THU, 27TH APR 2017

In-Depth Analysis for the gaming industry

NEWS 20 April 2017
Evolution Gaming posts strong growth in Q1 report
By Tom Lewis
Industry provider Evolution Gaming recorded a strong start to the year in its interim Q1 report, announcing a 60% increase in operating revenue to €39.7m.

This growth was attributed largely to increased commission income from existing customers, while the company added that demand for live casino games has generally been high throughout the period.

EBITDA grew at a similar rate, climbing 65% to €17m compared a total of €10.3m in 2016.

The supplier’s profit for the period stands at €12.7m, representing year-on-year growth of 67%, while earnings per share amounted to €0.35.

Among the operational highlights for the period was an agreement for the exclusive provision of live casino services in the Mexican market with Spanish operator Codere, while new deals were also penned with Matchbook, Mybet and White Hat Gaming.

Commenting on the results, Martin Carlesund, Evolution Gaming CEO, said: “The strong momentum that we experienced towards the end of last year continued into 2017, and January and February were particularly strong, with a very high level of activity among our customers.

“Looking ahead in 2017, we see continued strong demand for our products, even if the second and third quarters tend to have less activity than the winter months.”

Evolution Gaming began the second quarter by unveiling an agreement to provide live casino services to the British Columbia Lottery Corporation, a deal that will see it construct its eighth live casino studio.

RELATED TAGS: Financial
DISCUSS THIS ARTICLE
IN-DEPTH 21 April 2017
Casino cheating laws: Is clarity being lost?
According to US and UK courts, world-renowned poker player Phil Ivey’s recent methods of winning at a casino game were on the wrong side of the law. However, the decision drastically split the judges in the UK Court of Appeal; so was this truly an open and shut case?
READ MORE
PREMIUM CONNECTIONS