Industry giant Evolution Gaming’s operation revenue took a massive leap forward and shot up to 105% for 2021’s Q1. Evolution enjoyed a revenue increase from €115.1 million in the first quarter of 2020 to a €235.8 million revenue now.
This increase came due to the completion of its NetEnt and Red Tiger Gaming acquisitions, as well as growth in the market and overall high demand in the gambling industry. Furthermore, the group’s EBITDA also increased by 67.9% to €160 million, while profit increased by 144% to €132 million. Earnings per share earlier than dilution was €0.62.
Evolution Gaming are famous for video-streamed Live Dealer gaming on many brands popular for online gambling in Canada and other countries such as Betsson and Unibet. In fact, Evolution’s next plans include the acquisition of another solid brand, Big Time Gaming by the end of this quarter.
CEO of Evolution Gaming, Martin Carlesund claims that ‘the transaction is predicted to be accomplished throughout the second quarter. I look ahead to welcoming Big Time Gaming’s workforce to Evolution and to work collectively on new modern video games.’
All these recent, and upcoming, acquisitions are all with the intention of Evolution becoming a brand that is a ‘world chief in all disciplines to online casino’. With NetEnt and Red Tiger Gaming, already under Evolution’s belt, its general slot portfolio is ever-increasing.
Evolution Gaming are said to take a great revamp when it comes to the production of new and modern video games, including its slot collection. Due to Evolution’s revenue growth, the brand is expecting a ‘robust underlying demand’ from online casino choices in the first quarter of 2021 which is why the team is aiming for further growth. Its recent online casino division has been experiencing 60% year-on-year development in Q1 which is the ultimate development price that the corporate has seen in one quarter.
Carlesund claims that ‘the integration of NetEnt has been successful. I am truly impressed by the work from our teams, who, without losing focus on the daily high-quality delivery, and in a very short time, have managed to merge both workflows and organisational structure. We can already see good results from this work in the first quarter and I believe we are well-set to continue to capitalise on the growing interest in online casino worldwide’.
Even though 2021 has proved to be successful for Evolution Gaming, the year has been nothing but tough and challenging for the industry, especially due to the Covid-19 pandemic. Many studios are working at a diminished capacity for their workers’ safety and security.
Carlesund goes on to say that ‘Evolution is really a worldwide operation, serving gamers everywhere in the world. Our business organisation is now structured in four areas: Europe, Asia, North America and Latin America & Africa. With devoted business sources to every area, we look ahead to discover additional improvement for every area along with operators.’
With the speculated and actualised increase in demand, Evolution Gaming is aiming for further development of its studios and operational capability. The brand has already dedicated action in North America and different areas through 2021’s Q1, with more action to follow in the coming months.