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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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Amanda Slonzon VP of Compliance and Regulatory Strategy at RubyPlay
RubyPlay’s US Playbook – Turning compliance into a growth engine
After securing entry into its second US state, and with a third firmly in sight, RubyPlay is sharpening its compliance strategy to balance speed with precision. Amanda Slonzon, VP of Compliance and Regulatory Strategy, explains how the company’s US Playbook is helping to turn regulation into a growth engine, from leveraging New Jersey as a benchmark, to preparing for Pennsylvania’s unique challenges, and building trust-based relationships with regulators and partners across the industry.
When people think about compliance in the US iGaming industry, they often imagine it as the handbrake that slows expansion and stifles innovation. For me, it is the opposite as compliance sits in the driver’s seat. It is not simply a support function but a product in itself that enables us to grow faster, enter new markets with confidence and strengthen our relationships across the industry.
The US online casino market is both highly promising and highly fragmented. Only seven states currently regulate iGaming and each has its own framework. Navigating this landscape requires a deep understanding of both the common threads between states and the subtle differences that can make or break a market entry.
This is why we have developed a US Playbook at RubyPlay, which is a detailed, in-house framework for understanding and applying state-by-state requirements in a way that is tailored to our products and infrastructure. With it, our compliance and regulatory specialists break down each regulation, interpret it in the context of our business, and share that knowledge across the company.
Market comparisons
New Jersey will always be the starting point for most operators and suppliers entering the US. It was the pioneer of state-level regulation and, in many ways, still sets the standard for others to follow. Meeting New Jersey’s requirements ensures a company is well-prepared for other states, many of which recognise its certifications. Delaware, for example, places direct reliance on New Jersey approvals, a pragmatic approach that can streamline entry for those already licensed in the Garden state. But even with these efficiencies, each state demands its own level of preparation and adaptation.
Regulators in the US take compliance very seriously and ensure that every technical aspect of a business meets their requirements. Unlike some EU markets, where providers may not need a B2B license, every US state requires B2B licensing through a thorough, state-specific process. While major shifts are rare, when they occur they can significantly impact the industry. Right now, sweepstakes is the most talked-about development, and with New Jersey’s Governor having recently signed the ban into law, we are seeing a wave of prohibition that will have a major impact across the industry. Our role is to remain attentive, follow changes daily, and ensure we stay as compliant as we intend to be.
Every state also has its own technical standards, licensing requirements, tax structures, and approaches to product approval. For example, Pennsylvania applies the highest tax rate on operators in the country yet remains one of the most attractive among operators. It also has a deeply ingrained gaming culture and a large, active player base. Entering a state like Pennsylvania, which is a key target for RubyPlay in 2026, is not just about passing compliance checks but more about understanding the regulator’s expectations, the market’s economic realities and the cultural context of its players.
Fostering close relationships
One of the most important aspects of operating in the US is the strength of relationships with key stakeholders across the entire ecosystem. I have always believed that a strong relationship with the regulator is just as critical as meeting their requirements on paper. We work to ensure that regulators see us as partners who bring solutions, not problems. We communicate openly and demonstrate that we take their rules as seriously as they do. The same process applies to how we work alongside our industry partners. From platform providers or operator customer, we approach every partnership as a collaborative effort to succeed together.
Culture plays a vital role in how we approach regulation. Compliance is considered a technical discipline, but ultimately it is powered by people who care about getting processes and frameworks robust. I am proud to lead a team that is collaborative and solution-oriented. One of my proudest moments recently came during a recruitment process where I was speaking with a candidate for a role within our compliance team. She told me she had been following RubyPlay closely and was so impressed by our company culture, the pride we take in our work and the way we treat our people, that she was willing to relocate to another country just to join the team. It is a real story that speaks to the environment we have built.
Regulation in the US is not going to advance overnight. The state-by-state approach will remain and evolve, and new product categories will emerge that challenge existing frameworks. My perspective is that the companies who thrive will be the ones who embrace this complexity, invest in understanding it deeply, and treat compliance as a strategic asset rather than an operational hurdle.
The US Playbook we have developed is our way of making that happen. It is an ever-evolving strategy that keeps us compliant, competitive and ready for whatever comes next.
The post RubyPlay’s US Playbook – Turning compliance into a growth engine appeared first on Gaming and Gambling Industry in the Americas.
SOFTSWISS, a global tech provider with over 15 years of iGaming expertise, introduces its Gambling Regulation Directory, a new website section designed to help operators navigate the complex landscape of gambling laws worldwide.
