Evolution Gaming revenue surges 49% in 2019
Stockholm-listed live casino provider’s profit margin last year the highest in its 14-year history
Evolution Gaming has announced its revenue soared by 49% to €365.8m (£307m) in 2019, compared with €245.4m generated the year prior.
In a financial update issued this morning, the Malta-based business also revealed that revenue in the fourth quarter ended 31 December amounted to €106m (£89.1m), a jump of 51% over the €70.2m generated in the same period in 2018.
Furthermore, EBITDA leapt by 70% to €182.9m (£154m) for the whole of 2019 while EBITDA margin of 50% was the highest since the company was established in 2006.
Profit for FY2019 and Q4 came in at €149.7m (£125.8m) and €46.8m (£39.3m) respectively.
Meanwhile, full-year operating expenses rose 33% year-on-year to €208.3m (£175.1m), driven by higher personnel costs connected to the launch of new studios and tables, Evolution Gaming revealed.
In terms of regional revenue, Europe accounted for the lion’s share of revenue in Q4 at €53.3m (£44.8m). This was followed by Asia at €17.7m (£14.8m) while €12m (£10m) was derived from the UK.
From an operational standpoint, the supplier, which unveiled 12 new titles at ICE, also said that at the end of the fourth quarter it boasted more than 700 tables serving more than 200 customers.
Evolution Gaming also highlighted how the business had signed several new customers, including Flutter Entertainment-owned Paddy Power Betfair, Parx Casino in Pennsylvania, and US casino operator Penn National Gaming.
The business has also made additional investments in its live casino studio in New Jersey to expand its capacity, game portfolio and meet demand. A studio in Pennsylvania is under construction and expected to open in H1 2020.
Evolution Gaming CEO Martin Carlesund said: “I am proud of what we have achieved in 2019, which has been an outstanding year from both a financial and operational perspective.
“I am very impressed with what our employees achieve every day – we are now approximately 8,000 employees working together with our eternal mission; to increase the gap to the competitors by offering the market’s best solutions.”
He added: “2020 has started well and I look forward to another exciting year.”