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Sweden – Evolution ramps up expansion prior to new product roll-outs

By - 18 February 2018

Live dealer pioneers Evolution Gaming almost doubled its profit during an ‘exceptional year’ where ‘intense’ expansion saw revenue increase by 54 per cent to €178.4m.

But rather than rest of its laurels and its revenue growth for another year, the Swedish table games experts has an extensive, planned roll-out of new product looking to widen the gap between its competitors further in 2018.

The year ended in much the same fashion as it had begun with revenues for the three months ending December 31, 2017, up 48 per cent from the same period one year earlier.

The positive revenue development mainly derives from increased commission income from existing customers and, to a certain extent, from new customers. Demand for Live Casino games was generally high over the quarter and the number of bet spots from end users amounted to 2.8bn up from 1.7bn a year earlier. Revenues from dedicated tables and environments also contributed to the increase as a result of additional customers launching or extending their customised Live Casino environments.

Martin Carlesund President and CEO said: “The quarter was characterised by intense expansion at our studios, resulting in increased cost levels compared with the third quarter. The company is in the midst of an investment phase, and we expect this to continue to drive costs during the first half of 2018. In addition to the intense expansion at our existing studios, where we now have approximately 400 tables in operation, we increased our efforts further in product innovation and development in the latter part of the year. We will see the results of this in 2018, when more games than ever before will be launched. The new games are an important element to further increase the gap to our competitors, and will be launched at different times of the year. Already in January, we rolled out the world’s first and only Live Casino version of the popular poker game Texas Hold’em Bonus and, in early February, we expanded our exclusive content rights partnership with Scientific Games.”

The company launched Lightning Roulette, a ground-breaking Roulette game that combines Live Casino with an RNG element at this year’s ICE. Players will have new possibilities to win through random-generated lucky numbers offering high pay-outs.

Todd Haushalter, Evolution’s Chief Product Officer, said: “This is the most complex product we have ever done, but all that complexity is hidden from the players, who only see that each round, between one and five numbers are struck by lightning and given magnified pay outs of 50x – 500x. To do this we combined digital random number generators with the Live Roulette wheel, which has never been done before. The studio itself is also incredibly advanced.”

Mr. Carlesund added: “The game environment is reminiscent of an entertainment show with advanced sound and lighting effects; a concept that adds a new dimension of excitement to the traditional table game and which we have already successfully established through our Dream Catcher product. We also believe that our extensive expertise in table games can be used in a purer RNG environment, which is why we are taking a first step in that direction through the launch of a brand-new game category – First Person Gaming. The products offer players an interactive first-person experience of the most popular table games, and also include a “Go Live” button that quickly takes the player to our Live Lobby and the complete range of Live Casino games. This set-up gives the operators excellent cross-selling opportunities.”

For Evolution’s operators’ super VIP players, it is launching a brand new, exclusive Salon Privé, with high limits and private tables for individual players. Created at the company’s primary studio in Riga, Evolution’s all-new Salon Privé is set to be the most luxurious way to play table games online.

Mr. Haushalter explained: “This has never been done before because it is so difficult to achieve operationally. We are offering players unprecedented levels of control over the game at totally private, single-player Roulette and Blackjack tables. From choosing their favourite dealer, to changing the cards to being in charge of the game speed, the players can control all of this and more. Our mission with the Salon Privé is to provide the sort of ‘white glove’ service that is offered in the private gaming salons of Las Vegas.”

Only selected individuals are given access to the environment, where they can expect personal service and opportunities to control the game round themselves. Evolution is also strengthening its Baccarat portfolio with two new variants, No Commission Baccarat and Dragon Tiger.

“Baccarat is gaining popularity and, with these additions, we will attract both experienced and new players,” Mr. Carlesund explained. “In addition to product development, we are continuing to invest for the future in the form of new studios. In early February, we went live with our new studio in Canada, while the construction of the studio in Georgia is continuing, with a planned launch in the second quarter.”

Mr. Haushalter added: “We worked really hard to deliver all these new products at ICE and adding these to our current portfolio, which includes Dual Play Roulette and Baccarat, 15 different spoken language Roulette games, Dream Catcher, hundreds of Blackjack games, and our exclusive and proprietary Poker games including the latest addition of Live Texas Hold’em Bonus, I think we have a market leading offering for both players and operators.”

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