Who Owns Evolution Gaming Group AB Company?

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Who Really Owns Evolution Gaming Group AB?

Ever wondered who pulls the strings at a leading live casino provider like Evolution Gaming Group AB? Understanding the ownership structure of a company is crucial for investors and strategists alike. From its humble beginnings to its current status as a global leader, the journey of Evolution Gaming is a fascinating case study in corporate evolution.

Evolution Gaming, a prominent gaming company, began its journey in Sweden in 2006, quickly becoming a major player in the online casino solutions market. Its IPO in 2015 marked a significant shift, transforming its ownership landscape. This exploration will unravel the Evolution Gaming Group AB SWOT Analysis, delving into the founders, shareholders, and key stakeholders influencing its strategic direction and financial performance. Understanding the ownership of Evolution Gaming is key to grasping its future.

The story of Evolution Gaming Group AB, a leading live casino provider, began in 2006. The company was founded by Jens von Bahr and Fredrik Österberg, along with Richard Hadida. Their primary goal was to bring the immersive experience of a real casino to the online world, with 'AS REAL AS IT GETS' as their core promise.

While the initial equity distribution among the founders isn't fully detailed in public records, it's clear that they held significant early ownership stakes. This early ownership was crucial in shaping the company's strategic direction and its focus on live casino innovation. This innovation would eventually lead to significant growth and market leadership.

As of December 31, 2015, before the company's broader public ownership, Richard Livingstone was the largest shareholder, holding 16.5% of the capital and votes. Fredrik Österberg, through FROS Ventures AB, held 10.1% of the capital and votes. Jens von Bahr, another co-founder, also maintained a significant share in the company during its early years.

Key Early Ownership Details

The founders' early involvement and substantial holdings played a critical role in shaping the company's focus on real-time streamed live casino solutions. This strategic direction set the stage for the company's expansion and success in the European market and beyond. The commitment to innovation, as highlighted in the Growth Strategy of Evolution Gaming Group AB, was evident from the start.

• The founders, Jens von Bahr, Fredrik Österberg, and Richard Hadida, established Evolution AB in 2006.
• Richard Livingstone was the largest shareholder as of December 31, 2015, with 16.5% of capital and votes.
• Fredrik Österberg, through FROS Ventures AB, held 10.1% of the capital and votes as of December 31, 2015.
• The early focus was on live casino innovation, crucial for future growth.

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The listing of Evolution Gaming Group AB on Nasdaq First North Premier, Stockholm, on March 20, 2015, marked a pivotal moment in its ownership journey. This initial public offering (IPO) opened the door to wider public ownership, bringing institutional investors into the fold. As of December 31, 2024, the company had a total of 211,833,204 shares, each with a nominal value of EUR 0.003, all carrying equal voting rights. By the end of 2024, the shareholder base had grown to 91,730.

This transition to public ownership has been instrumental in shaping Evolution Gaming's growth trajectory. The influx of capital facilitated strategic moves, including acquisitions and expansions, which have fortified its position in the market. The company's financial performance reflects this success. For the full year 2024, Evolution reported a net revenue of €2.06 billion, a 14.7% increase, and a profit of €1.24 billion, a 16.2% year-on-year increase.

As of April 30, 2025, the ownership structure of Evolution Gaming Group AB includes a mix of institutional investors, mutual funds, and individual shareholders. The top 10 largest shareholders collectively held 50.67% of the capital and votes. Kenneth Dart, through Candle Lake Ltd/Spring Mountain Ltd, is the largest shareholder with 16.55% of the shares. Österbahr Ventures AB, jointly owned by co-founders Jens von Bahr and Fredrik Österberg, holds 10.57%. Capital Group holds 9.54%. Institutional investors collectively own approximately 36% of the company as of May 21, 2025, while the general public holds about 34%. For more details on how the company generates revenue, see Revenue Streams & Business Model of Evolution Gaming Group AB.

