Evolution's Third Quarter Revenues Surge 97.1%

Casino software behemoth Evolution has released its third-quarter financial results, noting that revenues jumped 97.1% from last year to €276 million.

Key financial indicators and highlights for the quarter ending September 30th, 2021 were:

  • EBITDA up 113% to €192.9 million
  • Profit of €157.4 million
  • Earnings per share of €0.44
  • Live dealer activity growth of 53% from last year
  • RNG game revenue growth of 7.9%
  • A new live dealer studio opened in Michigan
  • RNG games launched in Connecticut with live games to go live at a future date.

"The third quarter this year has been another quarter of extremely high activity within Evolution. The expansion of our business at the current speed is simply put - hard work - and I want to start these comments by thanking everyone in Evolution for great work during this period, without your effort and commitment the achieved financial results would not be possible," said Evolution CEO Martin Carlesund.

Later in the release, Carlesund said, "As stated, our ambition is to continue to strengthen our leading position in the online casino market. One of the cornerstones which allows us to increase the gap to our competitors even further is through product innovation. In February, as things are getting back to normal, it is once again time for ICE in London. I am already now very excited about presenting our 2022 road-map."

"We are now well on our way into an exciting and very hectic last quarter and we have had strong start to the fourth quarter so far. New games to release, new studios to build, OSS to be rolled out and great new Evolutioneers to recruit at the same time as all of us already here need to focus hard on what we can do better, what we can do to make Evolution a little bit better every day."

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.
2 replies • Last post

Comments

usbarbadosslim93
Forum AngelForum Angel
barbadosslim93's picture
Location: Michigan
Joined: 28 Jan 2011
Posts: 13181
Thanks given: 774
Thanks received: 1913
28 October 2021 - 3:32pm
#1

It's interesting to see them expanding as much as they are. In Michigan, they haven't launched the gameshows yet, but I can see them coming soon and likely with a big ad blitz by casinos.

lvblck
Forum AngelForum Angel
Location: The North
Joined: 6 Apr 2016
Posts: 3449
Thanks given: 250
Thanks received: 980
2 November 2021 - 7:59pm
#2

It definitely has something to do with them purchasing other companies too, therefore limiting the competition. Those are some big performance numbers.

Post new comment

Have something to say? Agree or disagree? Tell us what you think!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.