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Evolution has entered into an agreement to acquire Nolimit City

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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.

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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 

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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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Aviatrix flying in Italy following certificate approval

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Aviatrix, the groundbreaking crash game renowned for its unique engagement mechanics, is building new partnerships in Italy following the granting of a certificate in the country.

The Italian certificate enables Aviatrix to collaborate with operators regulated by the Agenzia delle Dogane e dei Monopoli, introducing casinos fans in Italy to the award-winning game for the first time.

Players at many of the biggest brands in Italy will soon be enjoying Aviatrix.

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Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We are excited to be bringing Aviatrix to players in Italy for the first time. This is a market where innovation and player engagement are highly valued, so we’re certain our product will be a great fit. And more than that, we have an opportunity to play a central role in one of Europe’s most vibrant online gaming cultures. We can’t wait to get started with operators in the country.”

Aviatrix is fast establishing itself as an important game in regulated jurisdictions, as it already is in emerging ones.

The post Aviatrix flying in Italy following certificate approval appeared first on European Gaming Industry News.

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Set sail on a pirate quest with Belatra’s Tortuga Codex

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Belatra Games, the specialist online slots developer, has launched its pirate-themed title, Tortuga Codex. This 5×4 slot casts players on a journey on the hunt for untold riches buried on a mysterious island.

A Skull symbol acts as the Wild and will substitute for any other symbol to increase the chances of a win. An intriguing element to the game lies in the Additional Reel feature which sits above the main frame. It’s in sync with the main reels, displaying Wild symbols, special pirate icons, and numbers from one to nine. When three or more bomb Scatters come in, numbers on the Additional Reel become active multipliers in the bonus game. The more Scatters appear, the higher each multiplier value, amplifying the potential winnings.

In the main game, the Wild scatters a random number of Wild symbols onto the reels if there is a Scatter underneath it. When the Bonus Game is hit, the Wild symbol will be replaced by the number 9. Pirate Bob, Pirate Patrick and Pirate Girl symbols replace all minor symbols if there is a Scatter symbol underneath them. These symbols will be replaced by the numbers 8, 7 and 6 respectively.

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The Treasure Chest symbol awards players with a random win ranging from 5 to 1000 bets  if there is a Scatter symbol under it. This symbol is replaced by the number 5 when the Bonus game begins. A Coin gives the player a win of 10 bets on the game if there is a Scatter symbol underneath it – transforming into the number 4 for the Bonus. All numbers on the Additional Reel that fall out or appear in place of symbols will go into the Bonus Game when three or more Scatters appear on the reels. Hitting four Scatters will increase each number by one, landing five Scatters will increase each number by three – the maximum is nine.

Players trigger the Bonus Game with three or more bomb Scatters. Before it begins, the first and second cells open up on the Additional Reel at the top, then players must choose a chest that contains either a Plus, Multiplier, or a noose, which concludes the round. As players move down through the levels, the multipliers can increase depending on the chest’s bounty – the maximum is 59049x.

Sergey Chernyavski, Belatra Games’ CCO, said: “Tortuga Codex takes players deep into the perilous seas filled with hidden mysteries, legendary treasures, and ancient artefacts waiting to be uncovered on the reels. The Bonus feature gives players the perfect opportunity to chart a course to winnings.”

The post Set sail on a pirate quest with Belatra’s Tortuga Codex appeared first on European Gaming Industry News.

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BETBAZAR strengthens product line-up with GR8 Tech partnership

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Industry-leading B2B iGaming marketplace unveils collaboration with the high-performance sportsbook and iGaming platform provider to supply even more solutions to clients

Betbazar – the innovative technology company behind the world’s leading B2B iGaming marketplace – has this month revealed details of a recent partnership with GR8 Tech that will enable it to provide an impressive array of sportsbook solutions to customers.

With GR8 Tech being one of the industry’s most forward-thinking providers of sportsbook and iGaming platform software, the collaboration means all BETBAZAR clients will be able to choose from a wide range of products aimed at providing a more immersive online experience to players.

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While GR8 Tech’s award-winning sportsbook platform, MTS (managed trading services), and streamlined iFrame will all be available via the BETBAZAR marketplace, the star of the show from an operator’s perspective will certainly be the company’s critically acclaimed sportsbook data feed.

GR8 Tech developed this innovative solution to empower iGaming companies to supply an enhanced sportsbook experience to their customers. The GR8 Feed delivers real-time odds, scores, and statistics on approximately 100,000 events from the industry’s most trusted providers.

Covering everything from esports to American football, the feed itself is seamlessly integrated through an API and can harness the power of artificial intelligence to deliver live alerts and a dashboard that breathes life into customers’ statistics. All of this is backed up by bulletproof security features and a dedicated support team that’s available 24/7, 365 days a year.

Given the data feed’s scope to improve clients’ revenue streams and the myriad benefits offered by all of the other GR8 Tech solutions, the partnership will further establish BETBAZAR’s marketplace as the go-to destination for customers’ iGaming needs. Both parties are already looking forward to the numerous opportunities the collaboration should bring.

Alex Iaroshenko, Chief Executive Officer at BETBAZAR, said: “It goes without saying that if you want to be the iGaming industry’s leading B2B marketplace, you have to be able to offer the best products available – and in GR8 Tech’s innovative range of sportsbook solutions, we believe we’ve found a selection of services that will empower operators to offer a best-in-class user experience.

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“Covering everything from sportsbook platforms, managed trading services, and the company’s celebrated data feed, the GR8 Tech products available in our marketplace will ensure we remain at the forefront of innovation while also offering a comprehensive range of options to customers.”

Oleksandr Feshchenko, Deputy CEO & CRO at GR8 Tech, said: “At GR8 Tech, we really believe in the quality of our products and their potential to help operators stand out and maximise their revenue streams – so the next step is obviously to ensure they’re seen by as many customers as possible.

“By partnering with BETBAZAR and making our solutions available via their industry-leading B2B worldwide marketplace, we’ll be able to guarantee that even more prospective clients will have access to the services we offer. This will in turn allow us to empower even more operators to provide an enhanced experience to their end users.”

The post BETBAZAR strengthens product line-up with GR8 Tech partnership appeared first on European Gaming Industry News.

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