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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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Asia
BMM Testlabs to Exhibit at SiGMA Asia Summit 2026
BMM Testlabs announced its participation in the SiGMA Asia Summit May 31-June 3 at the SMX Convention Center Manila.
Attendees can visit BMM Testlabs at Stand No. 2619 to learn how the Company supports suppliers, operators and regulators across regulated gaming markets worldwide through its comprehensive compliance and product certification services.
BMM will highlight its ability to test and certify gaming products to every regulator’s standard, anywhere in the world.
In the Philippines, BMM Testlabs is licensed to provide testing and certification services for slot machines, table games, electronic table games, iGaming, bingo, retail and online sports betting, poker and mobile gaming solutions.
BMM Testlabs’ Vice President, Business Development – Asia Jeffrey Fong said: “SiGMA Asia Summit continues to be an important event for the gaming industry across the Asia-Pacific region. We are proud to support suppliers, operators, and regulators with trusted compliance expertise that helps bring products to market efficiently and responsibly. Our global experience, combined with our strong regional knowledge, allows us to help our customers grow confidently in regulated gaming markets throughout Asia and beyond.”
BMM Testlabs continues to expand its support of regulated gaming markets worldwide through its global network of laboratories and technical experts, helping customers achieve faster market access while maintaining the highest standards of quality, security and regulatory compliance.
The post BMM Testlabs to Exhibit at SiGMA Asia Summit 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Amusnet
Amusnet Hosts Second Charity Run to Empower Bulgarian Athletes
For a second consecutive year, Amusnet united employees, families, friends and sports enthusiasts around a meaningful cause through the Amusnet Charity Run. It is a corporate initiative combining active lifestyles, teamwork and social impact. The event was initiated by Konstantin Ivanov, Director, Engineering Casino at Amusnet, and has quickly become a growing tradition within the company.
This year’s edition attracted nearly 200 participants, including representatives from almost every division across the organisation, with especially strong involvement from the technical, product, compliance and production teams. Employees took part alongside family members and friends, turning the event into a celebration of community spirit and shared values.
The initiative aims to support athletes from the National Paralympic Organisation in their preparation for upcoming national and international competitions. For every kilometre completed, Amusnet donated funds to the Organisation in support of the athletes and their future participation in competitions, reflecting the idea that sport unites people, builds resilience and drives positive change.
Participants collectively covered an impressive 960 kilometres, and the atmosphere throughout the event reflected strong engagement and enthusiasm across all levels of the company, from employees and specialists to division leads and management representatives. Many colleagues joined the initiative for a second consecutive year, further reinforcing the event’s importance within the company culture.
“This event is a sporting challenge for us, but also reflects the spirit of solidarity and responsibility shared across the company. Seeing so many colleagues and their families personally support this cause proves that when people unite around a meaningful mission, they can create real impact,” said Konstantin Ivanov, Director, Engineering Casino at Amusnet and initiator of the Charity Run.
Ilia Lalov, Chairman of the National Paralympic Federation, said: “Support like this is invaluable for our athletes. Beyond the financial contribution, initiatives such as the Amusnet Charity Run send a strong message of respect, inclusion, and encouragement to the entire Paralympic community. We are grateful to everyone who stood behind this cause.”
The post Amusnet Hosts Second Charity Run to Empower Bulgarian Athletes appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Amusnet Greece
Amusnet Goes Live with Superbet in Greece
Amusnet Greece has launched its portfolio on Superbet.gr, marking an important step in strengthening its presence in the Greek regulated market.
Through this partnership, the players can now enjoy a selection of Amusnet’s most popular and proven titles, known for their engaging gameplay, reliability and high-quality design. The rollout features 69 top-performing titles, providing a robust selection of content from day one.
The initial release for Greece includes world-renowned games such as Shining Crown and Shining Crown Buy Bonus, the 14 Golden Coins Link Jackpot titles and the popular “Hot” series featuring Super Hot, Power Hot and Burning Hot. These games offer players a balanced mix of classical mechanics and modern features, tailored to the local audience’s preferences.
“We are grateful to be part of Superbet’s entry into the Greek market and excited about the opportunities this partnership brings. With our strong local presence and proven performance in the market, we are confident we can support Superbet in building a competitive and engaging offering from day one,” said Jelena Stankovic, Director at Amusnet Greece.
“Partnering with Amusnet, a globally renowned provider with strong traction in the Greek market, marks another milestone in our ambitious growth journey, while elevating our commitment to delivering a next-level, immersive entertainment experience for our customers,” said Stathis Leontaritis, Casino Lead at Superbet Greece.
The launch further reinforces Amusnet’s commitment to expanding its footprint in key regulated markets while delivering tailored, high-quality content to local audiences through trusted partners like Superbet.
The post Amusnet Goes Live with Superbet in Greece appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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