December 20, 2017
Digital Media and Media
Evoke Gaming sold to Mr Green
Led by its flagship brand Redbet, Evoke Gaming is a Malta-based provider of casino, sportsbook, bingo and poker
Evoke Gaming is a Malta-based company providing a complete online gambling offering through its four brands; Redbet, Vinnarum, Bertil and MamaMia. Evoke’s customers are predominantly located in the Nordics, with an increasing share coming from UK and Germany too.
Over recent years the company has undergone significant restructuring and is now set up for profitable growth. In Spring 2017, Evoke migrated its two largest brands (Redbet and Vinnarum) to a new, modern technology platform based on NYX, and since then they have both showed strong growth in their sales KPIs.
Evoke Gaming was previously owned by Sweden-based Bonnier Growth Media.
Mr Green acquires 100% of the shares in Evoke Gaming following a competitive process
The initial purchase price amounts to EUR 7 million, with an additional EUR 1.5 million to be paid as a deferred consideration. Mr Green expects significant synergies and plans to expand Redbet within Mr Green’s existing markets.
Mr Green is listed on Nasdaq Stockholm and is a leading online gaming company with operations in twelve countries. In 2016, Mr Green generated sales of c.EUR 100 million and the company has over 220 employees.
GCA Altium acted as sole advisor to the seller.