Evolution ended its planned acquisition of Galaxy Gaming after two outstanding gambling regulatory approvals prevented the deal from closing within the agreed period. Evolution will pay Galaxy a $5.2 million termination fee; the companies plan to continue their existing business relationship, Evolution said.
The termination ends a proposed acquisition while leaving the companies' existing business relationship in place.
Quarter ended 30 June 2026
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It was reported that Evolution gave notice ending its Galaxy Gaming merger agreement. Evolution agreed to a $5.2m termination fee.
It was reported that Galaxy Gaming is considering extending or ending its merger agreement with an Evolution subsidiary after the planned closing date passed. Neither side had terminated the agreement.
Evolution AB has ended its previously announced acquisition of Galaxy Gaming after the deadline to close the transaction passed. Evolution published a notice announcing termination of the deal, and the report was updated to include a response from Galaxy Gaming and Evolution's intention to end the merger.
It was reported that Black Cube cited Evolution’s UKGC settlement and failed Galaxy Gaming acquisition as support for its case against Evolution. The intelligence agency made the argument in a filing dated 3 August.
The UK Gambling Commission considered suspending Evolution's licence before the two sides reached a €4.75m regulatory settlement. The regulator cited serious weaknesses in Evolution's anti-money laundering controls, according to a follow-up from the Commission. Evolution's $85m acquisition of Galaxy Gaming appears to have collapsed after two years of work.