Evolution and Galaxy Gaming have agreed to extend the deadline to complete their acquisition and merger transaction to 17 July 2026.
The extension will allow the companies to secure the remaining regulatory approvals for the transaction, with the approvals expected to be granted in the first quarter of 2026.
The deal was announced in July 2024 and was expected to complete in mid-2025.
The transaction will see Evolution Malta acquire Galaxy Gaming and combine it with Galaga Merger Sub, a Nevada corporation and a wholly owned subsidiary of Evolution.
Evolution and Galaxy Gaming announced the extended timeline on Tuesday and reaffirmed their mutual commitment to completing the transaction.
Evolution chief executive Martin Carlesund said: “We remain fully committed to completing the acquisition of Galaxy Gaming and are confident in the progress toward regulatory approvals.
“This extension reflects our respect for the review processes of U.S. gaming regulators, and our shared determination to bring two complementary businesses together. Galaxy Gaming’s innovative products and technology will strengthen Evolution’s position and enable us to deliver even greater value to our customers worldwide.”
The proposed transaction has already been approved by Mississippi’s gambling regulator.
Matt Reback, CEO of Galaxy Gaming, commented: “We are energized by the progress toward closing and the tremendous opportunities ahead. This transaction brings together two world-class, customer-focused teams and positions us to deliver exceptional experiences across both land-based and online channels.
“With Evolution’s global reach and financial strength, Galaxy Gaming will accelerate innovation and growth while preserving the independence and identity that define our brand. Post-close, we will build on our proven collaboration to drive omni-channel innovation and create even greater value for our partners and players worldwide.”
Shares in Evolution AB (STO:EVO) were trading marginally lower at SEK638.40 per share in Stockholm Wednesday morning.
Shares in Galaxy Gaming Inc. (OTC: GLXZ) gained 9.52 per cent on Tuesday to close at $2.76 per share.