Evolution Gaming is eyeing continued positive development in the United States, as the firm also aims to continue an “eternal ambition” of widening the gap to competitors throughout 2020.
Lauding continued expansion in North America, the signing of several new customers, including Flutter Entertainment with brands Paddy Power and Betfair, Parx Casino and Penn National Gaming, as well as good leverage from investments, the firm reports yet further growth for 2019’s final quarter and full year.
Operating revenue for Q4 saw a 51 per cent year-on-year jump from €70.2m to €106m, which helped push full-year figures to €365.7m, representing a 49 per cent increase from €245.4m.
The firm aligns the positive revenue development to increased commission income from both new and existing customers, dedicated tables and environments also contributing as a result of additional customers launching or extending their customised live casino environments.
EBITDA saw Q4 and FY increases of 77 per cent of 70 per cent to €55.8m (2018: €31.5m) and €182.9m (2018: €107.6m), respectively, with profit for the period reaching €46.8m for the final period of 2019, an 83 per cent boost from €26.7m, with its full year figure surging 79 per cent from €83.4m to €149.7m.
Martin Carlesund, CEO of Evolution Gaming, commented: “I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution. The products we launched during the year – including new titles in the game show category – in combination with a 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, has had a positive effect on our margin.”
Adding: “Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania and the process to build a studio in Pennsylvania is ongoing.
“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.”
Addressing various elements of market development, Evolution focused in on a consistently expanding European live casino market and reasserted a previous ambition of growing faster that than the continents entire sector.