Evolution Gaming releases year-end report which showcases strong numbers for the company
Live dealer software provider Evolution Gaming has published a year-on-year rise in revenue and profit for 2019. Both new and existing customers contributed to the increase in the commission income.
What the Numbers Say
Stockholm-listed live casino provider has announced its 2019 revenue shot up by 49% to €365.8m (£307m), compared to 2018’s €245.4m.
The earnings before interest, tax, depreciation and amortization (EBITDA) were up 70% to €182.9m for the year.
Chief executive Martin Carlesund stated:
“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,” he added.
There are approximately 8,000 employees working together with their “eternal mission.” The mission is 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,” he concluded.
Carlesund lauded Evolution’s performance in the fourth quarter, during which the revenue increased 51% year-on-year to €106.0m. Profit for the period amounted to €46.8m, while EBITDA improved 77% to €55.8m.
While European markets were Evolution’s main region of income, since last year, they’ve also strengthened their presence in the US. This was achieved through agreements with new operators in Pennsylvania and the ongoing process to build a studio in Pennsylvania.
They’ve made additional investments in the New Jersey studio expansion, their game portfolio and to meet the demand.
“At the end of the fourth quarter, Evolution had more than 700 tables serving over 200 customers. During the quarter, we further strengthened our customer portfolio”, he said, referring to the agreement with Flutter Entertainment’s brands Paddy Power and Betfair.
“Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania. We see good opportunities for continued positive development in the US”, he concluded.