Evolution Eyes Continued Positive Developement

Evolution Gaming is seeing continued positive development in the U.S., as the company also plans to pursue an “eternal ambition” to widen the gap to rivals across 2020.

Lauding continued expansion in North America, signing many new customers, including Flutter Entertainment with Paddy Power and Betfair brands, Parx Casino and Penn National Gaming, as well as good investment flexibility, the company is announcing more growth for the final quarter and full year 2019.

Operating revenue for Q4 saw a 51% year-on-year leap from € 70.2 million to € 106 million which helped push the full-year figures to € 365.7 million, reflecting a 49% rise from € 245.4 million.

The organisation aligns the successful revenue growth with increased commission income from both new and existing customers, dedicated tables and experiences often leading to the introduction or extension of additional customers ‘ personalised live casino environments.

The EBITDA saw rises of Q4 and FY of 77% to € 55.8 million (2018: € 31.5 million) and € 182.9 million (2018: € 107.6 million), respectively, with income for the period hitting € 46.8 million for the final period of 2019, up 83% from € 26.7 million, with the full year figure increasing 79% from € 83.4 million to € 149.7 million, respectively.

Martin Carlesund, CEO of Evolution Gaming, commented: “I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution. The products we launched during the year – including new titles in the game show category – in combination with a continued strong market development and global demand, have contributed to a very high growth rate.

“Furthermore, we also experienced strong results from the investments in increased studio capacity we have made in recent years. Those factors, in combination with a constant pursuit of cost efficiency, has had a positive effect on our margin.”

He added: “Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania and the process to build a studio in Pennsylvania is ongoing.

“We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market.”

Addressing numerous business growth elements, Evolution concentrated on a rapidly growing European live casino industry, reaffirming a previous goal to grow faster than the entire sector of continents.

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.