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Sweden – Evolution making lightning progress as focus moves to New Jersey

Evolution Gaming said its operating revenues increased by 40 per cent to €59.3m for the second quarter of 2018 with profits of €20.1m up from €14.6m and that it now has its sights on opening a Live Dealer studio in New Jersey.

Evolution said it had several new customer agreements in New Jersey and that its studio there is being built to serve several operators and will initially offer 10 tables with Live American Roulette, Blackjack, Baccarat, Three Card Poker, Ultimate Texas Hold’em and Slingshot Auto Roulette. More games and tables will then be released gradually, including dedicated tables for specific operators. The studio in New Jersey is expected to go live in the third quarter this year.

In terms of its quarterly performance, it highlighted a ‘favourable demand for new tables’ with ‘over 500 expected to be live at year-end.’

CEO Martin Carlesund said: “The second quarter was largely characterised by the preparations for the World Cup, with many new tables in our studios, followed by a high level of activity as the tournament began. We see continued favourable demand for tables even after the World Cup, and expect to have a total of more than 500 in operation at the end of the year.

Mr. Carlesund also highlighted the importance of the regulation of the Swedish market.

“We are very proud to have signed agreements after the end of the quarter, gaining the trust to deliver Live Casino services to both Svenska Spel and ATG. We take a positive view of regulation and look forward to continuing to work with both existing and new customers in Sweden’s new gaming market. Most of our customers are licensed in a limited number of jurisdictions while operating in a global market. In line with our customers’ geographical spread, our global exposure is also increasing. Against this background we provide, in this report, a clearer picture of where our end users are located. We can affirm that the proportion outside Europe is increasing, and that regulated markets account for about one third.”

In terms of new product, he highlighted Lightning Roulette as an example of how Evolution is ‘continuously renewing the Live Casino vertical and are at the absolute forefront of development.’

“Since its launch just a few months ago, Lightning Roulette, which is unique to our platform, has become one of the most popular games in the market,” he explained. “With half of 2018 behind us, I can state that we are continuing to deliver on our ongoing mission to continuously extend the gap between us and our competitors. Evolution’s operations are becoming increasingly global, with over ten years’ experience of delivering the best Live Casino services to both pure online operators and land-based casinos in a growing number of markets. I and all of Evolution’s employees look forward to the second half of the year, in which we will continue to create fantastic Live Casino experiences, both for our customers and their end users.”