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by Ralph Trayfalgar Updated:
As part of its ongoing efforts to increase its footprint in the slots industry, live casino giant Evolution Gaming agreed to purchase developer Nolimit City for up to C$465 million.
Evolution's portfolio of slot developers now grow to 4 with the acquisition of Nolimit City. This is the latest step in Evolution's foray into this vertical, which began in 2020 with the landmark purchase of slot game developer NetEnt, who itself owned Red Tiger Gaming.
2021 would then see Evolution buy out Big Time Gaming, the slot developer best known for developing and popularizing the Megaways game engine.
In an accompanying statement, the board of Evolution states: “The acquisition is in line with Evolution’s strategy of being the world’s number one provider of online casino games, supplying its customers with the best gaming content."
The chairman of Evolution, Jens von Bahr, expressed his admiration for the amount of creativity that Nolimit City has introduced into the market.
"With the addition of Nolimit City to the Evolution family we extend our portfolio of truly innovative and cutting edge games from the top brands and game makers in the industry," von Bahr states.
"We have followed Jonas [Tegman], Emil [Svärd], and their team for a few years and been impressed as they have established a completely new style of slot games. I am proud that yet another of the very best minds in our industry has chosen to join the Evolution network."
"I cannot think of a better match between two companies than between Nolimit City and Evolution, we are fully aligned in terms of people, product, technology and how to get the job done," added Jonas Tegman, co-founder of Nolimit City.
"The slot vertical is under massive change, and we can’t wait to take on the challenge of global expansion together with Evolution, helping out with navigating towards the best slot product offering in the market."
The purchase of Nolimit City will be finalised after completing the necessary permits from the relevant authorities, which is expected to be completed in Q3 2022.