Evolution Gaming reports strong third quarter results
News on 24 Oct 2018
News on 24 Oct 2018
Live dealer technology and games provider Evolution Gaming has reported a strong Q3-2018 performance with revenues up 41 percent y-o-y at Euro 64.3 million, and EBITDA improvement of 28 percent to Euro 28 million on marin of 44 percent.
Profit for the period rose from Euro 16.8 million to Euro 21.2 million.
On a YTD (January to end September) basis operating revenue increased year-on-year by 37 percent to Euro 175.2 million, with EBITDA up 31 percent at Euro 76.1 million on margin of 43 percent, and profit of Euro 57.9 million ( up from Euro 44.1 million).
CEO Martin Carlesund reported that the quarter delivered continued high product demand and growth.
“The margin was impacted by a faster-than-expected growth in the number of tables,” he said. “We had approximately 500 tables live at the end of the quarter and we expect continued high expansion going forward. We further expect the margin to improve somewhat in the fourth quarter, while the full year number will be in the lower end of our earlier expectations.”
