Interactive
Sweden – Evolution Gaming reports increase in revenue
By William - 24 October 2019
Evolution Gaming has reported a 47 per cent increase in operating revenue to €95m in the third quarter of 2019.
The interim report also showed that profit for the period amounted to €39.8m and EBITDA increased by 73 per cent to €48.5m, corresponding to a margin of 51.2 per cent.
Evolution attribute these figures during the third quarter of 2019 to their investment in games and studio capacity and the high growth of geographic markets whilst being awarded a license by the Pennsylvania Gaming Control Board will pave the way for further growth.
Martin Carlesund, CEO of Evolution Gaming, commented: “For us, 2019 has been a year of products and innovation. We have further strengthened our development capabilities and going forward, we will keep up the pace in the development of new games.
“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. Currently, we offer nine out of 21 game titles from our portfolio to operators in the state,” he added.
“During the quarter, we received an Interactive Gaming Manufacturer licence from the Pennsylvania Gaming Control Board, which is a prerequisite to be able to offer our services in Pennsylvania. Based on our experience in New Jersey, we see great opportunities to attract both online operators and land-based casinos with our offering. Planning for the studio is in full swing with launch during 2020.
“Behind the scenes, the work to develop our core games while also expanding the Live vertical with new innovations is always ongoing. When we publish the 2019 year-end report in February, ICE 2020 will have just ended. As in previous years, our ambition is to pave the way for the entire industry by launching new ground-breaking products.”
At the end of the quarter, Evolution signed an agreement with Flutter Entertainment and its brands Paddy Power and Betfair.
Mr. Carlesund added: “The absolute core of Evolution is built on innovation with a focus to meet the demand for Live and to constantly increase the gap to the competition. I have a confident view of what the future will bring.”
