Published
OnlineLand-BasedFinancial

Evolution reports 100% year-on-year increase in Q2 revenue

Evolution has reported operating revenues of €256.7m ($301.8m) for the second quarter of 2021, a 100% increase from the prior-year period.

evol q1h1

EBITDA increased by 115% to €174.7m, with profit for the period amounting to €144.4m, up from €70.4m.

Evolution highlighted the continued high demand for live casino among its main events of Q2 2021, with the vertical growing 59% year-on-year. The company also announced the acquisition of Big Time Gaming, which closed on 30 June, with Evolution’s new Michigan studio approved after the end of the period.

“We have high demand on expansion and we will continue to invest both in existing studios as well as new studios both in North America as well as in Europe,” said Evolution CEO Martin Carlesund. “During 2021 we will add two new delivery hubs in Europe.

“Coming into 2022 we see expansion and investment in studios continuing in current locations but also in new markets like Latin America. Still, the pandemic continues to impact our expansion plans and we continue to follow guidelines set by the countries where we are active. The overall situation is improving but it is still very hard and the pandemic is not over.”

Evolution also reported financial results for H1 2021, with operating revenues growing by 102% year-on-year to €492.5m. EBITDA increased by 130% to €334.8m, while profit for the period rose from €124.6m to €276.4m.

“It is a very active time within the company right now,” added Carlesund. “I very much look forward to the second half of the year, and to continue to widen the gap to competitors.”

Premium+ Connections
 
Premium

Digitain

 
Premium

Galaxsys

 
Premium

Revsharks

 
Premium

Imagine Live

 
Premium

PIN-UP Partners

 
Premium

RISK

 
Premium

GammaStack

 
Premium

Lynon

 
Premium

Sport Generate

 
Premium

1xBet Partners

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...