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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Games Global
Striking a successful franchise: Building enduring value through high-impact IP
Mark MacCombie, Chief Commercial Officer at Games Global, discusses how combining creative evolution with strategic precision keeps franchises like Gold Blitz
at the forefront of player engagement and market performance.
New games drop daily, and the challenge is not just to be seen, but to be remembered. While it might seem tempting to think the only way to make noise is to completely reinvent the wheel, in reality, sometimes the smartest path to longevity is knowing when to build on established foundations. In an industry that moves at breakneck speed, the boldest move is often to double down on what you already do best and elevate proven concepts to new heights.
At Games Global, we know that the titles which stand the test of time strike the right balance between refreshed ideas and lasting appeal. Franchises succeed when they preserve the elements players already love, then expand on them with purpose and precision.
It is important for us as a global company to approach franchises as a core strategic pillar. They are not a byproduct of success, but rather a deliberate move, built with intent, shaped by an understanding of what drives player loyalty, and guided by an ambition to grow across markets and over multiple releases.
Success in this space comes from respecting the DNA of a title while having the courage to enhance it in ways that add genuine depth. Every decision is grounded in data from real player behaviour, insight from our operators, and the creative instincts of our studio partners. That combination of perspective and imagination is what allows us to launch games that feel instantly recognisable yet undeniably fresh.
The Gold Blitz
franchise exemplifies this philosophy perfectly, with Gold Blitz Express
, the fourth instalment in the core Gold Blitz
series, retaining the dynamic audiovisual design and Cash Collect mechanic that make it instantly recognisable for returning players. At the same time, it introduces the brand-new Express feature, which has already gained significant traction across our wider portfolio, alongside deeper bonus round progression with an Accumulation Trail, integrating an entirely new concept into the franchise.
These enhancements upgrade the overall experience, increase reward potential, and build intrigue, keeping energy high from the first spin to the last. When we set out to create Gold Blitz Express
, the objective was to build on what already worked rather than replace it. This is not change for the sake of change, but a considered approach focused on refinement, adding value and variety while remaining true to the heart of the original game.
This evolution is intentional. Every creative choice is part of a development process that combines discipline with innovation. Our studios have the freedom to explore bold ideas, but they are supported by a central framework that offers performance data, trend analysis, cross-market insights, and operator feedback. Obtaining this balance encourages experimentation while ensuring each title aligns with commercial goals.
Every sequel is approached as an opportunity to refine gameplay, adjust the pacing of features, and introduce surprises that feel like a natural extension of the brand. Features like this are what spark the interest of players while preserving the qualities they already love. The aim is to deliver games that keep people returning, not because of habit, but because each session offers something worth returning for.
Commercially, franchises offer powerful advantages. Operators know they are working with a dependable performer, while players experience a sense of trust that has already been established. This creates momentum from day one of launch, enabling faster adoption and longer lifecycle performance than a completely new IP might achieve.
Franchises like Gold Blitz
show how a well-considered evolution can have more impact than a complete reinvention. They demonstrate the strength of building on a solid foundation, adding new layers of engagement without losing the heart of the experience.
In a crowded marketplace, the real differentiator is smart progression, the kind that earns attention quietly and holds it for the long term. It is this progression – not the loudest change – that keeps a title relevant, rewarding, and poised to thrive for years to come.
The post Striking a successful franchise: Building enduring value through high-impact IP appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Acquisitions/Merger
RubyPlay agrees to acquire Splash Tech to add jackpots and free-to-play tools
Deal expands RubyPlay beyond content into platform-level engagement; transaction remains subject to regulatory approvals.
RubyPlay has entered into an agreement to acquire 100% of the shares in Splash Tech, as the supplier moves beyond content into platform-level engagement tools. The transaction is subject to regulatory approvals.
RubyPlay said the acquisition will add Splash Tech’s jackpot solution and Free-to-Play casino and sports capabilities to its existing engagement suite, which includes free spins, rewards, missions and tournaments. Following completion, RubyPlay’s operator partners will gain access to the Jackpot and Free-to-Play tools, designed to support engagement across third-party content as well as RubyPlay titles.
The company said Splash Tech’s engagement tools are already live with “some of the biggest operators and platform providers” globally. RubyPlay also said Splash Tech’s real-money jackpot product can turn “any product across all verticals into a jackpot game.”
Tsachi Maimon, CEO of RubyPlay, said: “Through this acquisition, we are moving beyond the traditional content silo to firmly establish RubyPlay as a premium content and engagement platform provider. This elevated market position ensures we are delivering new revenue streams for our partners, providing them with effective ways to address player acquisition and retention.
“Splash Tech has earned a strong reputation within the industry for driving innovation within the engagement tools space, underpinned by its superior expertise, data and content. Bringing the company’s capabilities into our broader offering marks a pivotal moment for RubyPlay’s evolution.”
Adam Wilson, CEO of Splash Tech, said: “Becoming a RubyPlay company will give Splash Tech a stronger foundation for growth, with continuity at the heart of this transition. Existing Splash Tech partners will continue to benefit from the same trusted products, expertise, and relationship focus they expect from us, and we’re looking forward to working alongside new partners with RubyPlay.
“As a global B2B iGaming company with a growing operator network and multi-market reach, RubyPlay brings greater scale, operator insight, and market credibility to support our ambition for further expansion and innovation.”
The post RubyPlay agrees to acquire Splash Tech to add jackpots and free-to-play tools appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Danny Gordon Head of Studio at DEGEN Studios
DEGEN Studios unleashes the Plague City chase
DEGEN Studios has launched Plague City, a Scatter Pays slot built around visible progression, escalating features and a 10,000x max win chase. Every winning combination spreads infection across the reels, creating bigger setups as players build towards Plague Wave Respins, Plague Breakout Free Spins and Super Free Spins.
During the base game, any position that forms part of a winning combination becomes infected, and as wins and cascades continue, the outbreak can spread across more of the reels.
A Med Kit should stop the outbreak. In Plague City, it starts the next stage. Landing a Med Kit while infected positions are active triggers Plague Wave Respins, where infected positions remain active, Wilds become sticky with multipliers, and Respins continue until every infected position has been healed or no further wins occur.
Every Sticky Wild begins with three lives. Each winning cascade reduces a Wild’s life by one, while every newly landed Wild increases the multiplier value of all active Wilds, allowing multiplier chains to continue growing throughout the feature.
The chase escalates further in Plague Breakout Free Spins. Triggered by four, five or six Scatters, every Free Spins feature begins with eight Free Spins. Scatter symbols are replaced by Vaccines, which award retriggers and upgrade the Starting Wild Multiplier, allowing future Wilds to land with increasingly higher multiplier values.
Land six Scatters and the outbreak reaches Super Free Spins, where every newly landed Wild increases the multiplier value of all active Wilds by +2x. From there, the max win chase becomes a race to collect Vaccines, extend the feature and continue landing new Wilds as multiplier chains grow towards 10,000x the bet.
For players looking to accelerate the chase, Buy Bonus and Activate options offer direct entry into Plague Breakout Free Spins, Mystery Buy, or boosted chances of triggering both Free Spins and Plague Wave Respins.
Danny Gordon, Head of Studio at DEGEN Studios, said: “At DEGEN, we’re obsessed with building gameplay that players can actually follow. In Plague City, every mechanic has a purpose. The infection spreads, Vaccines extend the feature, Wild multipliers continue growing and every step brings the max win chase closer.”
The post DEGEN Studios unleashes the Plague City chase appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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