Key Takeaways on Evolution Gaming Ownership

Evolution Gaming's ownership structure is a blend of institutional and individual investors, with significant holdings by key shareholders.

• The IPO in 2015 was a major turning point, opening the door to public investment.
• Kenneth Dart is the largest shareholder.
• Institutional investors collectively hold a significant portion of the company.
• The company's financial performance reflects its strong market position.

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The current Board of Directors of Evolution Gaming Group AB (Evolution AB) includes a blend of individuals, such as founders, representatives from major shareholders, and independent members. At the Annual General Meeting on May 9, 2025, Jens von Bahr, a co-founder, was re-elected as the Chairman of the Board. Other board members re-elected were Joel Citron, Mimi Drake, Ian Livingstone, Sandra Urie, and Fredrik Österberg, also a co-founder. Jens von Bahr and Fredrik Österberg, through Österbahr Ventures AB, are considered non-independent due to their roles as co-founders and significant shareholders. Joel Citron and Ian Livingstone are independent concerning the company, its management, and major shareholders.

The composition of the board reflects a balance between continuity and fresh perspectives, ensuring that the company benefits from both the deep understanding of its founders and the independent oversight necessary for robust corporate governance. This structure is designed to support strategic decision-making and maintain alignment with shareholder interests. The Marketing Strategy of Evolution Gaming Group AB is a crucial aspect of the company's operations.

The voting structure at Evolution AB is based on a one-share-one-vote principle. This means all shares have equal voting rights, and there are no special arrangements that would give specific individuals or entities outsized control. The Annual General Meeting serves as the primary decision-making body where shareholders exercise their influence. The company's corporate governance model emphasizes compliance with all applicable statutes and regulations, with the Board of Directors reviewing internal processes and the regulatory framework through its Compliance Committee. There have been no significant proxy battles or activist investor campaigns that have impacted decision-making recently.

Key Governance Points for Evolution Gaming

Evolution Gaming's governance structure ensures fairness and transparency.

• One-share-one-vote principle.
• Annual General Meeting as the primary decision-making body.
• Compliance Committee overseeing regulatory matters.
• Board composed of founders, representatives, and independent members.

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Over the past few years, Evolution AB has been actively returning value to its shareholders. In July 2024, a share repurchase program of €400 million was initiated and completed by October 2024. Following this, a new share repurchase program of up to €500 million was announced on February 10, 2025, with €346 million remaining for repurchases as of May 14, 2025, until the 2026 Annual General Meeting. Between February 11 and March 24, 2025, the company acquired 2,100,081 of its own shares under this program. These actions indicate a commitment to reducing capital and enhancing shareholder value for Evolution Gaming Group AB.

In the realm of mergers and acquisitions, Evolution Gaming has expanded its portfolio. Early in 2024, Livespins was acquired, and in July 2024, the acquisition of Galaxy Gaming was announced. Furthermore, there have been leadership transitions, including the departure of CFO Jacob Kaplan, who was replaced by Joakim Andersson on February 18, 2025. These developments reflect the dynamic nature of Evolution Gaming's strategic initiatives within the gaming industry.

The ownership structure of Evolution Gaming Group AB is also evolving. Institutional investors hold a significant 36% stake, influencing the company's share price. The general public holds approximately 34% as of May 2025. The company's focus remains on growth in regulated markets and product innovation. For a deeper understanding of the competitive environment, you can explore the Competitors Landscape of Evolution Gaming Group AB.

Share Buybacks

The company is actively repurchasing its shares, reflecting a strategy to return capital to shareholders and potentially increase the stock's value. The new share repurchase program is up to €500 million.

Institutional Investors

Institutional investors hold a considerable percentage of the company's shares. This indicates confidence from significant financial entities and can stabilize the stock.

M&A Activity

Evolution Gaming has been involved in acquisitions, expanding its market presence and product offerings. Recent acquisitions include Livespins and Galaxy Gaming.

Leadership Changes

There have been changes in the leadership team, including a new CFO. These changes can signal strategic shifts or adaptations within the company.

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