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Evolution Gaming Interim Report

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Evolution released today its Interim Report for January-September 2018.

 

Third quarter of 2018 (Q3 2017)

  • Operating revenues increased by 41% to EUR 64.3 million (45.7)
  • EBITDA increased by 28% to EUR 28.0 million (21.8), corresponding to a margin of 43.5% (47.7)
  • Profit for the period amounted to EUR 21.2 million (16.8)
  • Earnings per share amounted to EUR 0.59 (0.47)

January-September 2018 (9m 2017)

  • Operating revenues increased by 37% to EUR 175.2 million (127.7)
  • EBITDA increased by 31% to EUR 76.1 million (58.0), corresponding to a margin of 43.4% (45.5)
  • Profit for the period amounted to EUR 57.9 million (44.1)
  • Earnings per share amounted to EUR 1.61 (1.23)

Events during the third quarter of 2018

  • Higher than expected growth in number of tables
  • Launch of new studio in New Jersey
  • Expansion in Malta during 2019

Summary of the third quarter and the first nine months of 2018

Evolution gaming Interim Report

 

 

Comments from CEO Martin Carlesund:

The third quarter of the year exhibited continued high demand and good growth. Revenue amounted to EUR 64.3 million, corresponding to an increase of 41 percent compared with the third quarter of 2017. EBITDA amounted to EUR 28.0 million with a margin of 43.5 percent. The margin was impacted by a faster-than-expected growth in the number of tables. We had approximately 500 tables live at the end of the quarter and we expect continued high expansion going forward. We further expect the margin to improve somewhat in the fourth quarter, while the full year number will be in the lower end of our earlier expectations.

The main milestone of the quarter was without doubt the launch of our state-of-the-art studio in Atlantic City, New Jersey; our tenth studio globally. Already from start, the studio serves several strong brands in the market with a broad portfolio of games and services. The response has been positive throughout, and the development of the offering has exceeded our expectations during the initial phase, which provides confidence for the future. However, the US market remains a long-term project, where New Jersey marks the start of a longer journey. The timetable for regulation in additional states is hard to predict; according to reports, Pennsylvania is next during 2019. Regardless of the timing, Evolution is now very well positioned to grasp the opportunities that will open up.

For our newly-opened studio in Georgia, we continue to see positive development with fast growth and a good pace in recruitment. Just as in New Jersey, we are only in the starting blocks and a lot remains to be accomplished. All in all, we can conclude that we have a year of high investment pace behind us, manifested by the said studios as well as our new studio in Canada. When we look upon 2019, we turn our focus to Malta where we evaluate the possibilities for further expansion, potentially via a new studio. All our international teams are located in Malta, and we see that demand for native-language services is increasing as more markets become regulated. In absolute numbers, the investment levels in 2019 will remain approximately on par with this year.

Looking at our markets in the quarter, we note that the Nordics and Rest of Europe continue to grow at the same pace as before. At the same time, the UK has developed slower as a consequence of operators still being in the process of adapting themselves to the latest regulatory requirements. Rest of World continues to exhibit high growth, and we believe it is very positive that our products appeal to players across the globe.

On the product side during the quarter, we have prepared for two new launches that will take place before year-end; a revised RNG suite and Infinite Blackjack, which is a Blackjack game with an unlimited number of players. To expand our portfolio and create new games that go beyond the expected remains a priority, and an important key to continue expanding our leadership in the market. After the end of the quarter, we gained additional proof of our products being in the absolute forefront, as our newly launched and very popular Lightning Roulette was awarded Product Innovation of the Year at the G2E exhibition in Las Vegas. It feels particularly good that the award targeted the best innovation in both the online and land-based categories.

With little more than 2 months of 2018 remaining, we can soon look back at a year that in many ways will be historic for Evolution; not least thanks to our expansion outside Europe. This year, we have also passed the 5,000-employee mark in the group, which is a great achievement. To find the right talents requires time and resources, and I am very proud of all the efforts that are being made in this area.

With all the above being said, Evolution continues on its course to strengthen its leadership in the market by providing the very best products and services that one may find. I, together with all our employees, look forward to our continued progress with confidence.


Source: Latest News on European Gaming Media Network

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BetConstruct secures ADM approval for Italian market

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BetConstruct made it to the licensing list of the Italian Agenzia Dogane Monopoli.

BetConstruct continuously expands its operations to the regulated markets. In 2018 they got licensed to provide gaming products of well-known MGA-Licensed casino providers, secured Remote Operating Licence from the UKGC for their Live Casino, got their Retail Solutions licensed in Romania. And the list of the achievements goes on.

Recently the Italian Gaming Regulator has published the name-list of the new licensees and Vivaro Limited, trading as BetConstruct, was featured there.

To help their partners to enlarge the coverage of their operations worldwide, the team at BetConstruct aims to further expand to such markets as the USA, Denmar, and Sweden.

 

About BetConstruct

BetConstruct is an award-winning developer and provider of online and land-based gaming solutions with development, sales and service centers around the globe.

BetConstruct’s innovative and proven offerings include an extensive range of products and services, including Sportsbook, Sports Data Solutions, Retail Solutions, RNG & Live Dealer Casino, VR Casino, Poker, Skill Games, Fantasy Sports, Social Platform and more. The latest addition is the industry-first complete management infrastructure, SpringBME (Business Management Environment).

All partners benefit from the BetConstruct Spring platform with its powerful back office tools and all-inclusive services that empower operators’ growth and help contain their costs. From stand-alone set up to turn-key and white label solutions, BetConstruct offers its partners unfettered opportunity to succeed.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BetConstruct secures ADM approval for Italian market

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Delaware igaming industry performs well in January

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Delaware igaming industry performs well in JanuaryReading Time: 1 minute

 

The Delaware Lottery’s financial results have shown that igaming performed robustly on the financial front in January 2019, by posting a 57.9 per cent increase in revenues year-on-year.

Revenue rose to $279,541 (£217,970/€247,999), showing a 11.2 per cent month-on-month from December last year.

Players wagered $7.4m across the state’s three licensed igaming sites in January 2019, which represented a 65.5 per cent year-on-year advance, but a 27.7 per cent fall from the $10.3m staked in December 2018. Players won a total of $7.2m during the month.

Video lottery accounted for $190,223.44 of total monthly revenue, a 68.0 per cent share, followed by table games, which contributed a further $66,982.14. Poker rake and fees, on the other hand, contributed just $22,335.51.

Player registrations also grew significantly in January, up 117.3 per cent to 578.

The majority of revenue was generated by Dover Downs, which saw its more than double from $48,215.61 in the prior year to $139,816.37, with 233 players registering to play over the month.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Delaware igaming industry performs well in January

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Move to privatise Holland Casino extended

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The move to privatise state-owned Holland Casino in the Netherlands has been postponed to 2020. The country’s justice minister Sander Dekker cancelled the vote for privatisation because of many objections that the measure suffered in the Senate.

The Financieele Dagblad said that senators are concerned about the fact that privatised casinos may encourage gambling and are worried about the way that the government was planning to proceed with the privatisation process, Dutch News informed.

The original plan included the selling of 10 of the 14 branches under the Holland Casino name, while the other four locations would be sold as a group. The cabinet from the Netherlands is also considering opening up the casino market to new providers and offer two licences.

Justice minister Dekker has until June to come up with a new proposal, present it to the senate and gain backing. “We may adapt the law, withdraw it altogether or go for a vote after all,” Dekker said in a note to senators.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Move to privatise Holland Casino extended

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