Evolution AB today announced that it has given notice of termination of the merger agreement between Evolution Malta Holding Limited, Galaxy Gaming, Inc. and Galaga Merger Sub, Inc.
The decision marks a formal end to the planned merger process that had previously been extended as the companies worked toward final regulatory approvals.
Under the terms of the merger agreement, Evolution is required to pay Galaxy Gaming a termination fee of USD 5,234,678, which Evolution said it intends to pay in accordance with the agreement.
Evolution said it expects to continue working with Galaxy Gaming within the framework of the companies’ existing strong commercial relationship. The companies have maintained a licensing relationship in recent years, including extensions announced in 2023, which provided broader context for their collaboration beyond the proposed transaction.
The merger process had previously been extended to July 17, 2026, while the parties awaited remaining regulatory approvals. Earlier updates indicated that approval from Mississippi regulators had already been secured and that the remaining approvals were expected in the first quarter of 2026.
