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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Eastern Europe
FeedConstruct locks up exclusive Romanian football data and streaming rights
Deal covers Romania’s FA Cup, Super Cup, Liga 2 and Liga 3, women’s Superliga and national team matches, plus Liga 1 Futsal.
FeedConstruct has signed an agreement to secure exclusive data and video streaming rights for a portfolio of Romanian football competitions, the company said.
FeedConstruct said the rights are held on an exclusive basis across the full season and expand its European football content for betting operators.
The agreement covers the Romanian FA Cup, Super Cup, Men’s Liga 2 and Liga 3, Superliga Women, Women’s National Team matches, and Liga 1 Futsal competitions.
Financial terms, contract duration beyond “the full season,” and any distribution or integrity safeguards were not disclosed.
The post FeedConstruct locks up exclusive Romanian football data and streaming rights appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Aztec Spell – Hold & Hit 3x3
Spinomenal releases Aztec Spell – Hold & Hit 3×3
Spinomenal has released Aztec Spell – Hold & Hit 3×3, adding a new Hold & Hit title to its slots portfolio.
The game runs on a 3×3 reel set and uses the Quetzal Bird as the Wild, substituting for all symbols except Bonus symbols. Two special Bonus symbols drive the main feature: Bonus symbols can land only on reels one and three, while Bonus Collect can land only on reel two.
The Bonus Game triggers when Bonus Collect lands alongside one or more Bonus symbols. Triggering symbols lock and the feature starts with three spins; during the feature only Bonus and Bonus Collect symbols can appear. Each spin can award multipliers of x1, x2, x5, x7, x10, and x15, and the round ends after three spins without a win or when total collected winnings reach the max x5000 multiplier.
Spinomenal said Grand, Major, Minor, and Mini in-game jackpot symbols can appear during the feature and pay immediately. A Bonus Blast feature can also trigger randomly to add extra Bonus and Bonus Collect symbols, and Spinomenal said Bonus Collect can still collect values even if it lands without starting the Bonus Game.
Spinomenal CO-CEO, Omer Henya commented: “Aztec Spell – Hold & Hit 3×3 casts players into a mysterious jungle on the hunt for Aztec riches enhanced by some cool gameplay features. The titles’s beautiful visuals and proven Hold & Hit mechanics come together perfectly to give players an experience for the ages.”
The post Spinomenal releases Aztec Spell – Hold & Hit 3×3 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Anthony Keen
Hard Rock Workers in Virginia Join Teamsters
A group of 221 table games dealers and dual rates at Hard Rock Hotel & Casino Bristol have voted to join Teamsters Local 519. They’re seeking a fair first contract that includes higher wages, improved benefits, and a strong voice on the job.
“Dealers and dual rates are the backbone of the gaming floor, and when they stand together, they have the power to win real improvements on the job. It was the best decision to choose the Teamsters, and we’re proud to support them as they move forward in securing a fair first contract,” said Tommy Blitsch, Director of the Teamsters Convention, Trade Show, and Casino Division.
The dealers are responsible for operating table games such as blackjack, roulette, and poker. They manage the games, handle chips and payouts, and ensure games are conducted fairly and efficiently.
“It was a team effort from start to finish, and we had the best team to fight for representation, including our organizer, Marty Hinch. At the drop of a hat we were ready to support this group in their effort to join the Teamsters. Their determination carried over, and they’re going to reap the benefits,” said Wes Trotterchaud, President of Local 519.
“Choosing to join the Teamsters was about securing respect, stability, and a voice on the casino floor. We’re ready to negotiate a contract that reflects the hard work we do every day,” said Anthony Keen, a table games dealer/dual rate and proud new member of Local 519.
Nationwide, the Teamsters represent nearly 6000 members at casinos and casino hotels.
Founded in 1903, the International Brotherhood of Teamsters represents 1.3 million hardworking people in the US, Canada, and Puerto Rico.
The post Hard Rock Workers in Virginia Join Teamsters appeared first on Americas iGaming & Sports Betting News.
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