Live dealer software developer Evolution Gaming has posted its first quarter 2016 financial results, noting a 59% increase in revenue compared to the same period last year.
Key financial indicators for the first quarter ending March 31st, 2016 were:
- Revenues of €24.8 million for the quarter, up 59% from the same period last year.
- Profits of €7.6 million, up from €1.4 million from the same period last year.
- Earnings per share of €0.21, up from €0.04 during the same period last year.
- EBITDA up 67% to €10.3 million
Commenting on his company's performance Evolution Gaming CEO Jens von Bahr said, The strong growth of 2015 has continued into 2016 and, in the first quarter, Evolution's revenues rose by 59% compared with the same quarter last year. EBITDA amounted to €10.3 million, corresponding to a margin of 42%, and mobile growth also continued, with mobile penetration amounting to 34% for the quarter. On the whole, I view the continued development of both the market and Evolution with the same confidence as previously."
"Although live casino remains a small part of the total online gaming market, with its social interaction and customizable content, it has what it takes to continuing growing at a high pace over the coming years. At the same time, we will continue working according to our clear strategy to support both existing customers to develop their live offerings, while also benefitting from future growth areas such as land-based casinos."