Evolution reaffirms low-volume slot strategy with Nolimit City acquisition
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Evolution bought slot developer Nolimit City. The company wants to be a one-stop shop for online casino operators. Its RNG division has underperformed expectations so far. Noliimita's games with darker themes are their most popular. They focus on quality and innovation, rather than quantity of output. This is why they are unique in terms of production and imagery. It also explains why their content appeals to advanced slots players. Evolution acquired NetEnt in 2020. After that, it scrapped the existing games launch pipeline. There will be fewer new launches in the near term.
Evolution has been to the integration stage with slot developers before. Nolimit City would add just under 1% to Evolution’s global share of content. It would give Evolution access to 20 new operator sites. Noliaimitt content has good distribution with around 10% of all casino sites taking their content, but it would be a smaller acquisition.
Evolution provided brief glimpses of Nolimit City's financials. The developer expects to bring in €30m in revenue in 2022, but its earnings before interest, tax, depreciation and amortisation is expected to be around €23m. Big Time Gaming was acquired by Evolution last year. Carlesund hints Evolution will continue to buy games. He doesn't see the potential in buying a company in live casinos. He wouldn't rule out moves in the supplier's core live casino vertical.
