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Evolution AB was founded in 2006 by Jens von Bahr and Fredrik Österberg.
In 2013, Evolution launched its 100th live table at the Riga studios, becoming the largest single-site casino operation in Europe, and opened a studio in Spain. A studio in Malta opened in 2014.
Evolution was listed on Nasdaq First North Premier, Stockholm, on March 20, 2015, and subsequently opened a studio in Belgium.
In 2017, Evolution was listed on Nasdaq Nordic and later launched Dream Catcher. In the same year, Martin Carlesund was appointed as the CEO of the company, succeeding Jens von Bahr.
In 2018, Evolution acquired Ezugi and expanded with new facilities in Canada, Georgia, and New Jersey, U.S. It also signed agreements to provide Live Casino services to Unibet as well as Hard Rock Hotel and Casino Atlantic City.
In 2019, Evolution introduced Monopoly Live and Deal or No Deal. The same year, new games such as 2 Hand Casino Hold’em were launched.
In 2020, Evolution entered into an agreement with Intralot and acquired NetEnt, NetEnt Casino, and Red Tiger. Later, it launched Speed Blackjack and Crazy Time, and opened new studios in Pennsylvania, USA, and Lithuania. Additionally, it introduced an online live craps game in the same year.
In 2021, Evolution acquired Digiwheel and Big Time Gaming and later opened its third US studio in Michigan.
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In November 2021 a report was filed at the New Jersey Division of Gaming Enforcement (DGE) accusing Evolution of operating in jurisdictions either where online gambling was banned or in countries under international sanctions, including Iran, Syria and Sudan. Evolution denied the accusations and claimed that the report was manufactured by a rival. Senior Executives from Evolution testified before the DGE but no further action followed.
In 2022, Evolution launched XXXtreme Lightning Roulette, went live in West Virginia, and opened its fourth US studio in Connecticut. In the same year, the company acquired Nolimit City, introduced Monopoly Big Baller, and went live on the first day of Ontario's gaming market opening, along with launching its second New Jersey studio.
In 2023, Evolution introduced Funky Time, a 70s disco-themed live game show.
In 2024, Kenneth Dart, a billionaire based in Cayman Islands, acquired a 5 percent stake in Evolution AB.
In 2026, Evolution terminated its planned $85 million acquisition of Galaxy Gaming after a two-year pursuit.
In July 2026, Dart raised his stake in the company to 30.02%, which crossed the threshold that requires the launch of a mandatory takeover offer. The company has four weeks to launch a bid for the remaining shares or reduce its holdings below 30% per Swedish takeover rules.
From Wikipedia’s article on Evolution AB, shared under CC BY-SA 4.0.4