Founded during 2006, the prestigious live dealer gaming software Evolution has gradually become a giant in the online casino industry.
So, it has been making one purchase after another for a few years now. Last June, for example, it announced that it had signed an agreement to purchase the talented slot machine publisher Nolimit City.
This famous acquisition has just been finalized.
A purchase that could reach 340 million euros
It happened at the end of June 2022. The Evolution Group announced that it had just reached an agreement to purchase Nolimit City.
The acquisition is expected to cost it an initial €200 million with an additional €140 million dependent on the slot publisher’s future performance in 2023, 2024 and 2025.
All of the money paid in this purchase, including potential future payments, will come from Evolution’s existing reserves and will be paid in cash.
The group expects Nolimit City to generate revenues of €30 million and EBITDA of €23 million during 2022.
>>> Read also: “Evolution buys Nolimit City for €340 million”
Other brands of the Evolution group
Now that its purchase has been completed, Nolimit City now stands out as the fourth slot machine brand of the Evolution group. The latter entered this market sector in the year 2020 by acquiring Netent, which already owned Red Tiger.
Then, in April 2021, it acquired Big Time Gaming (or BTG), which is well known for having invented the Megaways mechanic that allows you to enjoy thousands of ways to win.
In the Evolution Group’s basket, we also find the live gaming software Ezugi purchased in 2018. Finally, we should also mention the wheel of fortune maker DigiWheel acquired in 2021.
Two prestigious players in the online casino games sector
It was during the year 2013 that the Nolimit City software was created by a team of professionals with more than 10 years of experience at some of the major players in the online casino industry. With locations in Sliema on the island of Malta, Stockholm in Sweden and Gurugram in India, it specializes solely in slot machines.
Within its game library, there are quite a few big hits that are very popular with players on the web. Among them are Folsom Prison, True Grit Redemption and East Coast vs West Coast.
Evolution software offers mainly live dealer games. Its game library includes tables dedicated to most of the great casino classics such as roulette, blackjack, baccarat, poker and craps for example.
There are even some Asian games including Fan Tan, Dragon Tiger and Teen Patti among others. Internet users also love its Show TV range, which includes must-have hits such as Crazy Time Wheel of Fortune and Cash or Crash Lottery.