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Evolution bought slot developer Nolimit City. The company wants to be a one-stop shop for online casino operators. Its RNG division has underperformed expectations so far. Noliimita's games with darker themes are their most popular. They focus on quality and innovation, rather than quantity of output. This is why they are unique in terms of production and imagery. It also explains why their content appeals to advanced slots players. Evolution acquired NetEnt in 2020. After that, it scrapped the existing games launch pipeline. There will be fewer new launches in the near term.
Evolution will buy Malta-based slot developer Nolimit City for up to €340m. The deal is conditional upon regulatory approval. Nlimi City's games include Mental, San Quentin and East Coast/West Coast. Evolution's shares were trading 2.67% lower at SEK905.60 per share in Stockholm earlier Wednesday. nolimsitcity expects to generate revenue €30m in 2022. It expects an EBITDA of €23m and expects the transaction to be completed in Q3 2022, when the company expects it to have a global presence.
Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games
Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games. Evolution's wholly owned subsidiary, Evolution Malta Holding Limited, will acquire the entire issued share capital of Noliaim City Holding Ltd for an upfront consideration of EUR 200 million. With earn-outs of up to EUR 140 million, the total consideration can amount to up of € 340 million payable in cash.
Evolution Malta Holding Limited will buy Nolimit City for $211 million. The deal is conditional upon regulatory approval. Noliimid City is a producer and developer of online slot games. Its games include "Mental", "San Quentin" and "East Coast/West Coast". Evolution Malta is the owner of NetEnt, Red Tiger and Big Time Gaming. It is expanding its portfolio of slot brands. Jens von Bahr, Chairman of Evolution, is proud to have Noliaimind City joining the Evolution network. Jonas Tegman, Co-founder of Nolaimnd City, believes the company is well-aligned with the slot industry.
Evolution AB's wholly owned subsidiary, Evolution Malta Holding Limited, has entered into an agreement to acquire the entire issued share capital of Nolimit City Holding Ltd for an upfront consideration of €200 million. With earn-outs of up to €140 million, the total consideration can amount to up to €340 million payable in cash. Noliaim is a world-leading producer of online slots games. Its games include Mental, San Quentin and East Coast/West Coast. The acquisition is in line with Evolution's strategy of being the world's number one provider of gambling content.
Nolimit City has released a new online slot game called Folsom Prison. The game features a unique art style and showcases the dangerous atmosphere of the prison world.
Nolimit City's games will be available to customers of numerous gambling sites.
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Nolimit City has expanded its presence in the Nordic and Scandinavian states. Now it wants to expand its business in Romania. It has partnered with one of Europe's fastest growing GameTech companies, Kaizen Gaming, and has been licensed by the Romanian National Gambling Office.
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Nolimit City Limited has launched a new video slot machine called San Quentin xWays. It was developed by the same team behind the Punk Rocker game released in February.
This week's games round-up from Gaming Intelligence features new titles from the likes of Playtech, Pragmatic Play, Inspired Entertainment, iSoftBet, GAMING1, Blueprint Gaming, Playson, Gamomat, Nolimit City, Real Dealer Studios, Quik Gaming and Play'n GO.