Live casino supplier sees 56% revenue increase

Evolution posts strong third quarter

Evolution expects to have about 400 tables in operation at all of its studios by the end of the year.
2017-10-25
Reading time 1:18 min
Evolution has published its interim report for January-September 2017.

Highlights for the third quarter include:

• Operating revenues increased by 56% to EUR 45.7 million (29.2)
• EBITDA increased by 103% to EUR 21.8 million (10.8), corresponding to a margin of 47.7% (36.8)
• Profit for the period amounted to EUR 16.8 million (7.4)
• Earnings per share amounted to EUR 0.47 (0.21)
January-September 2017 (9m 2017) 
• Operating revenues increased by 57% to EUR 127.7 million (81.1)
• EBITDA increased by 83% to EUR 58.0 million (31.7), corresponding to a margin of 45.5% (39.0)
• Profit for the period amounted to EUR 44.1 million (22.7)
• Earnings per share amounted to EUR 1.23 (0.63)
Events during the third quarter of 2017 
• Continued high growth and margin
• Investments in new studios in Georgia and Canada
• Positive development for Dream Catcher – Awarded Digital Product of the Year in October

CEO Martin Carlesund said, “Once again, I can summarize a strong quarter for Evolution Gaming, driven, among other things, by a high level of activity among our customers in the summer months. We have seen continued high growth in existing studios, as several of our customers are extending their dedicated environments. This expansion intensified during the latter part of the quarter, which meant that the cost increase was somewhat lower than expected for the full period. By the end of the year, we expect to have about 400 tables in operation at all of our studios, making Evolution Gaming Europe’s largest casino by a good margin in terms of the number of tables.

“During the quarter, a generally high level of growth was noted in all of our products. We are focusing heavily on meeting this growth, which is best expressed by the investments in our upcoming studios in Georgia and Canada. Work is continuing as planned and we expect to open the studio in Canada in early 2018, followed by Georgia during the second quarter.”

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