Galaxy Gaming and Evolution extend merger agreement

(PRESS RELEASE) -- As previously announced, Galaxy Gaming, Inc., the world’s leading independent developer and distributor of casino table games and technology, Evolution Malta Holding Limited, a company registered in Malta, and Galaga Merger Sub, Inc., a Nevada corporation and a wholly owned subsidiary of Evolution, entered into an Agreement and Plan of Merger, pursuant to which Merger Sub will be merged with and into Galaxy, with Galaxy surviving as a wholly owned subsidiary of Evolution.

Evolution and Galaxy Gaming announced that they have mutually agreed to extend the Merger Agreement “outside date” through 17 July 2026, reaffirming their mutual commitment to completing the transaction and advancing their shared vision for innovation in the gaming industry.

As part of the regulatory approval process, the companies anticipate that the proposed acquisition will be approved by relevant regulatory authorities during the first quarter of 2026. With Mississippi approval secured in November 2025, both companies will continue to work closely with regulators to satisfy the remaining Gaming Approval Closing Condition by 17 July 2026.

"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."

"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." – Martin Carlesund, CEO Evolution AB (publ)

Matt Reback, CEO of Galaxy Gaming, added: "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."

Upon receipt of all required gaming approvals, the Merger Agreement’s Gaming Approval Closing Condition will be met. Subject to the satisfaction or waiver of all other conditions, the Merger is expected to close shortly following fulfillment of the Gaming Approval Closing Condition. Both companies anticipate closing promptly following regulatory approvals.