Evolution’s New Tbilisi Studio Opens DoorsTia Winter | 6 April 2018
The Tbilisi studio is the ninth of its kind, and is set to employ over 100 staff from Georgia and surrounds. However, Evolution has also noted that it expects to grow its workforce in the USA considerably in the coming years, hinting at the possibility of additional live dealer studios to come.
Live Studio To Help Manage Growth
In a press statement on the opening, Evolution noted that the Tbilisi studio will assist the developer in managing its expected growth over the next couple of years. The hub will work alongside Evolution’s existing major live gaming studios in Malta and the Latvian city of Riga, supplying real money live games to players across the globe.
Evolution Gaming CEO Martin Carlesund added that at Evolution, his team is continuously striving to improve its services for its casino licensees. He added that the firm also aims to increase its leadership status in the live casino landscape, becoming the ultimate authority on the provision of such services.
According to Carlesund, his firm’s studio in Tbilisi will be no exception, as Evolution has used its knowledge gained through a decade of building gaming studios to create its ‘most advanced [studio] facility yet’. The CEO believes that the new studio is an investment into his company’s future, which will support its development goals over the coming years.
Strong Financials For Evolution
In related news, Evolution recently revealed its full year financials for 2017, revealing year-on-year growth across many of its key fiscal divisions. The developer’s operating revenues grew by 54% to reach €178.4 million ($222.7 million), while earnings before interest, tax, depreciation and amortisation (EBITDA) grew by a whopping 81% to reach €80.6 million.
Other financial highlights for Evolution included a profit hike from €31.7 million to €62.1 million, and earnings per share for the year amounting to €1.73 compared to €0.88 in 2016. The firm also enjoyed a strong fourth quarter last year, seeing revenues rising by 48% over the corresponding quarter of the previous year to reach a respectable €50.7 million.