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Evolution has entered into an agreement to acquire Nolimit City

Published

4 years ago

June 22, 2022

Reading Time: 2 minutes

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.

casino games

F*Bastards says it now distributes content via 400+ operators worldwide

Published

2 hours ago

July 7, 2026

Wladimir P.

f*bastards-says-it-now-distributes-content-via-400+-operators-worldwide

F*Bastards says its casino content is now available through more than 400 operators worldwide, marking a distribution milestone for the iGaming supplier as it continues to expand its portfolio and partner network.

In a company statement outlining its background, Co-Founder Ugnius Seskas said the team’s earlier attempt to build a game studio fell short due to positioning rather than production capability. “Looking back, we realised we weren’t missing talent. We were missing identity. We could build games, but we hadn’t built something people could remember. That lesson became the starting point for everything F*Bastards would later become.” says Co-Founder Ugnius Seskas.

The company said it intentionally built its brand around differentiation, including the decision to use the name F*Bastards despite the expectation it would split opinion among potential partners. The founders described early progress as incremental, driven by game releases, industry events, operator feedback and relationship-building, rather than a single breakout moment.

F*Bastards also pointed to a fundraising milestone in 2026, saying it secured its first seven-figure investment. The company positioned the round as validation of execution rather than an early-stage concept.

“From day one, the goal wasn’t to become the biggest supplier. It was to build something people would remember. We’ve come a long way, but in many ways, it still feels like we’re only getting started” says Co-Founder Ugnius Seskas.

The post F*Bastards says it now distributes content via 400+ operators worldwide appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

API integration

Belatra signs cooperation deal to distribute slots via VeliGames

Published

2 hours ago

July 7, 2026

Wladimir P.

belatra-signs-cooperation-deal-to-distribute-slots-via-veligames

Belatra has signed a cooperation agreement with VeliGames to distribute its online slots to operators across Latin America, Africa and Asia. The deal was announced Tuesday 7th July 2026.

VeliGames is a game aggregation platform by VeliTech. The companies said the platform is designed for operators in Latin America, Africa and Asia, with architecture optimised for unstable internet connections and low-cost devices.

Under the expanded agreement, VeliGames will gain access to Belatra’s portfolio through a single API integration, giving operators access to Belatra’s slots via the aggregator.

Misha Voinich, Head of Business Development at Belatra said: “Our integration with VeliGames through a single API opens a direct route for our slots to reach operators in Latin America, Africa and Asia. Our mathematical architecture and character-based IP are focused on long-term player retention, and VeliGames’ technology ensures stable operation of content in these markets regardless of the quality of communication.”

Revaz Janelidze, Operations Lead at VeliGames, added: “Belatra’s award-winning portfolio and proven mechanics are just the kind of dependable content our operator partners are looking for across multiple regions. Bringing the games into our ecosystem through a single API makes it simple to deliver, even on lower spec devices and slower connections.”

The post Belatra signs cooperation deal to distribute slots via VeliGames appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

GCGRA

UAE Lottery names second AED 30m Lucky Day jackpot winner in five weeks

Published

2 hours ago

July 7, 2026

Wladimir P.

uae-lottery-names-second-aed-30m-lucky-day-jackpot-winner-in-five-weeks

The UAE Lottery has confirmed its second AED 30 million Lucky Day Grand Prize winner in five weeks. The operator said Sunil Kumar Sadasivan, a 52-year-old Indian resident of Abu Dhabi, matched all seven winning numbers in the Wednesday, July 1 draw.

The company said the Wednesday Lucky Day draw has now produced two AED 30 million Grand Prize winners and one AED 5 million Second Prize winner “in a span of a few months.” Lucky Day draws run every Wednesday and Saturday at 9:30 PM.

Speaking about the win in a statement included by the operator, Sadasivan said: “When I first looked at it, I couldn’t believe it. Then I looked again and saw the full number. That’s when I realized I had won.”

The UAE Lottery said each draw offers an AED 30 million Grand Prize and an AED 5 million Second Prize, as well as three guaranteed AED 50,000 Lucky Chance prizes. Tickets cost AED 50, according to the operator.

The company said its games are regulated by the General Commercial Gaming Regulatory Authority (GCGRA) and reiterated its commitment to responsible gaming.

The post UAE Lottery names second AED 30m Lucky Day jackpot winner in five weeks appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.