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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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Fiona Hickey
Hub88 Enters into Partnership with Games Inc
Hub88 has further strengthened its aggregation platform through a partnership with Games Inc, delivering the studio’s portfolio, shaped by more than a decade of close collaboration with operators, to its global network.
The deal introduces Games Inc’s range of more than 70 tried and tested titles to Hub88’s partners, including slots and table games, granting access to premium content developed with a focus on performance, engagement and player-first design.
Founded in 2012, Games Inc began as a bespoke slot developer for some of the world’s biggest operators, before transitioning into a fully independent global content provider.
For Hub88’s partners, Games Inc’s rich knowledge translates into a line-up designed with entertainment and high performance in mind. Each release seamlessly combines engaging mechanics, balanced maths, captivating graphics and immersive audiovisual effects for the ultimate experience.
The agreement further strengthens Hub88’s reputation for choosing partners with intriguing content and robust technology that drives success.
Ollie Castleman, Managing Director at Hub88, said: “Games Inc brings a level of experience and deep operator understanding that really stands out to us. They have spent years building custom games meticulously, and this is reflected in how their portfolio performs. Their content is shaped by real-world insight and data, and this will only bring further benefits to our operator network.”
Fiona Hickey, Managing Director at Games Inc, said: “Hub88 is a key partner for us, with their values, way of working and enduring reputation unlocking access to more brands worldwide. Their platform is technically excellent and significantly boosts our reach. We are confident that our style and creative approach will resonate with their partners across multiple global markets.”
The post Hub88 Enters into Partnership with Games Inc appeared first on Americas iGaming & Sports Betting News.
Brazil
The IBJR stresses that combating the illegal market is crucial for Desenrola 2.0
The Brazilian Institute for Responsible Gaming (IBJR) warns that the effectiveness of financial protection measures in Desenrola 2.0 fundamentally depends on a rigorous fight against the illegal betting market.
It is also worth emphasizing that in 2025, bets placed on licensed platforms accounted for the equivalent of only 0.46% of household consumption in the country, an extremely small share within the Brazilian budget, according to data from a study by LCA Consultoria.
This reinforces that the main factor of indebtedness in the Brazilian budget continues to be the high cost of credit.
The entity also emphasizes that restrictions on access to the regulated sector may encourage users to migrate to clandestine platforms, which already move around R$ 40 billion per year and operate without any oversight or consumer protection mechanisms.
Combating the illegal market is the most urgent step to prevent unlicensed operators—often associated with organized crime—from exploiting periods of restriction to attract vulnerable audiences.
This concern is heightened by the proximity of the World Cup, a period of natural increase in the volume of sports betting, and by the potential loss of R$ 10.8 billion in revenue for the country if consumption shifts to the underground market.
The IBJR reinforces that the real protection of citizens and the integrity of Desenrola 2.0 depend on coordinated action between the government and the private sector.
The organization advocates for public policies that combine financial education, strengthening responsible gambling, and a strategic offensive against clandestine websites, ensuring that entertainment occurs exclusively within a safe, transparent, and properly monitored ecosystem.
The post The IBJR stresses that combating the illegal market is crucial for Desenrola 2.0 appeared first on Americas iGaming & Sports Betting News.
ALT Sports Data
ALT Sports Data Announces a New Partnership with Caesars Entertainment
ALT Sports Data, a global leader in engagement solutions and official data for emerging sports, has announced a new partnership with Caesars Entertainment. The partnership powers a new, next-generation Formula 1 betting product for Caesars’ sports betting platforms, delivering one of the most advanced wagering experiences ever offered on motorsports across Caesars Sportsbook and William Hill digital and retail platforms.
Caesars Sportsbook and William Hill will leverage ALT Sports Data’s proprietary Formula 1 models, pricing, and real-time data infrastructure to offer a comprehensive and differentiated suite of betting markets. Built on sub-second latency data and hundreds of inputs per car, the platform enables dynamic pricing and continuous market recalibration throughout Formula 1 race weekends.
The product introduces a new category of Formula 1 betting, combining pre-race, in-race, and micro-market opportunities into a single, integrated experience. This includes live race micro markets, predictive driver performance modeling, and large-scale race simulations that generate thousands of possible race outcomes per event, allowing for deeper and more accurate pricing across every lap.
“Formula 1 is one of the most complex and data-rich environments in global sport, and that complexity creates an opportunity to completely redefine the betting experience. Our platform is designed to unlock that potential at scale, and partnering with Caesars allows us to bring a truly differentiated, always-on product to market that reflects the speed, strategy, and unpredictability of Formula 1,” said Joe Dunnigan, CEO and Founder of ALT Sports Data.
“Formula 1 continues to captivate fans with its intensity, strategy, and constant innovation. By integrating ALT Sports Data’s advanced modeling and real-time official data, we’re able to elevate our Formula 1 offering and give customers a more dynamic way to experience every moment of the race weekend,” said Eric Hession, President of Caesars Digital.
In addition to core markets such as race winner and podium finishes, Caesars and William Hill will offer an expanded set of in-play and micro markets, including lap-by-lap driver matchups, fastest segment performance, pit stop outcomes, overtakes, and position-based milestones. These markets are designed to evolve in real time, enabling a true race-within-a-race experience for bettors.
As the Official and Exclusive Betting Data Supplier of Formula 1, ALT Sports Data is building the foundational infrastructure to support the sport’s growing focus on regulated sports betting and fan engagement. With Formula 1 increasing its investment in official betting partnerships and data-driven engagement, the expansion of sophisticated betting products represents a key strategic initiative for the league and its global ecosystem.
The agreement further establishes ALT Sports Data as a key infrastructure partner for sportsbooks and leagues seeking to unlock the next phase of growth in global sports betting through official data, advanced modeling, and real-time fan engagement.
The post ALT Sports Data Announces a New Partnership with Caesars Entertainment appeared first on Americas iGaming & Sports Betting News.
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