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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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3 Pigs of the Caribbean
Gaming Corps sets sail with 3 Pigs of the Caribbean – a swashbuckling new chapter in its hit Pigs series
Reading Time: 2 minutes
Hams Ahoy! The iconic trio return for a pirate-themed Hold & Win adventure
Gaming Corps – a publicly-listed game development company based in Sweden, has unveiled 3 Pigs of the Caribbean, the latest and most ambitious instalment in its hit Pigs series. Following the runaway success of 3 Pigs of Olympus, the notorious trio return for a high-seas escapade packed with charm, humour, and treasure-filled potential.
Set against sun-drenched islands and creaking pirate ships, 3 Pigs of the Caribbean invites players to join the three swashbuckling pigs on their hunt for fortune. Every spin feels like a roll of the waves, as the pigs dig, hoard, and plunder their way across the reels in search of glittering rewards. Played across a 5×3 grid with 243 ways to win, this high-volatility Hold & Win slot captures the thrill of adventure with its dynamic mix of prize collection, grid expansion, and feature upgrades.
At the heart of the game is the Bonus Hold & Win Game, triggered by landing six or more Prize Coin symbols or a combination of Prize and Pig Coins. Once activated, players set sail on a bonus round that can expand to a 5×5 grid, where every spin offers new treasures to uncover. Each of the three Pig Coins brings its own brand of mischief and reward: the Red Pig expands the grid and adds new win possibilities, the Yellow Pig boosts prizes with multipliers of up to x10 and can award random values of up to 100x the total bet, while the Blue Pig adds extra respins and can also deliver random values of up to 100x the bet.
Adding to the chaos is the Mystery Pig, which can transform into any of the three Pig Coins to trigger surprise upgrades mid-bonus. Meanwhile, the Collector Chest feature keeps the base game brimming with activity, scooping up the values of Prize Coin symbols as they land. The brand-new Prize Gem system adds long-term treasure hunting to the mix, with four collectible tiers: Mini, Minor, Major, and Grand – each unlocked through colour-coded progress bars. When a bar is filled, a matching Prize Gem drops onto the grid, delivering a haul worthy of the high seas.
With an RTP of up to 95.81% and a rich tapestry of features that blend instant rewards with long-term engagement, 3 Pigs of the Caribbean represents a major evolution in the Pigs franchise, and one of Gaming Corps’ most feature-packed titles to date.
Viacheslav Pechernyi, Product Owner at Gaming Corps, said: “The Pigs have become a cornerstone of our portfolio and a player favourite around the world. With 3 Pigs of the Caribbean, we wanted to take everything that made the series successful – fun characters, smart mechanics, and big win potential, and send them on their most daring voyage yet. We can’t wait to see how it performs.”
The post Gaming Corps sets sail with 3 Pigs of the Caribbean – a swashbuckling new chapter in its hit Pigs series appeared first on European Gaming Industry News.
Aaron Magpayo Chief Product Officer at Playnetic
Elantil adds Playnetic to ever-expanding list of marketplace options
Reading Time: 2 minutes
Pioneering platform solutions provider integrates with innovative B2B content provider to give operators access to even more immersive gaming entertainment
Elantil, the disruptive platform solutions provider that’s rewriting the playbook for operators with its strategic iGaming backbone, has announced that it has further enhanced the range of options available via its online marketplace after partnering with Playnetic.
Having only launched in 2023, Playnetic has rapidly established itself as one of the industry’s go-to B2B content providers due to its unwavering reliability and exceptional customer service. Dedicated to providing immersive entertainment experiences, Playnetic has established three in-house studios that work closely with their commercial team to understand operator and partner requirements.
With all releases being informed by market insights, advances in technology and the latest gameplay trends, Playnetic titles combine high-quality visuals and audio with cutting-edge innovation and are backed by the company’s promise to consistently deliver, on time, every time.
As such a partner-oriented content provider, Playnetic will undoubtedly prove another welcome addition to Elantil’s Marketplace, with all operators now being free to reach out to the game provider directly and form their own simple, flexible agreements without Elantil dictating any of the terms.
By partnering with Elantil, Playnetic gains a platform that puts freedom, agility and control back at the heart of their operations. Elantil’s modular, API-first architecture enables swift market entry and reduces the delays that legacy systems often impose. Operators are able to launch new titles such as Piggy Plunder and Joxer, as well as brands or markets much faster, avoid rigid revenue-share burdens and minimise integration complexity and hidden costs.
Moreover, direct access to Playnetic’s immersive games portfolio means operators can refresh and diversify their lobbies, engage with players and scale into new markets with confidence.
John Debono, Chief Technical Officer at Elantil, said: “With Elantil’s Marketplace redefining the way that operators and suppliers do business, we’re delighted to be adding Playnetic to our growing list of integrations. As one of the most partner-focused B2B content providers around, our operators can now contact them directly to form bespoke deals that truly benefit their business.”
Aaron Magpayo, Chief Product Officer at Playnetic, said: “Our integration with Elantil’s Marketplace allows operators to access Playnetic’s content more seamlessly than ever before. It’s an important step that improves delivery efficiency, accelerates market access, and supports our goal of creating tailored, high-performing gaming experiences for every partner”.
The post Elantil adds Playnetic to ever-expanding list of marketplace options appeared first on European Gaming Industry News.
Endorphina
SkillOnNet and Endorphina Unite in New Multi-Market Deal
Reading Time: < 1 minute
Partnership Brings Endorphina’s Top Titles to SkillOnNet Brands Worldwide
Players across global entertainment brand SkillOnNet’s leading network of online casino brands can now dive into a fresh lineup of cutting-edge games, thanks to a new strategic partnership with award-winning software provider Endorphina.
Endorphina has been wowing the industry with a steady stream of hit titles like Hit Slot, Crown Coins, Lucky Streak 1000, Chance Machine, Fortune Chests and Thunder Crown. The company was crowned “Provider of the Year” at the AffPapa iGaming Awards 2025. Its games are now live with SkillOnNet across multiple jurisdictions.
SkillOnNet powers a diverse portfolio of iGaming brands, including household names like PlayOJO and Slingo, as well as regional favourites such as PlayUZU (Spain, LATAM), DrückGlück (Germany), and BacanaPlay (Portugal, Brazil).
The deal cements the company’s strategy of building the world’s most comprehensive games library through long-term partnerships with the very best emerging and established developers in the industry.
SkillOnNet operates more than 30 online casinos in numerous regulated jurisdictions across the globe, while providing turnkey solutions to top brands worldwide.
Jani Kontturi, Head of Games at SkillOnNet said: “We are delighted to partner with Endorphina and to bring their exceptional titles to our brands. We’re all about finding partners that share our core values around innovation, quality and responsible gaming. Endorphina delivers on that, while pushing the boundaries of game design and technical excellence. They have a deep understanding of what players want.”
Nare Grigoryan, COO-Malta at Endorphina said: “We’re proud to collaborate with SkillOnNet, a company with global reach and expertise. This deal allows us to amplify our presence in many regulated markets while delivering real value to players through a trusted, forward-thinking partner.”
The post SkillOnNet and Endorphina Unite in New Multi-Market Deal appeared first on European Gaming Industry News.
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