Evolution completes acquisition of Nolimit City

Evolution completes acquisition of Nolimit City

Article brief provided by iGaming Business
  • Robert Fletcher, iGaming Business
August 10, 2022 11:54 PM
  • Robert Fletcher, iGaming Business

    Live dealer giant Evolution has completed its acquisition of slot developer Nolimit City in a deal worth up to €340m ($347m).

    In June, Evolution announced that it had reached an agreement to purchase Nolimit for an initial €200m, with a further €140m dependent on future performance in 2023, 2024 and 2025.

    Evolution said that the entire acquisition, including the potential future payments, will be paid in cash from existing reserves.

    Nolimit City will be the fourth brand under Evolution’s slots portfolio. In 2020, the business made its first move into the sector when it acquired NetEnt, which itself had recently acquired Red Tiger. In April last year, Evolution also acquired Big Time Gaming, the supplier best-known for the Megaways mechanic.