Evolution Gaming Group Shares Jump on $2.3 Billion Buyback News

Dow Jones05-19

By Joe Stonor

Shares in Evolution Gaming Group jumped to a seven-month high after the Swedish online casino developer announced a share buyback program worth up to 2 billion euros ($2.33 billion).

Evolution shares rose 7.6% to 714 Swedish kronor in European afternoon trade, reaching the stock's highest level since October 2025.

The value of the buyback program--which is set to be completed over the next year--equates to over 16% of the Swedish group's current market value.

The buyback should be a tailwind to the company's stock, Jefferies analysts wrote in a note to clients.

As a result of the program, the group said it opened a revolving credit facility worth 300 million euros in order to "maintain financial flexibility." The facility was agreed with investment banks J.P. Morgan and Citibank.

The Stockholm-based group said it still aims to have more cash than debt on its balance sheet, a position it said it would achieve "over time."

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

May 19, 2026 10:23 ET (14:23 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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