Evolution Gaming Records Financial Growth, Confirms Management ChangesPublished October 29, 2016 by Ivan P
Evolution Gaming posts strong financial growth for Q3 of 2017, poised for another record year.
Evolution Gaming, one of the leading Live Casino solutions providers, has published their Q3 financial report, revealing significant growth when compared to the same period last year. The company is especially proud of the fact they posted growth in relation to the last quarter, despite the fact Q3 has historically been the weakest one.
47% Increase in Revenue
When compared to the same period last year, Evolution Gaming has recorded a growth of astonishing 47%. In terms of actual numbers, the company earned €29.2 million. Their profit increased to €7.4 million, which is €1.6 million more than the last year.
The current CEO of Evolution, Jens von Bahr, expressed his pleasure with the fact that Live Casino continues to grow in popularity with the players, which allowed the company to improve their revenue. Being able to show financial growth is crucial because constant demand for new products continues to drive investments, naturally creating additional pressure on the margin, von Bahr explained.
Management and Board Changes Announced
Although the company has posted rather impressive numbers, some significant shuffling is set to take place within the board and senior management. According to von Bahr, changes set to take place on November 1 should help with handling the strong growth.
As a part of the shuffle, von Bahr will relinquish his CEO position in favor of Martin Carlesund, who will assume this responsible position. Von Bahr will become the executive chairman, while one of the company's new employees, Johan Nordström, will assume the CEO role of the Malta branch.
Another Record Year for Evolution Gaming
Concluding the report, von Bahr emphasized he was very proud that Evolution Gaming is on the verge of another record year just as his commitments as a CEO are coming to an end. He expressed his full confidence that Carlesund was just the right person to take over the position and push the company even further.
It is worth noting that the only reason Evolution Gaming numbers are not even higher is the fact the company has spent a significant amount on various expansion projects.