Evolution launches EUR 2 billion buyback and secures new credit line

Evolution Gaming Group AB ( (SE:EVO) ) has issued an update.

Evolution Gaming Group AB, a leading Sweden-based B2B supplier of online casino solutions to gaming operators, develops, produces and licenses fully integrated live and digital casino platforms for a global customer base. The company operates large studio networks across multiple continents and is regulated in several key jurisdictions, supporting its position as a major infrastructure provider to the online gambling industry.

Evolution’s board has approved a EUR 2 billion share buyback programme, aiming to optimise the company’s capital structure by reducing share capital and enhancing shareholder value. The buybacks, to be executed on regulated markets under EU safe-harbour rules and capped at 10 percent of outstanding shares at any time, may be complemented by share cancellations and a follow-on programme, while a new EUR 300 million revolving credit facility from J.P. Morgan SE and Citibank Europe provides additional financial flexibility as Evolution undertakes this sizeable capital return.

The most recent analyst rating on (SE:EVO) stock is a Hold with a SEK660.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

More about Evolution Gaming Group AB

Evolution Gaming Group AB is a Sweden-based developer, producer and licensor of fully integrated B2B online casino solutions for gaming operators worldwide. Since its founding in 2006, it has grown into a leading provider serving 870 operators, with around 22,900 employees in studios across Europe, Asia, North America and South America, and its shares are listed on Nasdaq Stockholm under the ticker EVO.

Average Trading Volume: 602,724

Technical Sentiment Signal: Sell

Current Market Cap: SEK129.5B

For an in-depth examination of EVO stock, go to TipRanks’ Overview page.