Sweden – Evolution records 57 per cent revenue increaseBy Phil - 26 October 2015
The growing importance of live dealer for online gaming has seen Evolution Gaming post revenue of €19.5m for the third quarter of 2015, representing an increase of 57 per cent.
Mobile penetration amounted to 28 per cent up from 12 per cent last year. The quarter saw Evolution sign an exclusive agreement with Genting Alderney. It was also selected as preferred Live Casino supplier for Microgaming’s European customers and signed agreements with Gamesys, Casumo and BetConstruct.
CEO Jens von Bahr’s said: “The third quarter showed continued favourable growth and profitability. EBITDA amounted to €7.8m, corresponding to a margin of 40 per cent. As previously, growth mainly derives from existing customers, driven by the increasing strategic importance of the Live product among operators, as well as a strong increase in mobile gaming. Last year saw a break in the trend regarding seasonal variations, with reduced activity in the summer – this was confirmed this year and it is clear that mobile is the main driving force. During the quarter, 28 per cent of the operators’ gaming revenues were generated via the Evolution platform for mobile units, and the absolute increase in mobile revenues was more than 260 per cent compared to the corresponding quarter in 2014.”
“During the quarter, costs rose somewhat more than previously, partly due to a higher recruitment rate and the fact that we have employed a number of highly qualified individuals within the company’s strategic focus areas. When recruiting, we always keep a return perspective and I have high expectations of these individuals’ future contribution to the business. To date, 2015 has been a very successful year for Evolution and for the Live Casino market in general. We continue to work in accordance with our growth strategy, with a focus on delivering long-term shareholder value and with a perpetual mission to increase our lead on our competitors,” Mr. von Bahr added.