30% Q1 Revenue Growth For Evolution GamingTia Winter | 25 April 2018
Live dealer casino industry leader Evolution Gaming has rocketed to fame as the world’s premier supplier of live gaming software. Earlier this year, Evolution even launched a brand new, cutting-edge live streaming studio in Tbilisi, Georgia, which came as a testament to the huge demand for its premium live casino products.
Now, the highly successful firm has revealed its first quarter financial results for 2018, revealing a whopping 30% rise in its year-on-year gaming revenues. There were also many other key financial areas in which Evolution experienced growth during this period, and the company is predicting a similar trend to play out for the remainder of the year.
Key Financial Indicators Rise
Along with its full financial report, Evolution recently released a document highlighting its strongest performing areas for the first three months of the year. Among them was a 30% increase in operating revenues to €51.6 million, and a considerably higher profit margin of €16.5 million for Q1 alone.
The live dealer casino operator’s EBITDA (earnings before interest, tax, depreciation and amortisation) also rose 29% to reach €22 million, coupled with margins of 42.6% in total. Last but not least on the firm’s list of achievements for earlier this year was an increase in its earnings per share, which grew from €0.11 last year to €0.46 this year, adding plenty of additional value for shareholders.
Many New Games To Launch In 2018
Commenting on his firm’s impressive Q1 performance, Evolution Gaming CEO Martin Carlesund noted that overall, the first quarter of the year was characterised by both profitability and big growth that met Evolution’s expectations for the period. He also noted that ongoing investments in new live dealer games and studios have also contributed to his firm’s success.
According to Carlesund, the company also found a notably stronger performance towards the end of the quarter. The CEO praised Evolution’s earnings and growth at this time, which both increased exponentially over the figures demonstrated at the start of the financial period.
The executive further stated that his firm has a very ‘intensive’ time ahead of it, with plenty of new gaming tables set to be launched during the course of the year. He stated that with more studio capacity than ever before and numerous upcoming game releases, Evolution is increasing its foothold as one of the world’s leading gaming software suppliers.