NoLimit City acquired by Evolution Gaming

Evolution Gaming has been at the forefront of providing online casino gaming for years now winning multiple awards in the period. Providing excellent services and a top-tier operator marketplace via multiple devices and channels to customers and players worldwide. This success and ability to lead has led to the acquisition of other providers in the sector like NetEnt which also owns Red Tiger and Big Time Gaming a Random Number Generator (RNG) gaming provider. The B2B market has been growing and Evolution has been making strides into the market.

NoLimit City

NoLimit City unlike other suppliers tends to provide a recognizable gaming studio that gamblers associate with and has been appealing to me, advanced slot players. Evolution Gaming is acquiring the company at a value of £340 Million with an initial £200Million and the rest is contingent on revenues during the next three years. This will make Evolution Gaming not only a giant in online casino gaming but also a one-stop-shop for casino gaming and gamblers globally.

NoLimit City has had an income of £30 Million annually and around £23 Million after-tax, depreciation, and amortization. Evolution has boasted of the profit margins NoLimit has been making similar to the previous acquisition of Big Time Gaming. Acquiring NoLimit City gets one step closer to its mission of being the number one provider of casino gaming worldwide.

Strategies and Innovations

Evolution gaming has seen an improvement in its RNG department since the acquisition of Big Time Gaming of about 19%. A like-for-like comparison with their existing department however shows they only had 1.8% thus the acquisition was a plus for them. This is due to more focus being put on providing fewer more distinctive games that offer very high standards for the player rather than the production of multiple games to increase revenue. Growth has been challenging in the production of RNG titles after the scraping of the production pipeline after the acquisition of NetEnt.

NoLimit City had the best and very recognizable studio that fits into the strategy that Evolution also applied in the acquisition of NetEnt which makes it easier to incorporate into the existing factors. With more and more innovation being put into improving the existing games production of other games will be slower and more defined to maintain the standards they are setting

Integration

The integration has been targeted to be smooth as it is a space they are well known for and are good at which was not in the case of the NetEnt and Red Tiger merger. The differences between the two would only add a few games to the existing 630 RNG games in the Evolutions portfolio and would not give much space for the addition of other operators. The market share is also smaller with NoLimit only adding 1% to Evolution Gaming’s global market share. It is a good deal however for NoLimit as the worldwide reach of Evolution gaming will open them to more markets and operator sites.

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