Evolution Q2 Revenues Jump

Online betting behemoth Evolution has posted its second quarter 2022 financial results, noting that revenues in the period were up 34% to €344 million.

The company said that live dealer betting services generated the bulk of the company's revenues, with €278.5 million coming in during the period (up 36.7%). RNG games generated €65.5 million in revenues, up 6.1% from last year. Profit during the period were €200.9 million, up from €144.4 million. For the first half, revenues were at €398.6 million, up from €276.4 million.

The numbers come as Evolution continues to expand its presence in the North American market, going live in Ontario and continuing to expand into different states. Evolution also stated that Asia is its third-largest market in terms of revenue, with 69% growth compared to last year.

Moving forward Evolution is warning that regulatory changes in Europe could impact revenues, as more limitations are going to be impacting the amount players can spend.

Commenting on the performance Evolution CEO Martin Carlesund said, "As I have stated earlier when it comes to RNG, our ambition is double-digit growth and I find the result in Q2 as a good step towards that goal. I'm pleased with the development of our RNG business in Q2 2022."

Moving on to the upcoming regulatory changes in Europe Carlesund continued: "The development of laws and regulations relating to the supply of gaming services that Evolution provides is a central risk factor for the group's future earnings.

"Since most of Evolution's licensees are active in Europe, the legal situation in the EU is of particular interest and is continuously monitored and managed by the Group."