Evolution 2019 Revenues Surge 49%

Live dealer gaming specialist Evolution Gaming has posted their 2019 financial report, noting that revenues for the period were up 49% when compared to 2018.

Key financial indicators for the year ending December 31st, 2019 were:

  • Operating revenues up 49% to €365.8 million
  • EBITDA up 70% to €182.9 million with a margin of 50%
  • Profits of €149.7 million
  • Earnings per share before dilution of €0.83
  • Proposed dividends of €0.42 per share

During the year the company signed agreements with the likes of Paddy Power Betfair, Penn National Gaming, Flutter Entertainment, and Parx Casino. The group is eyeing expansion in the North American market, and will continue developing new titles.

Speaking about his company's performance Evolution Gaming CEO Martin Carlesund said, "I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution. The products we launched during the year - including new titles in the Game Show category - in combination with a continued strong market development and global demand, have contributed to a very high growth rate. Furthermore, we also experienced strong results from the investments in increased studio capacity we have made in recent years. Those factors, in combination with a constant pursuit of cost efficiency, has had a positive effect on our margin."

"We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market."

"To summarise, I am proud of what we have achieved in 2019, which has been an outstanding year from both a financial and operational perspective. I am very impressed with what our employees achieve every day - we are now approximately 8,000 employees working together with our eternal mission; to increase the gap to the competitors by offering the market's best solutions. 2020 has started well and I look forward to another exciting year!"

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.

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