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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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Cevro
Golden Whale and Cevro team up to advance AI-driven player interaction
Golden Whale, a provider of machine learning-driven optimisation and decision intelligence for the iGaming industry, has partnered with Cevro, an AI-powered platform designed to automate and enhance player interactions across support and operational workflows.
At the core of the integration is Golden Whale’s Full Model Control framework, which uses ML models to continuously analyse live player behavioural data, enabling more precise decisioning across engagement and incentives, driven by deeper insight into player value, churn probability and behavioural intent. These decisions can then be actioned through Cevro’s AI agents, allowing operators to guide and control player-facing responses with greater precision across multiple channels, including chat, email and helpdesk, with voice capabilities set to follow.
Cevro’s platform supports a wide range of player-facing processes, including bonus queries, KYC checks, payment-related communications and responsible gaming workflows. By introducing decision intelligence into these touchpoints, operators can move beyond reactive support models and toward more proactive, context-aware engagement, where responses are informed by real-time signals around player value and behaviour.
Eberhard Dürrschmid, CEO at Golden Whale, said: “Operators are managing an increasing number of player communications across different touchpoints, and many of those processes are still handled in a reactive or manual way. By working with Cevro’s AI agents, we can connect our decision intelligence directly into these communication workflows, enabling operators to respond more precisely and consistently, while also reducing the complexity of managing these interactions at scale.”
Chaim Heber, CEO at Cevro, added: “Our focus is on helping operators automate and scale player interactions without losing quality or control. By integrating Golden Whale’s decision intelligence, we can bring a new level of precision into how our AI agents operate, using deeper signals around player value, churn risk and behaviour to guide responses. This not only improves resolution and efficiency but also allows operators to deliver more meaningful interactions that support retention and long-term player value.”
The post Golden Whale and Cevro team up to advance AI-driven player interaction appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
bet365
Evoplay strengthens Brazil footprint with bet365 deal
Evoplay, the award-winning game development studio, has strengthen its presence in Brazil through a new partnership with leading global operator bet365, marking another step in its growth across regulated Latin American markets.
The agreement sees a selection of top-performing Evoplay titles integrated onto bet365’s Brazilian platform, initially starting with standout releases such as Hot Triple Sevens and Temple of Thunder II Bonus Buy.
The partnership enables Evoplay to bring its diverse portfolio of high-performance content to one of the most promising emerging regulated markets, at a time when Brazil’s evolving landscape continues to create new opportunities for operators and suppliers alike.
By collaborating with bet365, a globally recognised brand known for its extensive reach and strong local engagement, Evoplay reinforces its commitment to delivering tailored content that resonates with regional player preferences.
Alex Malchenko, Head of Sales at Evoplay, said: “Partnering with bet365 represents an important milestone for Evoplay as we continue to expand our Latin American presence and build our network of global operator brands. Brazil is a market with huge potential, and we’re excited to bring a selection of our best-performing titles to its players.
“Our focus remains on supporting operators with content that not only meets regulatory standards but also delivers strong player engagement, and this collaboration is a testament to that approach.”
Spokesperson at bet365, added: “We are pleased to partner with Evoplay as we continue to enhance our offering in Brazil.
Their portfolio of localised games aligns well with our commitment to provide high-quality gaming experiences to our customers.
“We look forward to rolling out additional titles in the near future as we strengthen our collaboration with the supplier in this key market.”
Evoplay
Evoplay is a leading iGaming developer with a portfolio of 250+ slots, table, crash, and instant games.
It uses innovative gameplay and cutting-edge design to elevate user experience and bring new audiences to the world of iGaming.
The company’s commitment to innovation and revolutionary products was recognised by the most prestigious industry awards.
bet365
At bet365, it’s always extraordinary!
bet365 Casino is the home of gaming excitement, offering an extensive range of slots to choose from, including multi-layered jackpots, classic fruit games, and the latest innovative titles. Plus, with popular Live Games like Roulette, Blackjack, and Baccarat, there’s always something for every player.
bet365 is committed to Safer Gambling. We promote gambling as an enjoyable leisure activity, and we believe that gambling can only remain this way if you stay in control and gamble responsibly. However, we know that for some people gambling can stop being a harmless leisure activity and become a problem.
bet365 has a range of useful tools to help customers stay in control of their gambling that can be found at https://responsiblegambling.bet365.bet.br/br
The post Evoplay strengthens Brazil footprint with bet365 deal appeared first on Americas iGaming & Sports Betting News.
Advisiments
WE names Valentina Ursini Group Account Director for IBJR and key clients
Brazilian agency We has hired Valentina Ursini as Group Account Director, where she will lead business strategy and client relationships for accounts including EMS, Novibet, Jovi and IBJR (Brazilian Institute of Responsible Gaming).
Ursini brings experience from Leo Burnett, Ogilvy and TBWA, where she led global and local accounts for brands including Visa, Procter & Gamble, Motorola, Gatorade, Coty, Kimberly-Clark and Friboi.
“We has something that is rare today: genuine proximity to the client’s business and a very clear ambition for shared growth,” Ursini said.
“I am joining a team that already knows these clients deeply, and I bring a fresh perspective on expansion opportunities, efficiency and brand building.
It is about developing the business in a consistent and relevant way.”
Maurício Almeida, managing director at We, said Ursini’s appointment raises the standard of service for the agency’s strategic accounts.
“She combines expertise, consistency and a very pragmatic business vision, which is exactly what we look for in our model. She understands that client relationships only make sense when they translate into results.”
* The Brazilian Institute of Responsible Gaming is a private industry association representing licensed betting operators in Brazil. Its primary role is to support the development of a regulated, transparent and sustainable gambling market in the country.
The organization focuses on promoting responsible gaming practices, contributing to public policy discussions, and working alongside regulators to ensure compliance with Brazil’s evolving legal framework for betting.
It also advocates for consumer protection, market integrity and the reduction of illegal gambling activities.
In the context of the article, the IBJR appears as a relevant institutional player within the Brazilian iGaming ecosystem, reflecting the growing importance of industry representation as regulation advances.
The post WE names Valentina Ursini Group Account Director for IBJR and key clients appeared first on Americas iGaming & Sports Betting News.
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