Evolution Sees Outstanding Fiscal 2019 Showcasing 12 Games At ICE London, The “Craziest“ One Among Them
Posted on February 19, 2020 | 11:46 am
The Year-end report released by Evolution Gaming last Wednesday showed that 2019 was a great success for the leading B2B provider of Live Casino solutions.
While the company’s operating revenues increased by 49% to EUR 365.8 million (compared to 245.4 million in 2018), the profit for the 12-month period amounted to EUR 149.7 million (in comparison with 83.5 million the year before). The EBITDA margin (a measure of a company’s operating profit as a percentage of its revenue) for the full year reached 50 percent, the highest full-year margin in the company’s history and slightly surpassed our expectations from this summer which was 47-49 percent.
Hard Work Is The Key To Success
Extremely satisfied with the progress achieved, Evolution’s CEO, Martin Carlesund, commented: “The products we launched during the year – including new titles in the Game Show category – in combination with continued strong market development and global demand, have contributed to a very high growth rate.
Furthermore, we also experienced strong results from the investments in increased studio capacity we have made in recent years. Those factors, in combination with a constant pursuit of cost efficiency, have had a positive effect on our margin.“
Special attention was paid to the fourth quarter of 2019, which saw revenue amounted to EUR 106.0 million, an increase of 51% compared with the corresponding three months of 2018. By the way, profit for this period amounted to EUR 46.8 million while EBITDA achieved EUR 55.8 million, matching a margin of 52.7 percent.
Speaking of the factors…
…that contributed to the success, Martin Carlesund highlighted the importance of the agreements with Flutter Entertainment and its brands Paddy Power and Betfair, as well as deals with new operators in Pennsylvania that further strengthened their presence in the United States.
He added: “We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market.“
12 New Games At ICE 2020
Evolution, which recently entered the South African market, rocked the stage showcasing a fantastic line-up of 12 new top-notch titles at the ICE London Gaming Fair held at the beginning of February, where it was named Online Casino Supplier of the Year. Besides Instant Roulette, Lightning Baccarat, and Craps, the gambling community was introduced to Power Blackjack, Speed Blackjack (the fastest 21 fun yet), and two ground-breaking games – Crazy Time and Mega Ball.
While Mega Ball…
…is a unique lottery and bingo-style entertainment, where players make lines trying to win over 1,000,000x, Crazy Time was described by Todd Haushalter, Evolution’s Chief Product Officer as “craziest, most bonus-laden, game show ever.“ Well, it’s not hard to believe given numerous exciting bonus rounds and massive multipliers this title offers.
Needless to say, everyone at Evolution is proud of their results in 2019, which was an exceptional year from both financial and operational aspects that also brought many new Live Dealer tables.
Summarising the report, Martin Carlesund said: ”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. 2020 has started well and I look forward to another exciting year!“