Evolution Acquires Nolimit City for €340m

Evolution Acquires Nolimit City for €340m

Staff Writer
June 24, 2022
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Evolution Nolimit City Acquisition

Evolution, the undisputed king of the live casino scene, has acquired Nolimit City. Nolimit City is a remarkable online casino content creator with dozens of superb video slot releases that came out in the past few years.

The news of the acquisition come months after Evolution announced the acquisition of another famous slot-making company Big Time Gaming. Read below the details of the purchase and how we expect it to reflect on the industry.

There’s a New Evolution Slot Provider on the Horizon

Following a successful acquisition of Ezugi, NetEnt (and with it, Red Tiger), and Big Time Gaming, Evolution’s latest move towards industry dominance entails the inclusion of another brand under the Evolution roof. This time, it is not a live casino company, but rather another slot maker.

Nolimit City has been praised for its unique approach to slot making, as well as itsunusual choice of topics that few providers dare to use. Nolimit City will fit in perfectly with Evolution’s vision because the company embodies everything Evolution stands for.

According to Nolimit City’s press release, Evolution will pay €200m as an upfront consideration, with €140m added subsequently as earn-outs. The company expects its revenue to amount to €30m with an EBITDA of €23m for the year 2022. Moreover, Nolimit City firmly believes the transaction will contribute positively to the 2022 EPS for the Evolution Group.

Rapid but Solid Brand Expansion

The purchase has become some sort of an on-brand move for Evolution. The company’s strategy of being the world’s number one provider of online casino games sounds like a big goal. And the only way to do so is to expand its brand! The acquisition of NetEnt, Red Tiger, and Big Time Gaming has done wonders, given the importance all three brands have in the online casino community. We are curious about how Nolimit City will contribute to the expansion of Evolution’s brand.

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