked briefly of the new deal: “This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group. Although we have content from 40-plus studios already integrated, we are still in a start-up phase, so to attract the attention of Evolution is incredible. It’s also a reflection of all the hard work that our team has poured into this concept, and the unwavering belief that the Livespins product would revolutionise the industry.”
New Horizons
According to the latest press release, the total cost of the transaction is up-front cash consideration of €5 million. Moreover, the completion of the transaction is planned for the first half of 2024. Finally, Todd Haushalter, Evolution’s Chief Product Officer, commented on the new deal: “Playing along with a streamer is a whole new way to play online casino games. This was on our roadmap, so when the opportunity with Livespins arose, things moved quickly.”
He continues, “Bringing together the fantastic tech, processes and know-how of the team at Livespins with Evolution’s huge game portfolio, we will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration. Twitch, YouTube, and other platforms have proven the popularity of live streaming while playing online casino games. We think players would love to play along with them and now that will be possible, right from the Evolution lobby.”
