The developer of digital slots Nolimit City has been fully acquired by Evolution Gaming as all regulatory clearances required for the purchase have been obtained.
On June 22, Evolution revealed a contract to buy the whole issued share capital of Nolimit. The acquisition comprised an initial investment of € 200 million without any debt.
Arrangement Details
Evolution may provide earn-out remunerations in cash based on the slot developer's EBITDA for the years 2022−2024. The entire amount can reach around € 340 million with earn-outs of up to € 140 million.
According to Evolution, Nolimit solutions are distinctive and give users a special, visually stimulating gaming engagement.
The developer is famous for the following products:
- Mental;
- San Quentin;
- East Coast vs West Coast, etc.
The brand has several offices around the world, namely in:
- Malta;
- Stockholm;
- Gurugram.
Leaders' Feedback
According to Jens von Bahr, a spokesperson of Evolution, their library of really avant-garde products from the leading game providers will grow with the inclusion of the developer in the family.
Evolution has been intrigued by the way the partner creators have produced an entirely new genre of slot machines, continued Mr Bahr. He is really happy that one of the top suppliers in the gambling field has decided to enter the giant net.
Nolimit City’s representative Jonas Tegman noted that he could not conceive of a finer partner. In terms of employees, solutions, technology, and approaches to completing business tasks, both companies are in sync.
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