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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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Aviatrix pairs with Cactus Gaming in latest Latin America deal
Innovative crash game Aviatrix has partnered with Cactus Gaming in an agreement that will extend its reach further into Latin America.
Aviatrix will integrate with Cactus Gaming’s online casino solutions, becoming available to the provider’s partners in Brazil and beyond.
This means more players in Latin America can enjoy the one-of-a-kind crash game with NFT-based engagement mechanics.
Gabriela Novello, Head of Business Development LATAM at Aviatrix, said: “We’re looking forward to this partnership with Cactus Gaming blooming for both sides. We’re impressed by their reach across Latin America, particularly in Brazil, where they are well placed to help us bring Aviatrix to new audiences.”
Tiago Carneiro, CRA at Cactus Gaming, added: “Cactus Gaming has as one of its main differentials the conversion power of the platform, which turns users into loyal players. The partnership with Aviatrix will further enhance this. The game is one of the most exciting we’ve seen in recent times, and we’re thrilled to offer it to our partners.”
The collaboration between Aviatrix and Cactus Gaming is set to further raise the bar for online casino in Latin America, with both sides committed to delivering the very best user experience to players.
Aviatrix has been rapidly expanding in Latin America over the past few months, signing deals with some of the biggest aggregators and operators in the region.
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New Game Release by Zillion Games – Wolf’s Moon
Embrace the wild wolf’s spirit and follow the moon’s glow into the forest!
Explore the world of the mysterious forest with the Wolf’s Moon slot! Exciting Mystery symbols, powerful Boost symbols, and the thrilling Hold & Win feature await you here.
About Game
Wolf’s Moon slot has a captivating design that offers an enchanting gaming experience due to its complex mechanics. The game is meticulously structured around a 5-reel grid, featuring 25 distinct paylines, which provides multiple opportunities to the player to secure his winnings. Step in to the adventure with Wolf’s Moon and let yourself transported to a nocturnal world where the forest spirits join your hunt under the glow of the full moon.
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Scientific Games Off to Epic Start With Launch of First GAME OF THRONES Lottery Scratch-off Game in the U.S.
Colorado Lottery Winners Will Be Lucky Participants in THE SEVEN KINGDOMS EXPERIENCE Set to Take Place in Napa.
Scientific Games’ newest multi-state branded GAME OF THRONES Linked Games, developed in partnership with Warner Bros. Discovery Global Themed Entertainment, has kicked off successfully with GAME OF THRONES branded instant scratch, Fast Play and iLottery games offering players the chance to win prizes instantly, plus an opportunity to win an experiential prize package, THE SEVEN KINGDOMS EXPERIENCE.
Inspired by one of the most-watched HBO television series of all time and set to captivate the GAME OF THRONES fandom, THE SEVEN KINGDOMS EXPERIENCE event will take place in a medieval-style castle winery in Napa Valley, California in 2025. Trip winners will be divided into seven “Houses”, such as House Targaryen, House Stark and House Lannister.
The event will include multiple rounds of brand-immersive games, giving trip winners a second chance to win their share of up to $7 million. The trip winners will get to cheer on their own “Champion” in a live jousting tournament, and one “Ruler” will be chosen from each house to play for prize money split amongst every member of the house.
The Colorado Lottery is the first U.S. lottery to launch a GAME OF THRONES-themed lottery Linked Game to give players in the state an opportunity to win the once-in-a-lifetime experience. The game achieved the highest first-week index of any of the Lottery’s $10 games launched in fiscal year 2024. It continues to lead, with four-week sales surpassing all other Colorado Lottery $10 games in fiscal year 2024 and most games in other price points, placing third behind a $20 and $50 game. THE SEVEN KINGDOMS EXPERIENCE has limited availability remaining for North American lottery participation, with most of the current trip winner spots filled.
Tom Seaver, Director of the Colorado Lottery, said, “Our players are very excited to play the GAME OF THRONES scratch game. It’s been a great addition to our game lineup, and as the sales numbers show, it is performing really well for us.”
According to Scientific Games research, the GAME OF THRONES brand resonates especially well with younger adult players.
Tina Hoover, V.P. of Licensing for Scientific Games, said, “Our teams are continually innovating to make every lottery winners’ event unique and exciting. We worked with Warner Bros. Discovery Global Themed Entertainment to create an immersive GAME OF THRONES-themed winners experience and to deliver a top-notch winners’ event that we’ve refined over the past 17 years doing prize trips for more than 5,000 lottery players. Based on the response we have received and participation so far for THE SEVEN KINGDOMS EXPERIENCE, we are looking into a potential second trip opportunity.”
Scientific Games pioneered the lottery Linked Games concept in 2007 and games produced by the company offering the opportunity to win experiential prizes themed to brands like DEAL OR NO DEAL, MONOPOLY, THE PRICE IS RIGHT and WILLY WONKA represent more than USD$4.6 billion in retail sales to date.
With a portfolio representing more than 100 licensed brands, Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries worldwide.
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