May 18, 2026 | 4:55 am
Evolution has introduced a €2 billion share buyback programme as the gaming supplier moves forward with plans to adjust its capital structure and return value to shareholders.
The company announced the initiative on Tuesday following approval from shareholders at its annual general meeting held on 24 April. Evolution said the programme is intended to reduce share capital and strengthen shareholder value through large-scale repurchases.
At the same time, the company revealed it had secured a €300 million revolving credit facility to support liquidity during the repurchase process.
The latest financial move comes as Evolution continues shifting its business focus toward growth markets in North and Latin America while facing legal and regulatory matters in several jurisdictions.
Buyback Programme Could Continue Through 2027
Evolution’s board authorized the repurchase of shares worth up to €2 billion through Nasdaq Stockholm and other regulated markets.
An independent investment firm or credit institution selected by the company will oversee the transactions. According to Evolution, the external firm will independently determine the timing of purchases without direct involvement from the company.
The programme may remain active until the full amount has been used or until the board decides otherwise. Evolution noted that the process could involve multiple rounds of purchases extending as far as the company’s 2027 annual general meeting.
All repurchased shares will be acquired using cash payments and at prices aligned with prevailing market conditions.
Swedish regulations limit companies from holding more than 10% of issued shares as treasury stock at one time. Evolution currently has 199,226,613 outstanding shares and does not hold any treasury shares, allowing the company to repurchase up to 19,922,661 shares under existing rules.
The board also indicated it could call an extraordinary general meeting if repurchased holdings approach the 10% threshold. Such a meeting could allow the company to cancel acquired shares and potentially authorize additional repurchase activity under a renewed programme.
Evolution said the initiative is designed to “optimise the capital structure of the company by reducing the share capital, thereby creating added shareholder value”.
Americas Growth Shapes Evolution Strategy
The supplier has recently reassessed its operational priorities as revenue growth increasingly comes from markets outside Europe.
During its first-quarter earnings report, Evolution said North America and Latin America had become major drivers of expansion. The company also disclosed that 48% of its first-quarter revenue came from regulated markets.
The changing regional balance reflects broader developments within the online gaming industry, where suppliers continue focusing on regulated jurisdictions with expanding digital gambling markets.
Evolution did not announce any changes to its long-term commercial strategy alongside the buyback announcement, though the scale of the repurchase programme represents one of the company’s most significant capital management decisions in recent years.
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Legal and Regulatory Matters Continue
The company’s capital plans arrive while Evolution remains involved in ongoing legal disputes and regulatory investigations.
In New Jersey, Evolution continues to face legal proceedings connected to claims that its games were available through unauthorized operators in restricted markets. The company has repeatedly denied those allegations.
Earlier this year, Evolution attempted to expand its complaint in the case by adding Playtech to the lawsuit. Evolution alleges Playtech organized and financed a campaign intended to damage its reputation and interfere with its efforts to expand in the North American online gaming market.
According to the claims, Playtech hired Black Cube to investigate Evolution’s activities in unlicensed and prohibited markets. Playtech has maintained that the investigation was conducted lawfully.
The Superior Court of New Jersey has yet to decide whether Evolution’s amended complaint can proceed.
Separately, Evolution remains under investigation by the UK Gambling Commission regarding the appearance of its games on unlicensed gambling websites accessible in the UK market. The review has continued for multiple years and remains unresolved.
The company did not provide any additional updates on either matter in connection with the buyback announcement.
Source:
“The Board of Directors of Evolution AB (publ) has resolved on EUR 2 billion Share Buyback Program“, mb.cision.com, May 18, 2026.