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Evolution AB has approved a €2 billion share buyback programme after receiving shareholder backing at its Annual General Meeting on April 24.
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Evolution said the buyback aims to improve its capital structure by reducing share capital and creating added shareholder value. The board has authorised purchases on Nasdaq Stockholm or other regulated markets.
An independent investment firm or credit institution will handle the repurchases and decide timing without direct company control. The programme can continue until the full €2 billion limit is used, until further notice, or potentially until the 2027 Annual General Meeting.
Swedish rules limit Evolution to holding 10% of issued shares. With 199,226,613 shares outstanding and no treasury shares currently held, the supplier can buy back up to 19,922,661 shares before reaching that cap.
The board may call an extraordinary general meeting if holdings approach the limit. That would allow shareholders to cancel repurchased shares and clear space for further buybacks under the same broad plan.
The capital return follows a period in which Evolution has leaned more on growth outside Europe. In Q1, North America and Latin America drove much of the improvement, while regulated markets accounted for 48% of revenue.
At the same time, legal and regulatory issues remain active. Evolution is involved in New Jersey litigation tied to claims that its games appeared through unauthorised operators in restricted markets. The company has denied those claims and has sought to add Playtech to a related defamation case, alleging a false and commercially motivated campaign involving Black Cube.
The Superior Court of New Jersey will decide whether the amended complaint can continue. Separately, the UK Gambling Commission is still reviewing links between Evolution games and unlicensed sites in the UK market.
Evolution also arranged a €300 million senior unsecured revolving credit facility with JP Morgan SE and Citibank Europe plc. The facility runs for three years, with two optional one-year extensions, and gives the company standby liquidity during the buyback period.