Posted on: May 16, 2023, 11:16h.
Last updated on: May 16, 2023, 12:47h.
Las Vegas-based Galaxy Gaming, a business-to-business (B2B) developer and distributor of casino slots and table games, as well as online gaming products, announced Tuesday a new 10-year partnership with Evolution Group. The pact will see Galaxy table games be incorporated into Evolution’s portfolio of live dealer table games that the firm runs remotely from its various iGaming studios.
Evolution is a Swedish-based iGaming B2B outlet that facilitates live dealer table games and interactive slots over the internet. The company hires table game dealers who run games from Evolution’s various studios.
In the US, Evolution offers live dealer online table games in New Jersey, Pennsylvania, Michigan, and West Virginia. Galaxy’s new partnership with Evolution will allow Galaxy’s table games and their patented side bets to come to the Evolution studios. Galaxy and Evolution previously partnered for Galaxy to provide Evolution with interactive slots.
Extending our long-standing partnership with Evolution aligns with our focus to deliver the best table game content to everyone, everywhere,” said Todd Cravens, president and CEO of Galaxy Gaming. “Evolution continues to develop a robust catalogue of top-performing and innovative titles. We are delighted to continue to be a part of this impressive product portfolio and thrill their players with our world-famous games.”
The Galaxy-Evolution agreement will bring many of Galaxy’s popular table games to the Evolution platform, including 21+3, Perfect Pairs, Lucky Ladies, Double Ball Roulette, Texas Hold’em Bonus Poker, and Caribbean Stud.
Evolution Revenue Soaring
The pandemic wasn’t good for most business sectors, but there were some exceptions, and one was most certainly iGaming. While brick-and-mortar casinos were forced to close in 2020, the states where online casinos were allowed to operate in 2020 thrived amid the coronavirus.
Being a market leader in operating live dealer table games over the internet, Evolution saw its gross revenue climb from €375.8 million (US$408M) in 2019 to more than €561.1 million (US$609M) in 2020.
Though brick-and-mortar casinos in the US, and in many other major gaming markets, experienced a rush of play after reopening and the pandemic quieting down, iGaming continued to flourish. Evolution’s revenue eclipsed the $1 billion mark in 2021 and soared to nearly $1.6 billion last year.
Evolution has various financial agreements in place with its customer-facing partners like DraftKings, BetMGM, and FanDuel. The firm says it receives varying commissions and/or fixed fees for operating live dealer table games on behalf of its partners and supplying the platforms with interactive slot titles.
Evolution has 10 studios in Europe, five in the US, and two in Canada. In its 2022 annual report, Evolution said it operated more than 1,300 live dealer tables from its remote studios.
Evolution was the subject of a mysterious claim filed in New Jersey in 2021 that alleged that the company allowed its products to be played in black markets, including in several countries that are currently subject to US sanctions.
An anonymous group filed the report with the New Jersey Division of Gaming Enforcement claiming Evolution’s products were accessed in such countries as Sudan. Ira, Syria, and Iraq. Evolution officials have denied the claim and said they only partner with iGaming operators that are licensed and regulated in their host jurisdictions.
New Jersey DGE officials confirmed receipt of the complaint but haven’t further revealed the merits of the accusations.