Evolution’s Q3 2021 report shows almost double revenue growth - yet again

By Gambling Insider

Evolution has released its interim report for Q3 2021, showing a 97% increase in operating revenues and 113% increased EBITDA.

The company’s profit for the period ended 30 September 2021 amounted to €157.4m ($182.5m) from €79.4m (for Q3 2020) and the earnings per share rose to €0.73 (from €0.44).

The report also covered the year-to-date January-September period: operating revenue has increased by 100% to €768.5m, from €383.5m for the same period (January-September) of 2020 and EBITDA increased by 124% to €527.7m.

The highlights of the year represented the high demand for live casino, which generated a 53% growth year-on-year, almost 8% RNG revenue growth and the opening of a new live casino studio in Michigan thanks to continued expansion in the US.

CEO Martin Carlesund commented: “The third quarter this year has been another quarter of extremely high activity within Evolution.

"The expansion of our business at the current speed is simply put – hard work – and I want to start these comments by thanking everyone in Evolution for great work during this period, without your effort and commitment the achieved financial results would not be possible.”

He added that the supplier plans to continue developing its portfolio of games by adding “successful wheel-based games such as Monopoly Live and Crazy Time” that continue to attract players.

Evolution has also recently launched Fan Tan (a twist of the traditional Asian bead game) and Cash or Crash, a game that features strategic and decision-making features. Carlesund also touched upon the recent agreement to acquire DigiWheel and plans to launch new games using in 2022.

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