Evolution Gaming Reports Revenue and Profit Growth in Q1Published May 1, 2018 by Florin P
Evolution Gaming’s operating revenues grew by 30% in Q1 2018, with a stronger performance at the end of the period.
Evolution Gaming has unveiled its operating revenues for the first quarter of 2018. Between January and March, these grew by 30% up to €51.6 million, while EBITDA also grew by 29%. Not surprisingly, the profits increased as well and now sit at €16.5 million for these three months. The company’s CEO Martin Carlesund was the one to break the news and told the media that the positive numbers are in line with their expectations.
The company has invested significant amounts in a new production hub located in Tbilisi, Georgia. This February, Evolution Gaming launched seven new products, which were unveiled at the ICE events. They are on expansion path and the increase in revenue and profits is likely to propel their ambitious plans for 2018. Growth and profitability increased especially at the end of the Q1, as the company posted better numbers compared to January.
Growing Demand for Live Casino Games
Evolution Gaming is one of the global leaders in live dealer casinos and their positive numbers reflect on the industry as a whole. Both at a European level and worldwide, players are paying more attention to live dealer casino games. The Asian markets are the main drivers of growth and they are expected to play a positive role in 2018 and beyond. As the live casino games industry is booming, it is expected that more operators will be willing to invest in online games with real dealers.
Evolution Gaming has spent a lot of money on their new games and studios and the return on investment was spectacular. Their Q1 numbers should provide their peers with the impetus to do the same and invest in live dealer games. Competition is already intense in this line of work and Evolution Gaming is trying to maintain and even expand their lead.