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September 30, 2020

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Evolution Gaming reports positive Q3 results

Evolution Gaming reports positive Q3 results
Stockholm-listed Live Casino supplier Evolution Gaming this week posted financial and operational information for the three months ended September 30, 2016.
Sweden | 10/26/2016

Stockholm-listed Live Casino supplier Evolution Gaming this week posted financial and operational information for the three months ended September 30, 2016.

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evenue for the period jumped 47% year-on-year to €29.2 million. Revenue for the nine months ended September 30 amounted to €53.6 million, up 52% year-on-year.

Adjusted EBITDA totaled €10.8 million, up 37% from the prior-year period. The figure posted corresponded to adjusted EBITDA margin of 36.8% compared to margin of 39.6% registered for the same three months of 2015.

Adjusted operating profit also increased significantly over this year’s third quarter. It amounted to €8.2 million, reflecting an increase of 30%. Adjusted operating margin stood at 28% compared to margin of 31.7% reported for the third quarter of the previous year.

Adjusted profit for the period totaled €7.4 million, up 28% from the €5.8 million generated during the prior-year period. Adjusted profit margin stood at 25.5% compared to margin of 29.2% for the three months ended September 30, 2015.

During the third quarter of the year, Evolution Gaming continued its expansion across regulated markets

The supplier became the first to obtain a license for the provision of Live Casino options in the Romanian market. Partnering with iGaming provider iSoftBet, the company launched the Eastern European country’s first Live Casino studio at Grand Casino in Bucharest.

Evolution Gaming listed the launch of Dual Play Roulette at the London-based Hippodrome Casino and Ritz Club as another important operational and expansion highlight for the quarter in review. The supplier has been looking to extend its land-based footprint and the deals with the emblematic gambling venues were regarded as landmark ones not only for its own operations but for the industry as a whole.

Gambling operator Olympic Entertainment Group also became client of the Live Casino supplier during the quarter in review. The casino company runs gambling venues across a number of European countries

Online casino operators Tempobet, Royal Panda, Marathonbet, and Mr Green have also joined the cluster of companies to have opted for Evolution Gaming’s Live Casino. Partnering with Premier League football club Manchester United, Marathonbet went live with a branded Live Roulette table.

The Live Casino supplier announced certain changes in its Board and management. Current Chairman Joel Citron will resign from his post but will remain a Board member. He will be replaced by current CEO Jens von Bahr. Mr. Bahr will, in turn, be succeeded by Martin Carlesund. Johan Nordström will take over the reins of Evolution Gaming’s Malta-based operational unit.

See the report

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