Evolution revenue up 48% for Q3

EBITDA for the period was €90.7m, an increase of 87% and corresponding to a margin of 64.8%.

Meanwhile, profit for the period was €79.4m, an increase of 100% from 2019 levels.

For the first three quarters of the year, ending September 2020, operating revenue also increased by 48% to a total of €383.5m.

EBITDA for the three quarters was €235.9m, up 86% year-on-year, while profit amounted to €204m, up 98%.

Although Evolution CEO Martin Carlesund said the company is still dealing with restrictions imposed by COVID, he described the quarter as “a period of exceptionally high activity operationally.” Q3 saw the supplier go live with its tables in Pennsylvania in the US and Kaunas in Lithuania.

The quarter also saw Evolution launch a number of games and invest in additional studio space, most recently in a studio in Lithuania.

Looking towards Q4, Carlesund expressed his excitement at the upcoming NetEnt merger. He said: “We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe.

“We will continue to work relentlessly on all fronts to continue to better every single day.”

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Owain Flanders

Journalist

Owain Flanders is a journalist who spent over a year with Gambling Insider, first joining as an Editorial Intern in August 2019 before progressing to Staff Writer from November 2019 to December 2020. During his tenure, he covered a wide range of developments across the global gambling and iGaming sectors, producing original news stories, in-depth features and analytical pieces for the Gambling Insider website and its bi-monthly magazine.

Owain interviewed CEOs, analysts and senior marketing executives on emerging trends, regulatory issues and commercial strategy, bringing authoritative insight to a professional B2B audience.

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