Evolution Gaming has finally completed its acquisition of slot developer Nolimit City, in a deal worth up to €340 million.
Evolution first announced in June that it had reached an agreement to purchase Nolimit for an initial amount of €200 million, with the remaining €140 million dependent on future performance in 2023, 2024 and 2025.
All of the regulatory approvals that the transaction was conditional upon have already been received, and so Evolution has finalized the transaction and officially acquired Nolimit City.
Nolimit City is an innovative, world-leading producer of online slots that has built its own niche in the market through games with at times having provocative themes and a witty touch. The games of Nolimit City truly stand out and offer players a unique and graphically rich gaming experience. Nolimit City titles include award-winning games such as Mental, Book of Shadows, Deadwood, San Quentin xWays and Tombstone RIP.
Nolimit City revenue is expected to amount to €30 million, with an EBITDA of €23 million for the calendar year 2022.
The transaction will contribute positively to 2022 EPS for the Evolution Group.
This acquisition is in line with Evolution's strategy of being the number one provider of online casino games in the world, supplying customers with the best gaming content. With the Nolimit City brand, Evolution further expands its portfolio of world leading slot brands that already includes Big Time Gaming, Red Tiger and NetEnt.
About Evolution Gaming
Evolution AB develops, produces, markets and licenses fully-integrated B2B Online Casino solutions to gaming operators. Founded in 2006, Evolution Gaming has developed into a leading B2B provider with 600+ operators among its customers, including 888casino, Betsson, Entain (partycasino), Mr Green and LeoVegas. The group currently employs 13,000+ people in studios across Europe and in North America. The parent company is based in Sweden and listed on Nasdaq Stockholm with the ticker EVO.
Evolution Gaming is licensed and regulated by the Malta Gaming Authority under license MGA/B2B/187/2010. Evolution is also licensed and regulated in many other jurisdictions such as the United Kingdom, Belgium, Canada, Romania, South Africa, and others.
Source: https://lcb.org/news/evolution-finalizes-transaction-and-acquisition-of-nolimit-city
