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NEWS 25 October 2016

Evolution Gaming Q3 Revenue rises 47%

By Dhanum Nursigadoo
Evolution Gaming (EG), the Stockholm-listed Live Casino supplier, posted its unaudited financial information for the third quarter ending September 30, 2016. Year-on-year revenue increased 47% to €29.2m. Total revenue for the first three quarters is €53.6m, up 52% year-on-year.

Earnings before interest tax depreciation and amortization (EBITDA) reached €10.8m, up 37% from the previous year. Adjusted profit for the period totalled €7.4m, up 28% from the €5.8m generated during the previous year.

EG continued its expansion across regulated markets in the third quarter. The supplier, looking to extend its land-based offering, became the first to obtain a license for Live Casino options in the Romanian market. Partnering with i-gaming firm iSoftBet, EG launched Romania’s first Live Casino studio at Grand Casino in Bucharest.

Online casino operators Tempobet, Royal Panda, Marathonbet, and Mr Green have also contracted EG’s Live Casino offering.

EG announced changes in its governance attributed to the strength of the company’s achievements, Chairman Joel Citron will resign but remains a Board member. The Chairmanship will be taken by current CEO Jens von Bahr. Mr. Bahr will, in turn, be succeeded by Martin Carlesund. Johan Nordström will take over the reins of EG’s operational unit in Malta.

EG CEO, Jens von Bahr commented: “We have experienced an exceptionally high level of demand for our services, which has put our delivery capability to the test. Time and again we have succeeded in supplying advanced and pioneering solutions, both in our own studios and to our customers. This has also paved the way for sustained growth and a leading position on the Live Casino market.”
RELATED TAGS: Online | Casino | Financial
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