Galaxy Gaming Stockholders Approve Acquisition by Evolution

by · The Cerbat Gem

On November 12, 2024, Galaxy Gaming, Inc. held a virtual special meeting of its stockholders to vote on proposals related to its acquisition by Evolution Malta Holding Limited. As outlined in the definitive proxy statement, stockholders voted on various proposals, including the Merger Proposal, Merger Compensation Proposal, and Adjournment Proposal.

The Merger Proposal, aimed at adopting the Agreement and Plan of Merger between Evolution, Galaga Merger Sub, Inc., and Galaxy, was approved by the requisite vote of Galaxy’s stockholders. Similarly, the Merger Compensation Proposal, involving compensation for Galaxy’s executive officers tied to the merger, also received approval from stockholders.

Regarding the Adjournment Proposal, the approval for adjourning the meeting was not required as there was a sufficient quorum present to approve the Merger Proposal at the designated time.

While the stockholders have consented to the proposed Merger, the finalization of the transaction remains subject to meeting certain closing conditions, including obtaining gaming and regulatory approvals related to the merger. The completion of the merger is expected to occur in mid-2025.

Galaxy Gaming issued a press release on November 12, 2024, announcing the voting results of the Special Meeting. The details of the voting results and stockholder approvals were elaborated upon in the press release.

Following the merger, Galaxy Gaming will transition into a privately held company, with its shares no longer being publicly traded. The company’s common stock will no longer be listed on any public market post-merger.

Galaxy Gaming, headquartered in Las Vegas, Nevada, is a prominent developer and distributor of casino table games and technology solutions. The acquisition by Evolution is seen as a strategic move that will position the company within a broader gaming market.

Evolution AB (publ), the parent company to Evolution Malta Holding Limited, is a renowned provider of B2B Live Casino solutions to gaming operators globally. With a strong presence in the gaming industry through its innovative offerings, the merger is expected to bring synergies and opportunities for growth.

As with any forward-looking acquisitions, the outcome of the merger will depend on the fulfillment of closing conditions and regulatory approvals. Interested parties are advised to refer to the respective filings with the Securities and Exchange Commission for detailed information on the merger and associated risks.

Contact:
Media: Phylicia Middleton (702) 938-1753
Investors: Steve Kopjo (702) 727-8886

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Galaxy Gaming’s 8K filing here.

About Galaxy Gaming

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Galaxy Gaming, Inc, a gaming company, designs, develops, acquires, assembles, markets, and licenses proprietary casino table games and associated technology, platforms, and systems for the casino gaming industry. The company's proprietary table games comprise side bets, which are proprietary features and wagering options added to public domain games, such as baccarat, pai gow poker, craps, and blackjack table games under the Lucky Ladies, 21+3, Bonus Craps, and EZ Baccarat titles; and premium games, which are stand-alone games with their own set of rules and strategies under the Heads Up Hold 'em, High Card Flush, Cajun Stud, and Three Card Poker names.

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