Evolution Terminates Merger Agreement with Galaxy Gaming

Evolution Malta Holding Limited has terminated its merger agreement with Galaxy Gaming, Inc., originally dated July 18, 2024. As a result, Evolution is obligated to pay Galaxy Gaming a termination fee of $5,234,678 within two business days.

What Happened

Evolution Malta Holding Limited, a company registered in Malta and a subsidiary of Evolution, notified Galaxy Gaming, Inc. that it was terminating the Agreement and Plan of Merger. This agreement was originally established on July 18, 2024, between Galaxy, Evolution, and Galaga Merger Sub, Inc., a wholly owned subsidiary of Evolution, according to The Manila Times.

Per the terms of the Merger Agreement, Evolution is required to remit a termination fee of $5,234,678 to Galaxy Gaming. This payment is due within two business days following the date of the Merger Agreement’s termination, as stated by The Manila Times.

Key Details

• Evolution Malta Holding Limited, a registered entity in Malta, initiated the termination of the merger agreement with Galaxy Gaming, Inc., according to The Manila Times.
• The original Agreement and Plan of Merger was dated July 18, 2024, involving Galaxy, Evolution, and Evolution’s subsidiary, Galaga Merger Sub, Inc., as reported by The Manila Times.
• Evolution is mandated to pay Galaxy Gaming a termination fee of $5,234,678 within two business days of the termination, according to The Manila Times.
• Matt Reback, President and CEO of Galaxy Gaming, reportedly expressed disappointment in the outcome but reaffirmed commitment to independent growth and continuing the long-standing relationship with Evolution.
• Galaxy Gaming is headquartered in Las Vegas, Nevada, and operates as an independent developer and distributor of casino table games and technology, according to The Manila Times.
• Galaxy Gaming Digital acts as a licensor of proprietary table games for the online gaming industry and holds 131 licenses globally, including in 28 U.S. states, according to The Manila Times.

Why It Matters

The termination of this merger agreement between Evolution and Galaxy Gaming signifies a significant shift for both entities in the regulated markets sector. For Galaxy Gaming, the immediate financial implication is the receipt of the termination fee, which, according to The Manila Times, stands at $5,234,678. The company’s President and CEO, Matt Reback, reportedly emphasized a continued focus on independent growth and leveraging its existing market position as a developer and distributor of casino table games and technology.

This event may prompt a reassessment of strategic directions for both Evolution, which was poised to acquire Galaxy Gaming, and for Galaxy Gaming as it proceeds with its independent operational trajectory. Galaxy Gaming’s established global licensing presence, including in 28 U.S. states, and its role as a leading licensor of proprietary table games to the online gaming industry, as reported by The Manila Times, highlight its existing market footprint independent of the proposed merger.

What’s Next

Evolution is required to pay the $5,234,678 termination fee to Galaxy Gaming within two business days of the termination date, as reported by The Manila Times. Galaxy Gaming has indicated its commitment to advancing its games and technologies and continuing its long-standing relationship with Evolution, according to its President and CEO, Matt Reback, as quoted in The Manila Times.

Originally reported by The Manila Times·Published 21 Jul 2026, 20:41