EvolutionGaming Reports Growth in Q1

Slot and table games developer and supplier, Evolution Gaming, is one of the iGaming companies who are continuing to make good results in 2018. The publicly announced first quarter report numbers are in and they’re looking good: the year-on-year growth across revenue and profit has been made in the first three months of this year.

The company’s interim report for the period of January to March 2018 says that operating revenues have increased by as much as 30% to a total of €51.6 million! EBITDA has increased by 29% to €22 million, while profit for the period amounted to €16.5 million.

EvoluitonGaming’s key events in the first quarter of 2018 were investing in studios and game innovation, new production hub completion in Georgia and the continued high demand for live casinos in Europe as well as globally.

CEO, Martin Carlesund, comments on these figures: “Overall, the first quarter of 2018 has been characterised by growth and profitability in line with our expectations, considering the ongoing investments in both new studios and games. We noted a clearly stronger performance at the end of the period, with good growth and earnings, compared with the beginning of the period. Revenues in the quarter amounted to EUR 51.6 million, corresponding to a 30 percent increase compared with the first quarter of 2017. EBITDA amounted to EUR 22.0 million, with a margin of 43 percent. For the full-year, we expect profitability to be in line with the level achieved in 2017, with some fluctuation, both up and down, from quarter to quarter.”

He concluded that the brand has experienced a positive start to the second quarter already and that the preparations for the FIFA World Cup 2018 are “in full swing.”

Source:

“Interim Report for January-March 2018”, evolutiongaming.com, April 19, 2018.