Evolution’s Interim Report Reveals Strong Start To 2020: €115,1M In Q1 Revenues

Evolution Gaming’s Interim report for the first three months of 2020 leaves no doubt that the world’s top Live Dealer software provider can be proud of how it started off the year. Released on April 23, the day when Mega Ball, the brand’s first game in the lottery vertical was officially launched, it shows a 45% growth in operating revenues in comparison to the Q1 2019 that reached impressive €115,1 million.

The report was presented by the Group’s CEO, Martin Carlesund, who expressed satisfaction at the brand’s very strong start with regard to both growth and profitability. Indeed, Evo’s financial statistics look great: EBITDA amounted to €64 million with a margin of 55.7% while profit has reached €54.2 million, almost doubling the results achieved in the same period of 2019.

Carlesund said:

“With a good financial start to the year, great confidence ahead of the upcoming product launches and a good momentum at the start of the second quarter, I am more certain of our objective for 2020 to improve the margin level compared to 2019. Together, all employees did a fantastic job during the first quarter. I am deeply grateful for the energy and determination with which we have taken up the challenge – we have step-by-step, methodically moved forward every day.“

He attached the utmost importance to the company’s production studios in Malta and Latvia, highlighting their ability to manage a significantly larger share of the traffic caused by the temporary closure of Georgia and Spain hubs.

Carlesund also commented on the significantly elevated demand for the company’s Live Dealer products: “During the end of the quarter the absence of sporting betting games likely also favoured growth in our products. This circumstance effects also the start of the second quarter and we now see many new players being introduced to the Live segment.“

Naturally, products were also in the focus of the report, all the more so, it was marked by the official launch of once-of-its-kind Mega Ball, including a First Person version.

First revealed to the public in February at ICE London, this game was just one of the twelve novelties added to the Evolution Gaming portfolio known as the largest and most diverse out there. Besides numerous variations on blackjack, baccarat, poker, and roulette, it also features an exciting Game Shows category.

Mentioning the success…

…of Speed Blackjack and Lightning Baccarat that went live during the first quarter of 2020, Carlesund revealed plans to further extend the First Person portfolio and to launch Power Blackjack and Baccarat Multiplay in the Q2. 

 “To conclude, I am proud of how we have started off the year from a financial perspective, but even prouder of how we have handled these difficult times from an operational standpoint. All employees have showed that they are fast-paced, flexible and that even in hard circumstances they are able to maintain their focus on our given path; to continue to increase the gap to the competition and to strengthen our leading position,“ Carlesund said in closing.

Source: “Interim Report For January-March 2020“. Evolution Gaming. April 23, 2020.