Evolution highlights strategic rationale to acquire leading producer and developer of online slot games Nolimit City for EUR 340 million.
The acquisition is in line with Evolution’s strategy, aiming at world’s top provider of online casino games. With the Nolimit City brand, Evolution extends its portfolio of world-leading slot brands that already includes NetEnt, Red Tiger and Big Time Gaming.
Nolimit City is an innovative, world-leading producer of online slots games that has created its own niche in the market through games with sometimes provocative themes and a humorous touch.
Evolution chairman, Jens von Bahr, commented: “With the addition of Nolimit City to the Evolution family we extend our portfolio of truly innovative and cutting edge games from the top brands and game makers in the industry. We have followed Jonas, Emil and their team for a few years and been impressed as they have established a completely new style of slot games. I am proud that yet another of the very best minds in our industry has chosen to join the Evolution network.”
Nolimit City co-founder, Jonas Tegman, commented: “I cannot think of a better match between two companies then between Nolimit City and Evolution, we are fully aligned in terms of people, product, technology and how to get the job done. The slot vertical is under massive change, and we can’t wait to take on the challenge of global expansion together with Evolution, helping out with navigating towards the best slot product offering in the market.”
Nolimit City revenue is expected to amount to EUR 30 million with an EBITDA of EUR 23 million for the calendar year 2022. The Transaction will contribute positively to 2022 EPS for the Evolution Group.
