Evolution Gaming third quarter revenue climbs 57%

The company said that growth mainly derived from existing customers and the strategic importance of the live casino product among operators, as well as strong increase in mobile.

Revenues from dedicated tables also contributed to the increase as a result of additional customers demanding customised live casino environments.

Third quarter of 2015 (Q3 2014)

• Revenues increased by 57% to EUR 19.5 million (12.4)
• Profit for the period amounted to EUR 5.8 million (3.3)
• Earnings per share amounted to EUR 0.16 (0.09)
• Adjusted EBITDA increased by 60% to EUR 7.8 million (4.9), corresponding to a margin of 40% (39)
• The mobile penetration amounted to 28% (12)
• Events during the third quarter of 2015
• Exclusive agreement with Genting Alderney
• Evolution selected as preferred Live Casino supplier for Microgaming’s European customers
• Events following the balance sheet date
• Agreements with Gamesys, Casumo and BetConstruct

CEO Jens von Bahr's said: “The third quarter showed continued favourable growth and profitability. EBITDA amounted to EUR 7.8 million, corresponding to a margin of 40%. 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% 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% 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,” he remarked.