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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Latest News
NyesteCasino.com Reports: iGaming Industry Navigates Dual Pressures of Regulation and Growth
Norwich, United Kingdom, June 15th, 2026, PlayNewswire
NyesteCasino.com, a leading iGaming analysis resource, released its latest industry overview, highlighting a week defined by intensifying regulatory scrutiny alongside continued global market expansion.
From U.S. Senate hearings and a widening circuit split to the localisation of crypto casinos and a surge in World Cup betting activity, iGaming operators have been balancing risk management with aggressive growth strategies.
Over the past week, the global iGaming sector has faced two powerful and often conflicting forces. Regulators across the United States, Europe, Southeast Asia, and South America have tightened rules around prediction markets, sweepstakes casinos, and credit card usage for deposits. At the same time, online gambling platforms, content providers, and policy advisors have accelerated product innovation and executed timely, region-specific sports marketing campaigns.
According to NyesteCasino.com’s team, these developments signal a broader structural transition across the industry—one in which compliance agility is rapidly becoming as critical to success as product quality. Despite increasing regulatory headwinds, the pace of innovation and market demand continues to point toward sustained sector growth.
Prediction Markets: Courtrooms, Congress, and Cross-Border Bans
The week started with a long-awaited US Senate Commerce Subcommittee gathering. The hearing named “No Sure Bets” took place on May 20 under Chair Marsha Blackburn, and Blackburn indicated more sessions were to come. The debate between American Gaming Association CEO Bill Miller and former Congressman Patrick McHenry quickly turned into a clash over the future of prediction markets. While Miller named the sports event contracts as backdoor betting operations bypassing the state licences, tax regulations, and integrity safeguards, McHenry talked on behalf of the Coalition for Prediction Markets and opposed him, stating that the current CFTC supervision is working perfectly.
On 22 May, a panel from the Ninth Circuit rejected the stay requests filed by both Kalshi and Polymarket, refusing to halt state enforcement proceedings in Nevada and Washington, which complicated the legal situation even more. The court ruled that a federal preemption defence under the Commodity Exchange Act cannot, on its own, establish federal jurisdiction. The ongoing disagreement in the appeals court of New Jersey, which had previously upheld a Kalshi injunction, has gained strength with this decision. Moreover, the process leading to a Supreme Court review of state jurisdiction over event contracts has accelerated even more.
Indonesia’s Ministry of Communication and Digital Affairs categorised Polymarket as an online gambling site, disregarding its crypto-based structure, and has requested a national ban on the market platform on May 25. The reason for this request was a viral contract regarding whether President Prabowo Subianto would resign before the end of his term in October 2029. The contract generated a trading volume of approximately $46,000. The number of jurisdictions where Polymarket is inaccessible is growing, exceeding 33 around the world now, including India, Brazil, and Singapore, among other new blockers.
State-Level Regulations: An Anti-Sweepstakes Bill from Tennessee
There have also been state-level restrictions in Tennessee on online gambling law. During the same week, Governor Bill Lee signed two vital bills. Senate Bill 2136 made Tennessee the ninth US state banning sweepstake casinos and dual-currency systems completely, which grants the attorney general the power to enforce it. And according to the SB 1992, the second bill signed by the governor, anyone who deliberately influences the outcome of an event whilst holding a prediction market contract will be charged with a Class E felony. It is expected that these bills will guide other state legislatures who are planning similar regulations at the moment.
Europe and Brazil: Tax Proposals, Ad Restrictions, and Credit Bans
The European Parliament held a plenary debate on May 20 on a proposed EU-level gambling levy. Budget Commissioner Piotr Serafin confirmed the Commission is actively assessing the option alongside digital services and crypto-asset levies as part of the next Multiannual Financial Framework. Proponent MEP Victor Negrescu estimated the levy could raise between €2 and €4 billion annually for education, youth, and addiction prevention programmes. Opponents from EPP and ECR blocs raised concerns over subsidiarity, competitiveness, and national tax sovereignty, with any operational package targeted for January 2028.
Belgium’s Kansspelcommissie and the Netherlands Gambling Authority separately issued formal World Cup advertising warnings to licensed operators ahead of the June 11 to July 19 FIFA tournament. France’s ANJ flagged a year-on-year rise of more than 25% in operator marketing budgets as the tournament approaches. Meanwhile, Brazil formalised rules on May 25 to close off Pix Crédito as a deposit method on regulated betting platforms, a move prompted in part by a Folha de São Paulo audit revealing that major banks including Bradesco and Banco do Brasil, were still processing credit transfers into betting accounts as recently as mid-May.