The Gambling Regulation Directory provides a structured overview of the legal status of gambling across multiple countries, both land-based and online. With an interactive regulation table and map (coming soon), operators will gain a clear picture of where gambling is permitted, restricted, or prohibited, and evaluate the opportunities, risks, and compliance requirements for entering or expanding into specific markets.
The country profiles also highlight which activities are allowed or prohibited, outline available information on taxation, fees, and licensing terms, and outline key licence details such as duration and permitted activities. In addition, each profile indicates whether SOFTSWISS products are certified or aligned with local regulations, showing operators where SOFTSWISS solutions are ready for use, and underlining our experience and readiness to support them in these markets.
Practical Value for Industry Stakeholders
- Strategic Planning: A trusted reference point for evaluating opportunities and supporting informed decision-making.
- Efficiency: Centralised, up-to-date regulatory information saves time on research.
- Expert Oversight: SOFTSWISS specialists monitor developments to ensure the Directory reflects the latest licensing and legislative changes.
“At SOFTSWISS, we provide a trusted foundation for launching and growing iGaming brands. With the introduction of the Gambling Regulation Directory, we stay true to our goal of offering advanced solutions and empowering operators with the knowledge and insights they need to grow responsibly and sustainably in highly regulated markets. Building on this commitment, our certified software meets the requirements of multiple national regulators, enabling operators to confidently enter new markets with full compliance,” added Olga Resiga, Chief Business Development Officer at SOFTSWISS.
The iGaming Regulation Directory is an evolving resource. Not all country profiles are available yet, but the SOFTSWISS team is committed to updating the Directory regularly with new jurisdictions and the latest regulatory changes.
At SBC Lisbon 2025, Stand B160, visitors will have the opportunity to explore the new Gambling Regulation Directory and exchange views on industry trends with the SOFTSWISS Team.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Platform and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Releases Gambling Regulation Directory for iGaming Operators appeared first on European Gaming Industry News.
BETBY, a premium provider of innovative sportsbook solutions, will unveil a major update to its AI-powered sportsbook suite of tools, AI Labs, at the upcoming SBC Summit Lisbon 2025. The upgrade delivers enhancements across Betting Tips, Personalization, and Entertainment Feed, marking another step in BETBY’s mission to transform the sports betting experience through advanced AI.
The first major enhancement is to Betting Tips, BETBY’s tool that provides data-driven insights to help users make more informed decisions. Already covering multiple sports and esports in 25 languages, the feature now scales to 40,000 events per month, the widest coverage in the industry. Most importantly, BETBY is launching live betting tips, an industry-first that reacts to in-game data and updates recommendations in real time. This ensures players receive advice that reflects the actual match conditions, not outdated pre-match assumptions. Moreover, BETBY also shifted focus from traditional markets such as 1×2 to combined markets like “1×2 & Total”, which deliver both higher margins and stronger interaction when complemented with tips.
The second key update is the launch of the enhanced Personalization engine. Designed to tailor the betting journey to each player, the new model introduces real-time personalization that adapts instantly to bets as they are placed. By combining individual preferences with hourly, daily, and weekly trends, the system empowers operators with precise retention tools while giving players more relevant and engaging experiences.
The third enhancement is an evolution of the Entertainment Feed, BETBY’s AI-based feed for non-sporting events such as movies, series, games, TV shows, and breaking news. The feed has expanded beyond generating markets to actively monitor live developments, ensuring odds remain relevant and settlements are automated. Currently used as an alerting system for traders, this update paves the way for fully automated entertainment markets.
Additionally, BETBY’s AI-powered Risk Management system continues to demonstrate market-leading performance, now identifying the top 15% of high-risk players with 99.99% accuracy. This achievement highlights BETBY’s unique combination of speed, precision, and robust analytics in ensuring a secure and profitable operator ecosystem.
“With these upgrades, AI Labs enters an entirely new phase,” said Danil Emelyanov, Head of BETBY’s AI Labs. “We are not only increasing coverage and efficiency but also pioneering features such as live betting tips and automated entertainment markets. These innovations empower operators to engage players in ways no other supplier in the industry can match.”
The upgraded AI Labs features will be officially presented at SBC Summit Lisbon 2025, where BETBY will showcase how its AI-driven approach continues to set new benchmarks for personalization, engagement, and operator success. Attendees are invited to visit BETBY at stand C110 to experience first-hand the supplier’s comprehensive sportsbook solution and its latest innovations.
To find out more about BETBY, visit: https://betby.com/
The post BETBY TO PRESENT MAJOR AI LABS ENHANCEMENTS AT SBC SUMMIT LISBON appeared first on European Gaming Industry News.
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