Evolution Gaming results published

Live dealer technology and games provider Evolution Gaming has posted a strong set of Q2 and H1 2018 results, highlighting the following developments;

Q2-2018

* Operating revenues up by 40 percent to Euro 59.3 million (42.3 in Q2-2017)

* EBITDA up 36 percent to Euro 26.2 million (19.2), corresponding to a margin of 44.2 percent (45.5)

* Profit at Euro  20.1 million (14.6)

H1-2018

* Operating revenues rose 35 percent to Euro 110.8 million (82.0 in H1-2017)

* EBITDA up by 33 percent to Euro 48.1 million (36.3), corresponding to a margin of 43.4 percent (44.2)

* Profit up at Euro 36.7 million (27.4)

Events during the second quarter of 2018

* Favourable demand for new tables, over 500 expected to be live at year-end

^ New customers and preparations for launch of new studio in New Jersey in Q3

* Evolution Gaming ready to go in New Jersey

CEO Martin Carlesund reported:

“As this report is being published, the FIFA World Cup has just ended – and the second quarter was largely characterised by the preparations for this major sporting event, with many new tables in our studios, followed by a high level of activity as the tournament began.

“We see continued favourable demand for tables even after the World Cup, and expect to have a total of more than 500 in operation at the end of the year. Similar to our historical pattern, we are leveraging our size and utilising our expanded resources for optimum efficiency, with each new table being optimised and delivering more over time.

“We made clear progress with our initiative in New Jersey, with several new customer agreements and activities associated with our new studio in that market. The studio is being built to serve several operators and will initially offer 10 tables with Live American Roulette, Blackjack, Baccarat, Three Card Poker, Ultimate Texas Hold’em and Slingshot Auto Roulette. More games and tables will then be released gradually, including dedicated tables for specific operators. The studio in New Jersey is expected to go live in the third quarter this year.

“The regulation of the Swedish market is approaching, and we are very proud to have signed agreements after the end of the quarter, gaining the trust to deliver Live Casino services to both Svenska Spel and ATG. We take a positive view of regulation and look forward to continuing to work with both existing and new customers in Sweden’s new gaming market.

“Most of our customers are licensed in a limited number of jurisdictions while operating in a global market. In line with our customers’ geographical spread, our global exposure is also increasing. Against this background we provide, in this report, a clearer picture of where our end users are located. We can affirm that the proportion outside Europe is increasing, and that regulated markets account for about one third.

“I would particularly like to highlight Lightning Roulette as an example of how we are continuously renewing the Live Casino vertical and are at the absolute forefront of development. Since its launch just a few months ago, Lightning Roulette, which is unique to our platform, has become one of the most popular games in the market.

“During the quarter, we signed agreements for a total of five new Dual Play solutions for casinos in both Europe and the US, thereby strengthening our position as the natural partner for land-based casinos seeking to develop their brands online.”

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