Editorial Perspective
“What this week makes clear is that the iGaming sector is entering a phase where regulatory IQ is as strategically important as product development,” said the editorial team at NyesteCasino.com. “The prediction markets debate alone spans courtrooms, congressional hearings, and international bans and it is far from resolved. Operators who can track and adapt to this multi-jurisdictional complexity while still executing on World Cup campaigns and localisation strategies will be best positioned for the second half of 2026.”
About NyesteCasino.com
NyesteCasino.com is a leading independent iGaming review and analysis platform. The editorial team tracks regulatory developments, operator news, and product releases across global markets to help players and industry professionals navigate the evolving online casino landscape. Users can learn more at nyestecasino.com.
Contact
Author
Anita Haugen
Nyestecasino
Compliance
DraftKings renews multi-year geolocation deal with GeoComply
DraftKings has renewed a multi-year agreement with GeoComply to continue providing real-time geolocation and compliance services, the companies said.
The extension comes after DraftKings’ Super App launch, a unified platform approach that lets customers access either sportsbook or sports predictions depending on their location. The press release positions the renewal as supporting scale, fraud controls, geolocation and compliance requirements tied to that rollout.
GeoComply said its geolocation signals are embedded into DraftKings’ internal risk workflows, including step-up authentication and automated decisioning. The vendor said it processes 2.5 billion checks a month across its platform.
Under the extended agreement, the companies said GeoComply will continue to support DraftKings with dedicated forward-deployed engineering support.
“The operators winning this next cycle are treating geolocation intelligence as critical trust infrastructure,” said Kip Levin, CEO of GeoComply. “DraftKings has done that for years. This extension reflects how seriously they take the architecture behind player trust—and it’s what lets them keep moving fast on everything else.”
The post DraftKings renews multi-year geolocation deal with GeoComply appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Brazilian License
Groove Secures Pivotal Brazilian License, Cementing LATAM Expansion
Platform pioneer unlocks one of the world’s most dynamic iGaming markets, offering operators and providers a seamless, compliant gateway to millions of new players.
Groove, the award-winning iGaming aggregation platform, has today announced a monumental leap in its global expansion strategy with the official granting of its license to operate in Brazil.
This landmark regulatory approval marks a decisive moment in Groove’s strategic blueprint for Latin America, a vision further reinforced by the significant strengthening of its established and fully regulated infrastructure in Argentina. Together, these developments create an unrivalled dual-hub strategy, positioning Groove as the definitive gateway to the continent.
This hard-won license provides a fully compliant and powerful conduit for Groove’s partners to engage a market on the cusp of historic growth. For operators, it translates to a frictionless, single-integration pathway for capturing market share in this coveted region. They can now leverage Groove’s robust platform to deploy a fully localised and compliant casino offering at unparalleled speed, complete with curated game portfolios tailored to local preferences, integrated local payment processing, and bespoke marketing tools designed to captivate Latin American players. This eliminates years of complex regulatory legwork, allowing partners to go to market in a matter of weeks, not years.
For game studios and content providers, the Brazilian license acts as a direct and streamlined conduit to a vast new audience. Groove offers a managed route to market, taking on the heavy burden of complex regulatory technical standards and certification processes. This allows creators to focus on their core mission of developing world-class entertainment, secure in the knowledge that their content will be efficiently placed in front of a massive, engaged audience through a trusted and fully compliant pipeline.
Rachel Tourgeman, Head of Partnerships at Groove, emphasised the transformative nature of this development. “The green light in Brazil is more than a license; it’s a key that unlocks a kingdom of opportunity for our partners. We’ve built a platform capable of not just entering, but driving in regulated markets.”
Tourgeman put the new license in perspective, saying: “Operators can now immediately tap into Brazil’s immense potential, while providers gain a trusted pipeline to a passionate new player base. This is a definitive moment that accelerates the entire LATAM iGaming ecosystem.”
This strategic expansion is a direct reflection of Groove’s commitment to being the most reliable and agile aggregation partner in the world’s most promising emerging markets. With over 20,000 games available and a raft of over 150 games partners, Groove brings unrivalled choice to the Brazilian market.
Yahale Meltzer, Co-Founder and CEO of Groove, commented, “Our vision has always been to build the bridges that connect great content with passionate players, wherever they are. Securing our Brazilian license and reinforcing our Argentine operations is a testament to our team’s relentless execution and our long-term commitment to LATAM.”
Meltzer concluded: “We are not just following trends; we are actively architecting the future of iGaming in the region, providing a secure, scalable, and sophisticated platform for our partners to grow with us. The door to Latin America is now open, and Groove is the key.”
For further information visit the new web domain at www.groovetech.com
The post Groove Secures Pivotal Brazilian License, Cementing LATAM Expansion appeared first on Americas iGaming & Sports Betting News.
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