Evolution Gaming Cites Mobile Market for Massive GrowthTia Winter | 31 July 2017
Evolution’s second quarter results have shown a marked year on year increase in all of the company’s key financials, and the firm has credited this increase to a growing and sustained demand for its mobile gaming products and operations.
The live casino developer’s operating revenues in Q2 amounted to over NZ$58.6 million – a notable rise of 56% over the amount collected during the same period of last year. Another financial indicator that saw a rise was Evolution’s EBITDA (earnings before tax, depreciation and amortisation), which hiked 81% to $25.6m. Overall profit ballooned from $10.2m to $19.5m for the firm.
Positive Q2 Results Boost H1 Figures For Live Casino Provider
Evolution Gaming’s positive Q2 performance has also bolstered the company’s overall figures for the first half of the year, during which operating revenue came to $110 million, increasing from $69.3 million over the two quarters of the previous year. During H1, EBITDA also grew from $27.9 million to $49.3 million, while operating profit increased to $39.9 million over the $22.2 million compared during the same period of 2016.
Evolution CEO Martin Carlesund has noted that he is pleased to be able to sum up an eventful quarter for his company with pleasing growth in many areas. The momentum that Evolution has experienced in past quarters has continued into Q2, he said, with the company enjoying strong growth and demand across all of its offerings.
Evolution CEO Reveals Plans For New Live Studio In Tbilisi, Georgia
Carlesund also highlighted that gaming revenues from his firm’s mobile platform has exceeded 50% for the first time in this quarter, showing success for its live casino products for mobile devices.
Other driving factors behind the recent growth include continued live casino initiatives among the company’s customers, as well as land-based casinos showing notable interest in Evolution’s new Dual Play Roulette – a converging product available for all of the group’s licensees, which can be found at the Grand Casino Bucharest.
Finally, the CEO said, he is pleased to announce that once Q2 is concluded, Evolution has been given the green light to begin to establish its next major central live gaming studio in Tbilisi, Georgia. From the new studio, Evolution will continue to expand its live casino offerings into new markets and to new customers, Carlesund revealed.