Evolution Gaming eyes further US expansion as 2018 revenues climb 38%
Live casino supplier says it will continue to roll out more games in North America and also plans to invest in a new Malta-based studio
Evolution Gaming today reported a 38% year-on-year rise in full-year revenues as the live casino supplier looks to expand further in the US on the back of slower growth in the UK and Rest of World.
The company recorded revenues of €245.4m for the 12-month period, up from the €178m reported in the previous year, while EBITDA increased 34% to €107.7m with a margin of 43.9%.
In the final quarter of 2018, Evolution recorded revenues of €70.2m, up 38% compared to Q4 2017, with the UK accounting for 14% of GGR generated for gaming operators via Evolution’s platform, down from 18% last year.
Meanwhile, GGR from Rest of World increased from 20% in Q4 2017 compared to 26% in Q4 2018 following Evolution Gaming’s expansion into the North American market, including its acquisition of live dealer mobile provider Ezugi.
“With the business of Ezugi, we further extend our footprint especially in the US, while also gaining more studio capacity and resources within product development,” Martin Carlesund, CEO of Evolution Gaming, said.
“Another key activity in North America will be to roll out more games; Live Infinite Blackjack is one example that was successfully launched for our European operators in the past quarter,” he added.
The acquisition of Ezugi came three months after Evolution expanded into the US online gambling market by installing its ninth studio in Atlantic City, New Jersey.
Evolution’s share price was up 9.58% to SEK658 at the time of writing.
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