Revenue and Profit on the Rise for Evolution Gaming in Q1 2018

Revenue and Profit on the Rise for Evolution Gaming in Q1 2018

May 8, 2018
Staff Writer
124
More good news for Evolution Gaming shareholders

Evolution Gaming starts 2018 strongly, as the company continues to impress.

The leading provider of video-streamed live dealer solutions Evolution Gaming has posted its results for the year’s first quarter, revealing a strong growth.

According to the published report, the company’s operating profit recorded an increase of 30% to €51.6 million, with EBITDA also going up by 29%.

In Line with Expectations

The profits jumped during the three-month period ending on March 31, reaching €16.5 million.

Commenting on the latest results, Evolution Gaming’s Chief Executive Officer Martin Carlesund said the figures had met the company’s expectations.

It was a busy three-month period, marked by several important moves. Apart from investing a significant amount of money into the company’s new production hub in the Georgian capital Tbilisi, Evolution Gaming introduced a total of seven new products at the ICE Totally Gaming held in London in February.

The company has ambitious plans for this year, and the rise in revenue and profits suggest everything is going according to plan. Numbers at the end of the quarter were much better than in January, which further demonstrates the rise in growth and profitability.

Results Will Reflect on the Industry as a Whole

Since Evolution Gaming is one of the leading names in live dealer casinos, its excellent results will surely impact the entire industry as well. Live dealer casino games are becoming more and more popular not only in Europe, but all around the world. At this moment, the Asian market doesn’t play a key role in the development of this segment, but that could easily change during this year and beyond.

We can expect more investments in online games with real dealers, while a number of operators have expressed their desire to be more involved in the growth of the live casino games industry.

Evolution Gaming has so far invested a lot of money, not only in new games, but also in its live casino studios, and these investments have paid off in a spectacular manner. The company’s impressive Q1 2018 figures should motivate its competition as well, since they prove that carefully planned investments can bring solid results. There’s doubt we can expect even better results in the future.

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