Latest News
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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ELA Games
ELA Games releases Spirit of Savanna slot with player-choice bonus
The new 5×3, 10-payline title features Hold and Win or Free Spins selection and three jackpot tiers.
ELA Games has released Spirit of Savanna, a new online slot that introduces a player-choice bonus mechanic alongside Hold and Win, Free Spins, and three jackpot tiers.
Spirit of Savanna runs on a 5×3 reel grid with 10 paylines and is rated volatility 4 out of 5, according to the supplier. RTP is listed across two ranges: 93.98-94.16% and 96.01-96.12%.
The main differentiator is how a Wild symbol contributes to a winning combination. Instead of triggering a fixed feature, the game prompts players to choose between seven Free Spins or a Hold and Win bonus.
Both bonus paths include a Repeat Win feature that carries the value of the triggering win into each spin of the bonus round. The Free Spins feature can also retrigger using the same Wild-combination logic. The game includes three jackpot tiers, with the Grand Jackpot available either by landing two Antelopes or by filling an entire row with coins during Hold and Win.
The post ELA Games releases Spirit of Savanna slot with player-choice bonus appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Games Global
Games Global launches Candy Combo 2 Power Combo with Slingshot Studios
Games Global has released Candy Combo 2 Power Combo
, developed with exclusive studio partner Slingshot Studios. The new slot follows the original Candy Combo Power Combo
and expands the title’s Link&Win
gameplay and Power Combo
mechanics.
The 5×3, 20-payline game is set in a pastel candy theme and uses five “candy jar” characters above the reels to collect matching symbols and trigger Link&Win
modifiers. The Power Combo
flow activates a Link&Win
bonus played on a 5×4 grid, where cash coins remain in place as new symbols land.
Returning mechanics include Connector symbols with multipliers of up to 10x for completed rows, Collector symbols that gather visible cash values, and Jackpot symbols that award fixed prizes when four matching symbols are collected.
New features include Adder, which adds values to all other landed symbols, and Extender, which unlocks a second independent reel set to extend the Link&Win
round. Games Global said up to five features can be active within a single Link&Win
round, culminating in Super Power Combo
, where all features are active at once. The game also includes Hot Mode
, which adds extra feature symbols to the reels, and Upsizer
, which offers an option to enhance the Link&Win
feature at a cost before the bonus begins.
Richard Vermaak, Creative Director at Slingshot Studios, said: “Candy Combo 2 Power Combo
builds on its predecessor – one of our most successful titles – by expanding how features interact within the Link&Win
format.
“The addition of new jars and the ability to combine multiple mechanics introduces more variation across each round, while staying true to the core gameplay players recognise.”
David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “Slingshot Studios has done a brilliantly at evolving a well-established concept by adding depth and flexibility to its feature set.
“The result is a bright, engaging title that enhances a proven mechanic while offering players more ways to experience its core gameplay.”
The post Games Global launches Candy Combo 2 Power Combo with Slingshot Studios appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Acquisitions/Merger
LCKY Group agrees to acquire Denmark iGaming operator RoyalCasino
LCKY Group has entered into an agreement to acquire RoyalCasino, an iGaming operator focused exclusively on Denmark. The companies said the transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.
LCKY Group said the deal will expand its footprint in Denmark and increase exposure to what it described as “sustainable revenue streams in a well-regulated and stable jurisdiction.” The company also said the acquisition supports its multi-brand strategy in the Danish market.
LCKY Group expects the transaction to be immediately accretive, estimating an 18–20% increase in group revenue and a 29–31% increase in EBITDA.
Richard Brown, CEO of LCKY Group, said: “This is a highly strategic and financially compelling acquisition for LCKY Group. RoyalCasino brings both strong market presence and high-quality earnings in Denmark, a market that aligns closely with our focus on regulated, sustainable growth. The transaction enhances our scale, strengthens our competitive position, and provides clear opportunities to drive synergies and long-term value creation. We look forward to working closely with the RoyalCasino team to realize these opportunities.”
Per Petersen, CEO of RoyalCasino, said: “RoyalCasino is one of the largest online casino operators in Denmark, a market known as both well-regulated and high-value. Our industry is characterised by high levels of innovation and competition, and here we see the combination of RoyalCasino’s local expertise and LCKY’s international scale and iGaming pedigree as an excellent recipe for shared success. We look forward to introducing LCKY to our Danish customer base.” Partis acted as financial advisors to RoyalCasino on the transaction.
The post LCKY Group agrees to acquire Denmark iGaming operator RoyalCasino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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