Live dealer giant Evolution has agreed to acquire slot developer Nolimit City, as it continues to expand its presence in the slots sector, for up to €340m [US$359m].

Evolution will pay an initial consideration of €200m, with a further €140m dependent on future performance in 2023, 2024 and 2025. All of this total will be paid in cash, paid from existing reserves.

Nolimit City will be the fourth brand under Evolution’s slots portfolio. In 2020, the business took its first step into the sector when it acquired NetEnt, which itself owns Red Tiger. Last year, Evolution then acquired Big Time Gaming, the supplier best-known for the Megaways mechanic.