Live dealer specialist Evolution Gaming has posted their third quarter financial results, showcasing higher revenues and profits.
Key financial indicators for the quarter ending September 30th, 2018 were:
- Revenues of €64.3 million, up 41% from the year prior
- Earnings of €28 million, up 28% from the year prior
- Profits of €21.2 million, up 27% from 2017
- Profit margin down 4% to 33%
Evolution now has nearly 500 live gaming tables across their platform, and the company has added nearly 100 tables over the past year. The company also revealed that their full time employees grew 44% to 3,970, with total employees at 5,257. The company recently launched in the United States, having begun offering products in New Jersey. The company claims that their new Atlantic City studio is the biggest achievement for the company in the prior quarter.
Commenting on Evolution's performance CEO Martin Carlesund said, "The third quarter of the year exhibited continued high demand and good growth. Revenue amounted to EUR 64.3 million, corresponding to an increase of 41 percent compared with the third quarter of 2017. EBITDA amounted to EUR 28.0 million with a margin of 43.5 percent. The margin was impacted by a faster- than-expected growth in the number of tables. We had approximately 500 tables live at the end of the quarter and we expect continued high expansion going forward. We further expect the margin to improve somewhat in the fourth quarter, while the full year number will be in the lower end of our earlier expectations."