Evolution Gaming go from strength to strength

Friday, Feb 17, 2017 16:35

The excellent Evolution Gaming achieved significant growth in 2016. The online gaming software developers specialise in providing top-class live casino games to many of the major online casinos.

For 2016, their full-year operating revenue amounted to €115.5 million ($122.9 million), up by 51% on the €76.4 million posted in the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at €44.6 million, an increase of 44% on 2015, while profit for the 12 month period totalled €31.7 million.

The full-year results were boosted by an impressive showing by Evolution in the fourth quarter, during which operating revenues increased 53% year-on-year to €34.3 million.

Profit in the fourth quarter hiked from €6.9 million to €9 million, while EBITDA jumped 39% to €13 million.

Martin Carlesund, chief executive of Evolution, said: “2016 marked Evolution Gaming’s 10th year in business and I am happy to report that we wrapped up a very successful year with a strong quarter.

“Live casino continues to strengthen its position among operators as well as players; our focus on the quality of the user experience, offering the broadest product portfolio for all devices and delivering a leading service to our customers are some of the factors behind our strong results in 2016.

“2017 will be an exciting year for Evolution; we will continue to work according to our strategy where product innovation, regulated markets and land-based solutions are key areas.

“In addition to our commercial focus, we are also preparing the company for a move to Nasdaq Stockholm in the second quarter of the year.”