Evolution Gaming Q3 revenues up 47% on global expansion

Evolution Gaming has reported a 47% rise in Q3 2019 revenues to €94.7m, with the live casino provider hailing an increased global demand for its games.

EBITDA increased by 73% to €48.5m, corresponding to a margin of 51.2%.

The operator broke down its results by region for the first time, to reflect the fact its growth was “truly global”.

Asian revenues more than doubled year-on-year, as did North American revenues, while Rest of Europe was the biggest single category.

The Nordics and the UK grew 30% and 12% respectively.

CEO Martin Carlesund said growth was also driven by the firm reaching new player types, who were playing Live games for the first time.

“These new players are being converted from other game categories, such as slots, which is very encouraging to see,” Carlesund said.

“Through our expansion and construction of studio capacity, together with the 10 new games launched during the first half of 2019, we are also favourably positioned to take advantage of the growing general demand for Live.”

Looking ahead to 2020, Carlesund said the provider aimed to “pave the way for the entire industry by launching new ground-breaking products”.

“The absolute core of Evolution is built on innovation with a focus to meet the demand for Live and to constantly increase the gap to the competition,” Carlesund added.

The provider’s share price was down 2% in early trading Thursday.