Evolution Gaming Reports Increase of Profit in Q3

Leading provider of video-streamed live casino solutions, Evolution Gaming, has published its interim report covering a period between January to September 2019.

The company is satisfied with its profit rise and the expansion of studios, leading to an annual increase during the third quarter of the year.

Aside from the investments in new products, it has also reported high growth in all geographic markets, including the receipt of Pennsylvania Gaming Control Board license.

Altogether, the company’s operating revenue in Q3 reached $105.6 million or 47 per cent surge compared to the same period last year.

The report also reads that Evolution Gaming noticed a rise in demand for its live casino products, which caused an additional boost of its revenue growth from both the existing customers and new players.

Dedicated tables have also pushed the income in Q3, as more operators and brands started launching the aggregator’s customized live dealer services.

Growth in All Markets

Although Europe remains the supplier’s core sector in of revenue, a steady growth in other markets has also been realized, primarily Asia and North America.

In the third quarter, the gambling company has earned €46.5 million of total operating revenue in Europe, while Asia and UK represent the second highest revenues, amounting €13.9 million and €12.7 million respectively.

Also, the industry’s biggest hot spots, Nordics and North America, skyrocketed in the previous three months, earning a record €6.1 million with a 30 per cent year-on-year rise up to €9.3 million or 107 per cent growth.

Martin Carlesund, chief executive comments

“Our investments in new games and studios are having an increasingly strong impact, which is reflected in both the high growth as well as stronger margins. We have also seen a further increased demand for Evolution’s products globally.”

“In addition, we now see clearly that we are reaching completely new player types, who to a large extent are playing live games for the first time. These new players are being converted from other game categories, such as slots, which is very encouraging to see.”

A Year of Products and Innovation

In the course of 2019, Evolution has revealed double-digit income rise, new products, distribution deals with Scientific Games and other leading brands from the industry.

The company continues to develop its core gaming products and expand the live sector by implementing new technologies and innovation. Carlesund also stated that the group’s mission to meet the demand of live casino environments will continue in the future, primarily thanks to its increased studio capacities across the United States.

“Our all-new studio in Malta is now operational, and we are also continuing to expand our existing studios in both Georgia and New Jersey.

In Georgia, we have now doubled the capacity since the launch of the studio in April 2018. By the end of the year, we will also have doubled the capacity in New Jersey in order to add more games from our portfolio and to allow additional space for dedicated customer environments.”

As an encore, at the EGR Italy Rewards 2019, held at the Rome Cavalieri in Rome on October 3rd, Evolution has been crowned Casino Content Supplier of the Year.

Source:

“Interim Report for January-September 2019”, evolutiongaming.com, October 24, 2019.