Evolution Gaming Unveils Interim Report for January-September 2020

Provider of casino software and excellent content, Evolution Gaming, has just presented its interim report for January-September 2020. The company is proud of its achievements and looks to continue in the same direction.

Third Quarter Milestones (Q3 2020)

Evolution has made several moves in becoming more recognized in the sector. Just in the third quarter of the year, it recorded:

• Increase in operating revenues by 48% to EUR 140.0m
• Increase in EBITDA by 87% to EUR 90.7 million along with a margin of 64.8%
• Profit during the same period of EUR 79.4 million
• Earnings per share in the amount of EUR 0.44

If we look at the nine months from January to September, we can also observe the following trends:

• Increase in operating revenues by 48% to EUR 383.5 million
• Increase in EBITDA by 86% to EUR 235.9 million together with a margin of 61.5%
• Profit for the same timeframe in the amount of EUR 204.0 million
• Earnings per share of EUR 1.12

Impressions from the Company

Speaking on the latest milestone, CEO at Evolution, Martin Carlesund noted:

“I’m happy to report strong results for the quarter. Revenue amounted to EUR 140 million, an increase of 48 percent compared with the third quarter of 2019. EBITDA amounted to EUR 91 million with a margin of 64.8 percent. The past quarter has also been a period of exceptionally high activity operationally within Evolution and after the end of the quarter we are, live with our first tables in both Pennsylvania, USA, and Kaunas, Lithuania. We are still dealing with the limitations imposed by Covid but we are slowly coming back towards pre-Covid levels in a number of tables.”

Martin has also pointed to Crazy Time – one of the most successful live games, released on the 1st of July. The game has made significant success in the market thanks to its format and opportunity for big winnings. It has been followed by the introduction of Instant roulette.

Meanwhile, the brand will target the German market in the following period, expecting to receive licenses from 2021. It will include certifications for online slots and a live casino program. The brand is also available in North America, Pennsylvania, where it signed several important arrangements.

Evolution is also working on the expansion of the studio capacity. It has recently opened the small studio in Lithuania, after rolling out the additional space in Tbilisi, New Jersey, Malta, and Michigan.

Source:

“Intertim Report for January - September 2020”, evolution.com, October 22, 2020.