Acquisition of Nolimit City by Evolution finalized for €340 million
In a significant move to bolster its position in the iGaming market, Evolution Gaming has announced the acquisition of Nolimit City for a staggering €340 million. The deal, which is subject to legal and regulatory approvals, is part of Evolution Gaming's strategy to become the top provider in the industry.
The acquisition cost will be split into an initial payout of €200 million and additional €140 million in future earn-outs. This substantial investment is a testament to Nolimit City's impressive growth and potential.
Nolimit City, known for its innovative and popular slot games, has seen a remarkable increase in its revenue. The company's last quarter revenue stood at almost €257 million, which has surged to an estimated €344 million. This growth is likely due to the announcement of the acquisition agreement.
Martin Carlesund, the chief executive of Nolimit City, expressed his delight at being welcomed to the Evolution family. He expressed optimism about the upcoming months of the year, reflecting the positive outlook of the combined companies.
Evolution Gaming, which has made a number of high profile acquisitions, including the purchase of NetEnt in 2020, is no stranger to large-scale investments. The company's strategic acquisitions aim to strengthen its position in the competitive iGaming market.
The acquisition of Nolimit City is expected to further enhance Evolution Gaming's portfolio, offering players an even wider variety of engaging and immersive gaming experiences. With this acquisition, both companies are poised to redefine the iGaming landscape.
