Evolution walks away from $85 million Galaxy Gaming deal

Live-casino technology supplier Evolution terminated its planned $85 million acquisition of Galaxy Gaming in July 2026, walking away from a deal that had originally been announced back in 2024 and was expected to close by mid-2025. Evolution agreed to pay Galaxy Gaming a termination fee of just over $5 million as part of ending the agreement.

Neither company detailed the exact reasons behind the collapsed deal publicly, though extended delays of this kind in the gambling sector often stem from regulatory approval taking longer than expected across the multiple US state gaming commissions that would have needed to sign off on the acquisition. Galaxy Gaming supplies proprietary table games and technology to casinos, a niche but steady corner of the gambling supply chain that had drawn Evolution’s interest as it looked to broaden its footprint beyond live-dealer streaming into a wider range of casino products.