Evolution Grows in Q3 Due to "Exceptionally High" Activity Levels

Live dealer software group Evolution has posted its third-quarter 2020 financial results, noting large surges in revenues and earnings during the period.

Key financial indicators for the quarter ending September 30th, 2020 were:

  • Total operating revenue of €140.2 million, up 47.8% from the same time last year
  • Asian revenues up 150.4% to €34.8 million
  • Nordic revenues down 4.9% to €5.8 million
  • UK revenues down 25.8% to €9.5 million
  • European revenues up 41.1% to €65.6 million
  • North American revenues up 50.8% to €9.2 million
  • Other market revenues of €15.1 million, up 62.4%
  • Operating expenses grew 7% to €56.4 million
  • Personnel expenses down 6.5% to €31.5 million
  • Other operating costs up 41.3% to €17.8 million
  • Pre-tax profit up 99.3% to €83.5 million
  • Taxes paid of €4.2 million
  • EBITDA of €90.4 million, up 86.4%

Evolution is also currently in the process of trying to acquire Swedish betting group NetEnt, and company CEO Martin Carlesund sounded optimistic about closing the deal before the end of the year. "We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe," he noted.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

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