Evolution Gaming reported a successful start to 2024 as Q1 operating revenue rose by 16.7 per cent to €505.1m.
Fuelling net profit of €269.2m, the firm was also boosted by EBITDA growth of 15.2 per cent to €345.8m, as well as the elevation of its table games offering.
Specifically, live casino for the firm improved by 19.8 per cent, playing a key role in boosting revenue as it looks to leverage its position as a market leader within this space.
Evolution CEO Martin Carlesund emphasised that amidst the positive outlook, there is still work to do for the firm as it looks to continue RNG growth into new regions.
He stated: “Revenue from Live Casino increased by 19.8 per cent year-on-year and, compared to the previous quarter, we added €25.7m in revenue. Although a strong start to the new year, much remains to be done to fully leverage our position in the market and serve the underlying demand.”
The firm’s CEO also lauded the group’s table games performance as key market growth had a substantial impact on the overall evolution of the group’s table offering.
He stated: “During the period we have continued to increase our table capacity to meet the market demand, and I am pleased to say that the progress made in Q4 has carried over into this year. We have continuously accelerated our recruitment and made good progress in our building expansion projects in several studios – all together we have a much improved balance between supply and demand today compared to last year.”
The firm also detailed a focus on tapping into AI for the year ahead, as it looks to maximise efficiency across operations and secure the most fruitful results for partners.
Carlesund emphasised: “We are adding and injecting AI into our system infrastructure and also in our way of operating where we see that it can contribute to efficiency, analysis or automation. Now we also can see clear benefits of OSS as it is starting to deliver direct results for our operators. With AI-driven functionality and world-wide distribution to the largest online casino network in the world OSS is already very powerful. We will continue to add features, more to come later in the year.”
In terms of specific demographics, the company’s North American growth was significantly boosted by a new collaboration with Fanatics, as well as the expansion of the firm’s deal with Caesars.
Nonetheless, the key booster for the firm was Asia, where it benefited from ‘robust’ growth, as revenue was elevated by 28.3 per cent year-on-year to €197.6m.
