Candle Lake Limited has acquired 2,050,000 shares in Evolution AB, pushing its total holding to 59,798,619 shares. This represents approximately 30.02% of the total shares and votes in the Swedish gaming technology company. The acquisition triggers a mandatory offer obligation under Swedish law. Candle Lake must now launch a takeover offer for the remaining shares in Evolution within four weeks, or reduce its shareholding to below 30% of voting rights. Evolution's shares are listed on Nasdaq Stockholm's Large Cap segment. Candle Lake Limited is directly owned and controlled by Kenneth Dart. Roschier Advokatbyrå AB is serving as legal advisor to Candle Lake on the transaction.

Evolution Gaming Group is acquiring Dutch technology firm Arcadia Gaming Solutions for an initial payment of €2.5 million, with the deal expected to close by the end of 2024. Additional earn-outs will be awarded in 2027 based on Arcadia's performance. Founded in 2019, Arcadia specialises in transforming traditional arcade games into online casino experiences. Its flagship product, Fortune Pusher, enables players to interact with physical arcade machines via mobile and desktop platforms using advanced video-streaming technology. The acquisition aligns with Evolution's broader expansion strategy. In 2023, the company reported revenues of €1.80 billion, with live casino games contributing 84.7% of total income. Evolution is also pursuing other acquisitions, including Galaxy Gaming for $85 million, set to close in 2025.