Evolution full-year revenues leap 55%

Evolution Gaming has recorded a 55% increase in revenues and 76% leap in EBITDA after the live casino supplier closed the year with a strong Q4.

Total revenues for the year ended 31 December 2015 were ?75m while EBITDA, minus a one-off cost of approximately ?4m related to its recent IPO, amounted to ?31m at a slightly improved margin of 41.3%.

Full-year numbers were boosted by a strong final trading quarter with Q4 revenues up 62% to ?22.4m and EBITDA, again minus one-off costs, up 68% to ?9.3m.

The final quarter saw the supplier launch a number of new products, including the high-roller friendly Baccarat Squeeze and Dual Play Roulette.

Furthermore, the company signed a trio of new customers in the shape of Casumo, Gamesys and SBTech, however, chief executive Jens von Bahr said growth had primarily been driven by its existing client base.

The firm was also aided by continued growth in mobile which by the end of the fourth quarter contributed 32% of its customers’ gaming revenues, a 33% increase on Q3.

Evolution also gave an update on Q1 2016, which it said had “started strongly” with the firm having agreed to build a dedicated games studio in Belgium for Napoleon Games and also decide to apply to list on the Nasdaq Stockholm exchange.

The firm also struck an exclusive agreement with Scientific Games for the supply of Ultimate Texas Hold’em, which von Bahr said should be up and running by the summer.

Evolution’s share price was today up 4% to SEK280.50.