Evolution: moving a step closer to becoming a global igaming leader

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Evolution gaming

Evolution continues to “push forward toward our vision of being a global market leader in an online casino.”

It praises its recent additions of NetEnt and Red Tiger, as well as its pending Big Time Gaming transaction, as “one step closer to the position as a leader in online casino products.”

The €450 million BTG deal is expected to close in the second quarter of this year. Evolution CEO Martin Carlesund lauds the addition of “strong IPs and fantastic innovative talent”. He also urges the company to “continue to widen the gap to competition.”

“Supported by a combination of underlying megatrends, Evolution has continued to develop and drive the digitalization of the global casino market,” he says in the company’s most recent financial update.

Evolution’s operating revenue more than doubled from January to March 2021, reaching €235.84 million (€115.14 million in 2020). It also generated €52.2 million from RNG games and €183.7 million from live.

The company aligns its uptick in the latter to increased commission income from existing customers. And also, citing a continuous launch of new and variations on traditional games for rising demand.

Operating profit increased by 148 percent to €141.6 million (2020: €57.1 million), while EBITDA increased by 150 percent to €160.12 million (2020: €64.12 million).

The development of new games and technical platform improvements, such as new functionality, accounted for €6.2 million in intangible asset investments during the quarter (2020: €2.7 million).

Positive growth expected

“The positive trend from 2020 continues into the first quarter of 2021. We see good momentum in terms of growth and profitability,” Carlesund explained.

“I am impressed by the work of our teams, who have managed both workflows and organizational structure efficiently. And that too without losing focus on daily high-quality delivery.

“We are already seeing positive results from this work in the first quarter. I believe we are in a good position to profit from the growing interest in online casinos around the world.”

“In 2021, we’ll introduce new games to the live game show segment, as well as new innovative takes on traditional live table games,” added Carlesund. In short, we will take the entertainment factor to a new high level in 2021. We will also provide more unexpected and thrilling quality gaming experiences to all players.

 

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Nassima Azmzm

Nassima Azmzm

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