Evolution Gaming Shares Third Quarter Financials

Live dealer specialists Evolution Gaming has announced their third quarter financials, showing that revenues were up a staggering 47% from last year.

Key financial indicators for the quarter ending September 30th, 2019 were:

  • Operating revenues up 47% to €94.7 million.
  • Europe generated €46.5 million in revenues, up 42% from last year
  • Asian revenues amounted to €13.9 million
  • UK revenues reached €12.7 million
  • Nordic revenues up 30% to €6.1 million
  • North American revenues up 107% to €6.1 million
  • Other regions generated €9.3 million, up 54%
  • EBITDA up 73% to €48.5 million
  • Operating expenses rose to €52.7 million
  • Operating profit of €42 million, up 81% from last year
  • Pre-tax profit of €42 million, up from €23.2 million last year

Commenting on the results Evolution CEO Martin Carlesund said, "Our investments in new games and studios are having an increasingly strong impact, which is reflected in both the high growth as well as stronger margins. We have also seen a further increased demand for Evolution's products globally.

"In addition, we now see clearly that we are reaching completely new player types, who to a large extent are playing live games for the first time. These new players are being converted from other game categories, such as slots, which is very encouraging to see.

"Our all-new studio in Malta is now operational, and we are also continuing to expand our existing studios in both Georgia and New Jersey," he said. "In Georgia, we have now doubled the capacity since the launch of the studio in April 2018. By the end of the year, we will also have doubled the capacity in New Jersey in order to add more games from our portfolio and to allow additional space for dedicated customer environments."

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