Igaming content and live games supplier Evolution Gaming has announced that it has purchased further floor space for its Riga (Latvia) offices.
The move was sanctioned by the Board of Directors with a view to accommodate Evolution’s growing operations. The additional floor space purchase will amount to a total of €12.4 million.
Evolution noted that it had been a tenant of the building since 2011, and curr and currently rents more than half of the total office space.
The need to further expand the studio floor over the coming years is being assessed as large to manage the high demand for the company’s product.
As the landlord has not been able to provide guarantees for further expansion, Evolution has conducted a review of different alternatives with the acquisition of the building considered to be the best option both strategically and financially.
Jens von Bahr, CEO of Evolution Gaming, said: “The acquisition provides clear strategic advantages, as we strengthen the control over our future and significantly easier will be able to expand the studio floor space to meet the big demand for more tables and dedicated environments. Compared to if we had continued as tenants, we also get a slight positive financial impact.”