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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 Oaks Gaming
Strategic partnership sees 3 Oaks Gaming expand its LatAm footprint with one of Mexico’s fastest-growing operators
3 Oaks Gaming has strengthened its presence in Latin America through a new strategic partnership with Winpot, one of Mexico’s fastest-growing online casino and sports betting operators.
The collaboration sees Winpot enhance its casino lobby with a selection of 3 Oaks Gaming’s most popular online slot titles, including Sun of Egypt, Coin Volcano, and the highly anticipated Chili Coins Hold and Win. These additions further expand Winpot’s offering and reinforce its position as a leading destination for slot enthusiasts in Mexico.
3 Oaks Gaming has quickly established itself as one of the industry’s most sought-after content providers, delivering slot experiences that consistently keep players engaged. The studio is widely recognised for combining engaging mechanics, balanced mathematical models, eye-catching visuals and immersive sound design to create premium gameplay experiences.
The integration adds further momentum to Winpot’s rapid rise in the competitive Mexican market. The operator has built a strong brand presence by offering generous bonuses, a wide range of payment options, fast withdrawals, dedicated customer support and an extensive portfolio of casino content. Winpot has also boosted its national visibility through a series of television campaigns featuring brand ambassador Miroslava Montemayor.
Commenting on the partnership, Tsvetan Dzhurov, Commercial Manager at Winpot, said:
“We have always positioned Winpot as the premier destination for slots in Mexico, and our partnership with 3 Oaks Gaming reflects that ambition. The provider has mastered the art of creating high-performance titles that resonate with players worldwide, and we’re thrilled to bring this level of quality to our local audience.”
He added:
“We’re confident that games such as Sun of Egypt and Coin Volcano will strongly appeal to our players, and we’re excited to see them spin the reels and discover why 3 Oaks Gaming is such a respected name in the industry.”
Ana Lucaroni, Sales Manager at 3 Oaks Gaming, commented:
“Our games are ideally suited to the Mexican market, combining thrilling gameplay with stunning visuals and immersive sound. They deliver the anticipation, entertainment and excitement that players are looking for.”
“Winpot is a high-calibre operator, and we’re delighted to see our titles featured in its casino lobby. This marks the beginning of a long and successful partnership that will deliver value for both sides.”
The post Strategic partnership sees 3 Oaks Gaming expand its LatAm footprint with one of Mexico’s fastest-growing operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ICONIC21
ICONIC21 and NuxGame Partner to Bring More Casino Content to Operators
ICONIC21 and NuxGame have announced a strategic partnership aimed at expanding casino content availability for operators worldwide.
Known for going beyond standard game delivery, ICONIC21 differentiates itself through branded gaming solutions tailored to the specific needs of each operator. The provider specialises in creating custom-built games designed to strengthen brand identity and drive deeper player engagement. ICONIC21’s expertise in live casino solutions was recently recognised with the Best Live Dealer Provider award at the 2025 European iGaming Excellence Awards.
Through this collaboration, NuxGame enhances its ability to support operator partners with a broader and more flexible content offering. By integrating ICONIC21’s portfolio into its iGaming software platform, NuxGame enables operators to expand their game libraries while catering to both traditional online casino brands and operators working with Sweepstakes Casino Software, a segment experiencing rapid growth.
ICONIC21 operates with a strong client-centric philosophy, prioritising a deep understanding of partner requirements. The provider delivers solutions with speed, precision and transparent communication, ensuring every gaming experience is personalised to elevate the operator’s brand and exceed market expectations.
As part of the partnership, operators will gain direct access to ICONIC21’s expanding content portfolio via the NuxGame Online Casino Aggregator, powered by a unified API infrastructure. This allows operators to seamlessly manage integrations, monitor performance and launch titles across multiple jurisdictions through a single, streamlined system.
Bar Konson, Chief Business Development Officer at NuxGame, commented:
“NuxGame is committed to providing our operator clients with best-in-class features and content for their iGaming services. ICONIC21’s focus on custom solutions and open communication makes them a strong addition to our ecosystem of trusted partners. This collaboration also strengthens our ability to support both classic casino operators and the rapidly growing sweepstakes casino segment.”
Edvardas Sadovskis, Chief Product Officer at ICONIC21, added:
“We’re excited to partner with NuxGame, whose flexibility and deep understanding of operator needs align perfectly with ICONIC21’s product-driven approach. Together, we can deliver seamless live casino experiences and custom-branded game solutions to a wider global audience.”
ICONIC21 and NuxGame will continue to collaborate on new game launches and long-term support initiatives, helping operators scale their businesses with personalised content and dependable technology.
The post ICONIC21 and NuxGame Partner to Bring More Casino Content to Operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Gaming
KOKA Noodles Partners with Grow uP Esports in a Collaboration Focused on the Gaming Community and Product Sampling
KOKA Noodles, the internationally recognised brand celebrated for its quality, convenience and wide range of flavours, has announced a new strategic partnership with Grow uP Esports, one of the most active and influential esports organisations in the national landscape.
The collaboration is driven by a shared goal: to bring the KOKA brand closer to the gaming community through authentic experiences, hands-on product sampling and creative activations that resonate with the lifestyle and values of gamers and esports fans.
As part of the partnership, KOKA Noodles will feature across a variety of Grow uP Esports initiatives, spanning both live and digital events, community-driven activations, content collaborations with athletes and creators, and experiential moments focused on tasting and direct interaction with KOKA products.
Commenting on the announcement, Telmo “Armag3ddon” Silva, representative of Grow uP Esports, said:
“At Grow uP Esports, we prioritise partnerships that genuinely benefit the community and add value to the ecosystem. KOKA Noodles is a natural fit for the gaming world thanks to its speed, practicality and variety. This collaboration marks another step in our mission to deliver meaningful and relevant experiences for gamers.”
For KOKA Noodles, the partnership reinforces its commitment to engaging young, digitally native and discerning audiences, where gaming and esports serve as powerful platforms for emotional and cultural connection.
“Gaming is a space where KOKA naturally belongs — dynamic, creative and social. Partnering with Grow uP Esports enables us to stay close to our consumers, create impactful product sampling opportunities and integrate the brand authentically into everyday gaming culture,” added a KOKA Noodles spokesperson.
The KOKA Noodles x Grow uP Esports partnership will roll out over the coming months, with a series of activations to be unveiled gradually, further strengthening the link between gaming, entertainment and immersive brand experiences.
The post KOKA Noodles Partners with Grow uP Esports in a Collaboration Focused on the Gaming Community and Product Sampling appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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