Evolutioin Gaming aims further growth in 2019
Evolution Gaming has had another exceptional year and the company predicts the success will continue throughout 2019 as well.
They believe live casino will continue to expand and experience extensive growth in the future as the US expansion is inevitable and just around the corner.
Focusing on North America
Having finalized the Ezugi acquisition in January as a part of the North America expansion strategy, evolution also plans to open another studio in Malta to meet the constantly-growing market demands.
“We continue to grow in North America. During the fourth quarter, we went live with several new customers in the US, and just after year-end we also signed an agreement with a second customer in Canada,” CEO Martin Carlesund, commented on world markets.
“To further strengthen our position, we have also carried out Evolution’s first-ever acquisition. With the business of Ezugi, we further extend our footprint especially in the US, while also gaining more studio capacity and resources within product development.”
Grow Faster, Grow Better
Evolution plans to release more games to North American market taking the successful Q4 launch of Live Infinite Blackjack in Europe as a perfect example.
Nordic market showed favorable growth in the last quarter of 2018 while the UK market had weak performance due to the newest regulatory changes. Expectations for the Swedish re-opened market are huge for 2019 and Evolution believes it will be a game changer.
“Evolution’s growth target is to grow faster than the total European live casino market. Market growth is influenced by several underlying factors, such as technological advances with, among other things, improved hardware and increased bandwidth, increased use of mobile devices, the migration of land-based casinos to online environments and market regulations,” the latest financial report explained.
“To a large extent, growth is also driven by live casino having grown in importance for most gaming operators, who consequently elect to expose and market their live offerings to customers more extensively than before.”
Evolution announced the Q4 operating growth was 38% to €70.2 million which contributed to full year operation growth to€245.4 million. EBITDA for 4Q increased by 40% to €31.6million, corresponding to a margin of 45% while a FY increase of was 34% to €107.7million. Compared to the 2017FY increase of €80.6million, this represents a margin of 43.9%.