Evolution Gaming, one of the world’s leading gaming corporations with specialist products in live casino, has today provided an update on its business operations for the first half of 2020, which has shown a revenue increase and very high demand in part due to the lack of sports betting facilities during the Covid-19 pandemic.
Overall, the firm experienced operating revenues of more than 240 million Euro, an increase of almost 50% on the previous year, profit of more than 120 million Euro, up from 63 million last year and earnings per share have almost doubled to 0.69 Euro.
Evolution Gaming has shown strong development so far this year despite the unprecedented times and the second quarter of 2020 saw the game developer launch a number of gambling products and very high demand due to the absence of major sporting events.
In addition, as the firm continues to strive for more, it announced a possible take-over of gaming giant NetEnt, with the aim of expanding its content offering, particularly in the slots industry and become a leading provider of online casinos on the global stage.
Such acquisition would mean that Evolution Gaming can accelerate the pace of its vision over the next few years and adding leading slots games from NetEnt to its portfolio combined with an already strong live casino product would create a very strong position for Evolution in the gaming market, especially in the United States.
Martin Carlesund of Evolution Gaming shared comments on the interim report update:
“During 2020, Evolution has continued and strengthened its focus on products and innovation. Our ability to develop new unique games while at the same time creating new variants of traditional games is important to further strengthen our leading position in Live Casino.
So far, we have launched 8 out of the 12 games that we will launch this year. After the end of the quarter, we launched another one – Crazy Time – which is the most expensive and time-consuming game that we have developed to date. The reactions were instant, and we are overwhelmed by the positive reception among both players and operators.”
Carlesund continued with comments on the expansion of its live casino offering:
“All new titles, especially in the Game Show category, contribute to a generally higher interest in Live Casino. To meet the increasing demand, it is vital that we continue to expand our studio capacity. Our Pennsylvania studio will be our 9th studio. Upcoming additions include a studio in Michigan and an English speaking studio in Lithuania.”
US expansion plans
“During the quarter we signed an agreement with Golden Nugget that will see Evolution’s US Live Casino services to be added to their existing online offering in New Jersey. The agreement consolidates Evolution’s leading position in New Jersey, while also providing a strategic platform to explore additional opportunities together with Golden Nugget in other states as the regulation of online casino in the USA continues.”
Carlesund concluded by passing comment on the recent Covid-19 pandemic and how the firm is looking forward to the rest of the year and 2021:
“It has been an intense first half of the year impacted by Covid-19, which has entailed here-and-now problem solving. Since a few months back, we have a more stable virus situation and we have been able to devote more time to look forward while also preparing Evolution for a possible future second wave or similar pandemics.
We are now working intensively with next year’s product launches and how Evolution will play a role in the continued digitalisation of the casino industry.
I believe that our focus on the best game experiences and a relentless approach to always improve as a company will continue to be important pieces as we move ahead. We shall become slightly better each day, and every day shall take Evolution another step forward.”