Evolution Gaming Proud of its Accomplishments in 2019

According to the year-end report and the report for the fourth quarter of 2019, Evolution Gaming is seeing continued positive development in the United States. The company is also set on widening the gap to competitors throughout 2020.

The developer is experiencing continued expansion in North America, and has signed several new customers, including Flutter Entertainment, with brands Paddy Power and Betfair, Parx Casino and Penn National Gaming. The company’s reports show yet further growth in the final quarter of 2019, thanks to good leverage from investments.

In Q4, operating revenue saw a 51 per cent rise, year-on-year from €70.2m to €106m, which helped push full-year figures to €365.7m, representing a 49 per cent increase from €245.4m.

The supplier, which recently went live in Pennsylvania and New Jersey, contributes positive revenue development to increased commission income from both new and existing customers, dedicated tables and environments also contributing to the result of additional customers launching and extending their customized live casino environments.

EBITDA saw Q4 and FY increases of 77 per cent of 70 per cent to €55.8m (2018: €31.5m) and €182.9m (2018: €107.6m), respectively, with profit for the period reaching €46.8m for the final period of 2019, an 83 per cent boost from €26.7m, with its full year figure surging 79 per cent from €83.4m to €149.7m.

Another Strong Quarter

Representatives from Evolution Gaming, which was recently cleared to enter South Africa, say that they are very satisfied to have experienced another strong quarter and to summarize a successful 2019. In addition to this, they say that they’ve experienced strong results from the investments in increased studio capacity.

Martin Carlesund, CEO of Evolution Gaming, commented: “I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution. The products we launched during the year – including new titles in the game show category – in combination with a continued strong market development and global demand, have contributed to a very high growth rate.

“Furthermore, we also experienced strong results from the investments in increased studio capacity we have made in recent years. Those factors, in combination with a constant pursuit of cost efficiency, has had a positive effect on our margin.”

“Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania and the process to build a studio in Pennsylvania is ongoing.

“We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market,” concluded Carlesund.

Source:

“Year-End Report 2019”, Evolution Gaming, February 12, 2020.