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Nolimit City joins Evolution with €340m worth contract
It’s been reported that Evolution signed a contract worthy of €340m to aggrandize its game portfolio at the expense of Nolimit City – Malta-based company producing online slots games.
During the following three years world’s headmost B2B provider of online gaming is anticipated to gain €140m with Nolimit City’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) and hereafter will obtain the prizewinner studio’s whole capital by paying cash stipulated in the contract of €200m with no debt condition.
The amount might be terrifying at first, but it shows that Evolution continues to stay constant to its policy – providing its purchasers with the top gaming opportunities available in the industry (such as San Quentin, Mental, etc.).
The Evolution chairman Jens von Bahr shared his excitement about Nolimit City joining the list of Evolution’s cooperators like Big Time Gaming, NetEnt and Red Tiger that have already joined the gaming group previously as thereby the company unites the most powerful game–making brands in one platform. Mr von Bahr also praised Nolimit City’s innovative changes and visions on slot games.
With EBITDA consisting of €23m, estimated predictions tell that the Malta–based brand will gain approximately €30m this year.
On behalf of the Nolimit City, its joint founder Jonas Tegman declared that the interests of two companies coincide with regard to their future visions and they will utilise their unanimous potential – staff, techniques and goods – for becoming the most sophisticated company in industry.
Fully implementation of the contract is dependent on the regulatory confirmations until the third quarter of 2022.