Evolution acquires NoLimit City for 340 million euros
NoLimit City’s independence didn’t last long… Devouring everything in its path, Evolution Gaming Limited – which already owns Net Entertainment and Red Tiger Gaming, to name a few – has announced that it has acquired the developer based in Malta, Sweden and India, which stands out for its crazy slot machines that regularly go against the “politically correct”.
Evolution acquires NoLimit City, deal expected to close in September
Evolution, the iGaming product provider specializing in live dealer games, has made it official: the takeover of NoLimit City studio is now a reality and it will cost the leader in “Live” casino games a whopping 350 million euros. Indeed, the Evolution group has sent the news through an official press release and has specified that the operation should be completed by the end of Septembersubject to regulatory approvals.
Evolution also said that as part of the NoLimit City acquisition, a first transaction of 210 million euros will be completed in the coming days. This will be followed by three installments totaling EUR 140 million later this summer.
Evolution, a real heavyweight in the online casino gaming scene, has justified the acquisition of NoLimit City in two ways: firstly, the group, which is based in Stockholm, Sweden, has the audacity to want to “bring the best of both worlds” to the online casino market. To become the world’s leading provider of Internet gambling “. Secondly, Evolution’s ambition is to “… to provide its partners with the best video game content in the industry “.
The acquisition of NoLimit City, a highly strategic move for Evolution
Founded in 2013 by entrepreneurs Jonas Tegman and Emil Svard, NoLimit City has a rich portfolio of games 50+ video slots smartphone and tablet compatible among which are the hit titles Punk Toilet™, Folsom Prison™ and Karen Maneater™.
Jens Von Bahr, president of Evolution, stated in the aforementioned press release that NoLimit City is a ” a truly innovative and leading online slot producer “while mentioning the ” provocative themes and the touch of humor “which characterize the games of the studio. We must admit that the ideological orientations of NoLimit City are one of the reasons for the growing success of the firm.
After acquiring Big Time Gaming, Net Entertainment and Red Tiger Gaming, Evolution is about to strengthen its position. The merger with NoLimit City is likely to create a behemoth that will clearly be simply unbeatable in the future.
