Evolution to Purchase Nolimit City

Online gaming conglomerate Evolution has announced that they've come to an agreement to purchase game developer Nolimit City for up to €340 million.

The agreement will see Evolution pay €200 million in cash up front, with the following €140 million being paid based on performance between 2023 and 2025. Evolution is paying this out of cash reserves and won't be financing the deal through outside sources. This agreement will help Evolution continue to expand as an online powerhouse, as the company already owns fellow developers NetEnt, Ezugi, Red Tiger Gaming, and Big Time Gaming.

In a statement, Evolution Chairman Jens von Bahr said, "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 [Tegman], Emil [Svärd] 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."

Nolimit City Co-Founder Jonas Tegman added: "I cannot think of a better match between two companies than 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."

It is expected that this deal will be completed sometime in the third quarter of this year. It is subject to regulatory approvals in the various countries in which both Evolution and Nolimit City operate.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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usbarbadosslim93
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22 June 2022 - 3:36pm
#1

Another big purchase by Evolution. They're for sure looking to become a dominant player in the industry. Perhaps a titan.

lvblck
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23 June 2022 - 10:46am
#2

I have to say I wasn't really expecting this one. Purely due to the reason that Nolimit City is a very specific provider, not necessarily a "safe or classy" one due to their different/risky game themes and extreme volatility games. But I'm curious to see what it will mean to Nolimit City to be underneath the Evolution wing.

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