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Evolution has entered into an agreement to acquire Nolimit City
Evolution AB (publ)’s wholly owned subsidiary, Evolution Malta Holding Limited, (“Evolution”) has entered into an agreement to acquire the entire issued share capital of Nolimit City Holding Ltd (“Nolimit City”) for an upfront consideration of EUR 200 million (the “Transaction”). With earn-outs of up to EUR 140 million the total consideration can amount to up to EUR 340 million, payable in cash.
Transaction highlights and strategic rationale
Nolimit City 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. Nolimit City games stand out and offer players a unique, graphically rich playing experience. Nolimit City titles include award-winning games such as 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 online casino games, supplying its customers with the best gaming content. With the Nolimit City brand, Evolution extends its portfolio of world leading slot brands that already includes NetEnt, Red Tiger and Big Time Gaming.
“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.” – Jens von Bahr, chairman, Evolution
“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.” – Jonas Tegman, Co-Founder, Nolimit City
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.
Consideration and financing
The total up-front consideration payable by Evolution in the Transaction is EUR 200 million on a cash and debt free basis. The consideration is financed from cash at hand. In addition, Evolution may pay earn-out payments in cash, based on Nolimit City’s EBITDA for the years 2022, 2023 and 2024, respectively. The earn-out payments will amount to a maximum of EUR 140 million, and become payable in 2023, 2024 and 2025, respectively.
Conditions and time plan for the acquisition
Completion of the Transaction is conditional upon receipt of regulatory approvals and is expected during Q3 2022.
Advisors
Evolution has engaged Gernandt & Danielsson, Wiggin, Deloitte and EY in connection with the Transaction. Nolimit City has engaged Advokatfirman Delphi as legal advisor in connection with the Transaction.
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Evoplay
Evoplay expands into Peru through new partnership with LaFija.com
Evoplay, the award-winning game development studio, has strengthened its presence in Peru by partnering with leading regional operator LaFija.com, marking another step in the company’s ongoing expansion across regulated Latin American markets.
The collaboration introduces Evoplay’s portfolio to LaFija’s Peruvian customer base, bringing popular and high-performing titles such as Cat’s Blessing, Penalty Shoot-Out: Street, and Hot Volcano to local players.
LaFija.com, operated by Virtual Padlocks, is a popular casino brand focused on delivering localised, high-quality content across Latin America.
Evoplay continues to build momentum across the region through strategic partnerships with leading brands, and the launch with LaFija.com further reinforces its commitment in ensuring its content aligns with LatAm preferences and regulatory standards.
Alex Malchenko, Head of Sales at Evoplay, said: “Peru is a key market for us. Partnering with LaFija.com allows us to bring our portfolio of popular, performance-led titles to a new audience, strengthening our presence in the region and supporting our ambition to deliver market-aligned content across LatAm.
“Our goal is to continue to provide operators with experiences that engage players while building upon our own long-term growth.”
Debora Camacho Alvarez, Head of Marketing at Virtual Padlocks, added: “We are pleased to collaborate with Evoplay and bring their visual and engaging content to players via the LaFija.com brand in Peru.
“Their innovative titles complement the platform perfectly, enhancing the experience LaFija.com offers while supporting its drive for localised, high-quality gaming.”
The post Evoplay expands into Peru through new partnership with LaFija.com appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Media Troopers Extends World Cup Operations to Include LatAm
With soccer engagement expected to surge across the United States, Canada, and Mexico ahead of the World Cup from July 11 to July 19, Media Troopers is accelerating its investment in the Latin American market to capitalize on growing demand around the global event.
Already well established in the US and Canada, the company is now expanding its regional presence by developing new soccer-focused marketing channels, strengthening its network of publishers and affiliates, and enhancing its proprietary marketing platform, Media Cruiser, with localized capabilities designed to support campaigns across key Latin American markets.
As part of these upgrades, Media Troopers has introduced advanced geo-targeting tools, Spanish and Portuguese localization, and deeper integration with regional traffic sources to help operators run more precise, market-specific campaigns.
Through the onboarding of sports media outlets and affiliates focused on soccer content, operators will also be able to connect with audiences in major markets including Brazil, Mexico, Colombia, Argentina, and Chile.
Shmulik Segal, CEO of Media Troopers, said:
“Soccer dominates the sports landscape across Latin America, and the World Cup presents a major opportunity for operators to engage fans through localized and data-driven marketing.
By expanding our regional publisher network and enhancing the capabilities of our Media Cruiser platform, we’re enabling our partners to launch more targeted campaigns and reach audiences across LATAM at scale.”
The post Media Troopers Extends World Cup Operations to Include LatAm appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Cod of Thunder Dream Drop
Prime Casino Rolls Out Exclusive Slot Developed by Relax Gaming
Prime Casino has exclusively introduced Cod of Thunder Dream Drop, the newest jackpot-driven slot from top provider Relax Gaming.
The Viking fishing experience is now accessible to Prime Casino players who can anticipate the Dream Drop Jackpot, Relax Gaming’s five-level progressive prize system that may activate randomly during play.
In Cod of Thunder Dream Drop, players use their nets on the reels to catch valuable fish symbols that hold immediate cash rewards, while unique features like the Full Net collect mechanic accumulate all visible fish values into one win. When paired with cascading reels and an increasing multiplier ladder, every spin can quickly lead to substantial rewards.
The slot showcases a 5×4 reel configuration with 1,024 winning combinations, along with various captivating features such as tumbling wins, multiplier advancement, and Free Spins.
Prime Casino, a division of Kinetic Digital, features more than 6,000 slot games, and this new addition enhances its current selection of well-known Relax Gaming slots like Money Train 4, Temple Tumble Megaways, and Dork Unit.
Kinetic Digital Head of Brand Marketing Dom Aldworth said: “We’re delighted to bring Cod of Thunder Dream Drop to Prime Casino as an exclusive launch. Relax Gaming has created a brilliant slot that blends an engaging theme with the excitement of the Dream Drop jackpot network and we’re confident our players will love the mix of features, big-win potential and immersive gameplay it delivers.”
The post Prime Casino Rolls Out Exclusive Slot Developed by Relax Gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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