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Leading online casino studio Evolution faces takeover bid
One of the biggest live dealer online casino developers in the world has a $14 billion offer to be taken over by billionaire investor Kenneth Dart.
Anyone who has played live dealer games at the best legal online casinos in the U.S. is likely familiar with games like Crazy Time, Lightning Blackjack and Monopoly Live. By default, they'll also know about Evolution, the producer of those titles. The gambling giant now faces a takeover bid for $13.8 billion from investor Kenneth Dart and his firm Candle Lake.
Billionaire investor behind offer to take over Evolution
According to reports, Candle Lake, Dart's investment firm, made a mandatory takeover offer for the Swedish gaming software provider Evolution, which develops many of the top live dealer online casino games for operators around the world.
The tab clocks in at around $13.8 billion and comes on the heels of Dart purchasing additional shares in Evolution to increase his stake to above 30%. In doing so, Dart became legally obligated to submit a takeover bid for the company and potentially take it private. That said, Dart has remained mum on his intentions, as have other shareholders.