![]() “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,” said Jens von Bahr, chairman of Evolution. Evolution said the transaction will contribute positively to the group’s earnings per share in 2022. The acquired business is expected to generate around €30m of revenue in the calendar year 2022 and EBITDA of around €23m, representing a strong EBITDA margin of 77%. The company has carved out a name for itself by developing explosive – but occasionally divisive – slot games, such as the communist Russia-themed Remember Gulag, which includes features such as Propaganda Bet and Oligarch Status. Nolimit City titles include games such as Mental, San Quentin and East Coast/West Coast. The brand is “a truly 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 said.Įvolution chairman Jens von Bahr: “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.” ![]() Completion of the deal is expected during Q3 2022, subject to regulatory approvals.Įvolution said acquisition of the Nolimit City brand is in line with its strategy to become the world’s number one provider of online casino games. ![]() The transaction will take place on a cash and debt free basis and will be financed from Evolution’s cash at hand. The purchase will see Evolution pay an upfront consideration of €200m for the business, with additional earn-outs worth up to €140m to be paid out over the next three years. Evolution has agreed to acquire slot studio Nolimit City in a deal worth up to €340m. ![]()
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