Mobile penetration leads Evolution Gaming to 2016 profit surge

The year-on-year numbers are likewise positive and show that Evolution's operating revenue has grown by 51% to €115.5 million in 2016, while their EBITDA (earnings before interest, tax, depreciation and amortization) jumped by 44% to €44.6 million. The company also saw a year-on-year profit increase of 58.5%, amounting to a total of €31.7 million.

According to the CEO, Martin Carlesund, part of the positive performance was owed to their mobile penetration, which increased heavily in Q4 of 2016, from last year’s 28% to 46% in 2016, with over 50% of the gameplay at their largest customers being thanks to mobile devices. Another growth driver for the company was the expansion of their customer base, but also the extensions in services made by their existing customers.

In 2016 alone the company has made several moves into new markets, including setting up a Live studio at the Grand Casino Bucharest in cooperation with BetSoft, but also one at Napoleon Games offices in Belgium at the start of the year. And for this year, the company states that they will continue to focus their efforts on producing innovative products for regulated markets, including land-based solutions, but also prepare the company for transition to Nasdaq Stockholm in Q2 of 2017.

Read the report.