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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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Dmitry Starostenkov
EvenBet Gaming Launches its Turnkey Casino Platform and Game Aggregator
EvenBet Gaming, a global card games and poker software provider, has expanded its product portfolio with the launch of its Turnkey Casino Platform and Game Aggregator, marking its formal expansion into the casino vertical.
With more than 20 years of experience in the poker industry, the move marks the next phase of growth for the company, bringing together its proven poker software and advanced casino solutions into a single framework.
At the core of this expansion is the Turnkey Casino Platform, designed to minimise launch friction and provide a structured and accessible entry into the market, supported by scalable infrastructure to facilitate long-term growth.
The ecosystem combines a ready-to-launch casino platform with EvenBet’s Game Aggregator, comprising over 15,000 titles from more than 230 providers. It also includes an advanced promotional and bonus toolkit, payment infrastructure, KYC tools, an internal revshare affiliate module and external CPA service integrations, enabling operators to launch and scale efficiently without needing extensive technical resources.
EvenBet’s strategy is designed to support a seamless product journey, accommodating both new market entrants seeking an efficient launch and established operators looking to expand their portfolio. Underpinned by a single player account and shared balance, the platform is built to drive cross-vertical engagement, enabling a natural transition between casino and poker.
Supporting this approach is its suite of purpose-built hybrid games tailored to casino players. One Click Poker removes the traditional poker lobby, eliminating a common barrier to entry, while Spins Poker blends player-versus-player gameplay with fast-paced, slot-style mechanics.
Additional casino side games and rewards within the poker lobby play a vital role in supporting the transition of poker players into casino, further optimising the two-way conversion pipeline.
With a track record of delivering first-class poker solutions to tier-one operators worldwide, the expansion positions EvenBet to unlock previously untapped revenue streams as it targets further global growth.
Dmitry Starostenkov, CEO at EvenBet Gaming, said: “The integration of our Turnkey Casino Platform and Game Aggregator into the EvenBet ecosystem represents a natural evolution of our offering.
“The modular platform has been engineered to remove the complexities typically associated with launching a casino, while also providing a clear pathway to a full-scale poker product.
“By leveraging two decades of industry experience and deep technical expertise, we are well equipped to support operators at every stage of their journey, from initial launch to global scale.”
The post EvenBet Gaming Launches its Turnkey Casino Platform and Game Aggregator appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Amusnet Italy
Amusnet Italy Announces Strategic Partnership with StarVegas
Amusnet Italy has announced a new strategic partnership with StarVegas, a prominent operator in the Italian iGaming landscape. This collaboration represents another step in the company’s mission to deliver top-tier gaming content to local players.
Under the agreement, StarVegas will integrate a selection of Amusnet’s some of the most successful titles, known for combining the nostalgic appeal of classic slot design with cutting-edge technology. The partnership aims to enhance the operator’s premium casino offering, delivering a more diverse and high-quality entertainment experience to its established player base.
The launch features some of the market’s top-performing titles, such as Extra Crown and Shining Crown, the engaging mechanics of 20 Golden Coins, and the fan-favourite 20 Super Hot. These games are recognised for their seamless performance, intuitive gameplay and high-quality graphics.
“Partnering with StarVegas is a significant milestone for our growth in Italy. We are confident that our iconic portfolio will bring strong value to their players and further reinforce our position as a leading provider in the region,” said Polina Nedyalkova, Director at Amusnet Italy.
“We are proud to welcome Amusnet to StarVegas, enriching our portfolio with a curated selection of titles inspired by traditional slot gameplay and enhanced with modern visuals and streamlined mechanics. This partnership reflects our commitment to delivering a diverse and engaging gaming environment, where accessibility, variety, and quality remain central to the player experience,” said Paolo Marchi, Brand Manager at StarVegas.
This agreement highlights Amusnet’s continued commitment to expanding its footprint in the Italian market, bringing its high-performing portfolio to an even broader audience.
The post Amusnet Italy Announces Strategic Partnership with StarVegas appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Andrew Kong
REEVO Announces New Partnership with Pitta+
REEVO has announced a new partnership with Pitta+, an emerging iGaming content provider focused on delivering engaging slot titles and interactive gaming experiences to operators worldwide. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its content offering with dynamic titles designed to appeal to a broad range of player preferences.
Through this partnership, Pitta+’s portfolio is now available on the REEVO aggregation platform, giving operators seamless access to fresh and engaging content through a single, efficient integration. The addition of Pitta+ reinforces REEVO’s commitment to continuously enhancing its platform with diverse and high-performing content that supports operator growth.
For REEVO, this partnership reflects its ongoing strategy to collaborate with innovative studios that bring creativity and performance to its growing aggregation platform.
Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Pitta+ is another exciting step forward for REEVO as we continue to grow our aggregation platform with diverse and engaging content. What stands out is their ability to deliver accessible gameplay combined with strong themes that resonate across different player segments. At REEVO, we focus on building an ecosystem that helps operators succeed, and this partnership strengthens our ability to offer content that drives engagement and long-term value.”
Andrew Kong, Head of Business Development at Pitta+, said: “We are very excited to partner with REEVO and bring the Pitta+ game portfolio to their extensive network. This collaboration represents an important milestone for us as we continue expanding our global distribution. REEVO’s strong aggregation platform and global reach make them an ideal partner, and we look forward to building a successful and long-term collaboration together.”
The post REEVO Announces New Partnership with Pitta+ appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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