Evolution Gaming Plans to Acquire Nolimit City
Evolution Gaming has announced the acquisition of yet another leading software provider. This deal brings the Latvian company closer to the strategic goal of becoming the leading casino software provider in the industry. This time, its portfolio is to be extended with games by Nolimit City.
WHAT IS NOLIMIT CITY?
Nolimit City is one of the most popular software developers in the world of gaming that specializes in the creation of video slots. Launched in 2006, this Swedish studio has managed to create a niche in the slot development industry and offer players content that is easily recognizable and memorable. Nolimit usually chooses provocative themes with a humorous touch. Moreover, those games feature innovative mechanic and several captivating bonuses. The list of its content includes:
- Legion X, an amusing game that depicts glorious Romans who are not afraid to fight for big wins of up to 31,000x the total stake. Free spins, xNudge, and xWays features are among the bonuses that help them to get this grand prize.
- Infectious 5 xWays, a release that boasts a brand-new xWays mechanic and engages players in thrilling adventures of superheroes. The game is packed with features, and some of them are Toxic Hazard, Lock’ n Load, and Infectious Spins: Mayhem Mode.
- East Coast vs West Coast, an entertaining release that transfers players to the past and depicts the differences between the two coasts of the US. Several variants of free spins round are available here, and the maximum reward is 30,000x the stake.
ACQUISITION TERMS
The abovementioned portfolio of Nolimit City, as well as a range of upcoming games, will be provided by Evolution Gaming. Thus, Nolimit’s games will be added to a big content library with numerous in-house live casino games and diverse slots developed by Big Time Gaming, Red Tiger, and Net Entertainment among others.
Evolution is to pay EUR 200 million to purchase Nolimit City in 2022. Moreover, the present owners of the company are expected to receive earn-outs in the upcoming years. Their sum depends on the revenue that this company will generate, but they cannot exceed EUR 140 million. Earn-outs for the years 2022, 2023, and 2024 will be considered, and they are to be paid in 2023, 2024, and 2025 respectively.
The deal is expected to be completed in the Q3 of 2022.
At the same time, EveryMatrix is going to invest in a young and ambitious Jelly Entertainment.
