Evolution, Galaxy Gaming Extend Merger Agreement

Evolution and Galaxy Gaming have agreed to extend the timeline for their pending acquisition, reaffirming their intention to move the transaction forward while remaining aligned with ongoing regulatory review processes. The two companies confirmed that the Merger Agreement’s “outside date” has been moved to July 17, 2026, a change that allows additional time to secure all required approvals as progress continues toward completion.

The announcement builds on the previously established Agreement and Plan of Merger between Galaxy Gaming, Inc., Evolution Malta Holding Limited, and Galaga Merger Sub, Inc. Under that agreement, Galaga Merger Sub will merge into Galaxy, resulting in Galaxy becoming a wholly owned subsidiary of Evolution. The extension does not alter the structure of the planned merger but offers a more flexible deadline as regulators finalize their evaluations.

According to the joint update, the companies anticipate that remaining regulatory approvals will be received during the first quarter of 2026. Mississippi’s approval, granted in November 2025, marked a key step forward, and both organizations will continue coordinating with authorities to satisfy the Gaming Approval Closing Condition before the new July 17, 2026 deadline.

Leadership from both sides emphasized the importance of respecting the timing of the regulatory process while maintaining confidence in the transaction’s progress. Evolution CEO Martin Carlesund stated:
“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.”

He also highlighted the planned operating approach following completion:
“Following close, we look forward to supporting Galaxy Gaming’s operation as an independent business unit within Evolution, preserving its unique culture while leveraging our global reach and resources to accelerate growth.”

Galaxy Gaming CEO Matt Reback echoed the positive outlook, noting the benefits the merger is expected to unlock once approvals are finalized. Reback stated:
“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.”

He further added:

“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.”

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Once all required gaming approvals have been received, the Gaming Approval Closing Condition will be considered fulfilled. The companies noted that, subject to the satisfaction or waiver of remaining conditions, closing is expected to occur shortly after this requirement is met. Both Evolution and Galaxy reiterated that they anticipate completing the merger promptly after regulatory authorization is granted.

The extension ensures that both entities have sufficient time to complete all outstanding regulatory steps, maintaining momentum toward the planned integration while preserving the full structure of the agreement.

Source:

Evolution and Galaxy Gaming Extend Merger Agreement as Acquisition Progresses; Remaining Regulatory Approvals Are Anticipated in Q1 2026, mb.cision.com, November 25, 2025