Expansion and New Products Key for Evolution Gaming in 2017

Posted by: CasinosOnline in Casino News
More good news for Evolution Gaming shareholders

Evolution Gaming enjoys excellent results in 2017, starts 2018 strongly.

Leading live dealer casino provider Evolution Gaming can be more than satisfied with its results in 2017, whose last quarter was also finished in style.

According to the recently published figures, the company recorded revenue of €50.7 million during the three-month period ending on December 31, 2017. That’s an increase of 48% when compared to the corresponding period of 2016.

Numbers Going Up

The profit nearly doubled (99%) to €18 million, while EBITDA spiked 74% to €22.6 million.

Full-year revenue was €178.4 million, 54% more than in 2016. The profit went up by a staggering 96% to €66.9 million, while both EBITDA and the corresponding margin recorded an increase of 81% (€80.6 million) and 45.2% respectively.

Martin Carlesund, Evolution Gaming Chief Executive Officer, said the year was exceptional in many ways. He added intense expansion at the company’s existing live casino studios had been crucial for Q4’s strong performance, with around 400 tables in action at the moment.

Carlesund stated that Evolution was in the middle of an investment phase, where a good portion of costs was being allocated for development of new products. According to available information, the list of the upcoming products includes the first-ever live casino version of Texas Hold’em Bonus and new variants of baccarat.

Expanding Existing and Opening New Studios

Along with the expanded studios in Latvia and Romania, and a brand-new one in Georgia ready to go live in the second quarter of this year, Evolution Gaming was also proud to announce the launching of its first studio located outside of Europe. The new North American studio was built through a partnership deal with the British Columbia Lottery Corporation’s PlayNow.com website.

In addition to this, Evolution also launched its groundbreaking Lightning Roulette, combining Live Casino with high-payout RNG lucky number features, offering players a wide array of new possibilities.

Commenting on the launch of Lightning Roulette, Todd Haushalter, Evolution’s Chief Product Officer said it was the most complex product the company had ever made. He added the complexity of the game was hidden from the players, who would have the chance to enjoy the advance gameplay and possibly win payouts going up to 500x the wager.