Evolution Gaming Reported 38% Revenue Growth in 2018

Evolution Gaming, which was recently awarded at the Global Gaming Awards, has released its official year-end report for 2018.

Chief Executive Officer, Martin Carlesund, said that 2018 for the supplier was “yet another amazing year” in the history of the brand…

…since the revenue grew 38% in the past year.

The Numbers

Looking back at the past 12 months, ending with December 31, 2018, the yearly revenue rose to €245.5 million ($276.6 million). This massive leap can be attributed to an increased commission from new and existing customers…

…as well as from growth in dedicated tables and live dealer environments.

Evolution had the most work in the UK, since it was the company’s largest market in 2018 that collected 17% of the entire revenue.

A really small percentage of around 9% came from the Nordic region, while the major part (52%) came from the rest of the European market. The US revenue was up 2% this year and came to 22% of the collective revenue.

Around 33% of group revenue in the past year came from regulated markets and 59% from mobile.

Staff Expenses

Although the company saw amazing revenue growth in 2018, the costs also grew. Because of the staff expenses, they increased 38% from €97.9 million to €156 million…

…since Evolution employed 5847 staff in 2018 (comparing to 4014 in 2017).

But, not only staff expenses affected the growth in costs. The company launched new New Jersey, the European country of Georgia and Canadian province, British Columbia.

Evolution Gaming Growth

In 2018, the operator had a 34% year-on-year rise in profit coming to €89.3 million…

…together with the post-tax profit rising 34% to €83.5 million.

In Q4, the company’s revenue saw a 38% year-on-year rise at €70.2 million, because of the high demand for live dealer games during that period. Bet spots from end s grew from 2.8 billion in Q4 of 2017 to 4.4 billion during the same period in 2018.

The numbers went up tremendously because of the brand’s expansion in the US via DraftKings and also because of the new deal it signed with Loto-Québec.

A Word from the CEO

“All in all, we can look back at yet another amazing year in the Evolution history with expansion outside Europe and many successes in innovation and created customer value,” Evolution Gaming CEO, Martin Carlesund said in an official report.

The company plans to expand in Malta during 2019 and build a second studio, while also releasing new games to meet ever-growing market demands.

“With a new studio in Malta and all games that will be launched, I am confident that we are in excellent shape to continue increasing our market leadership going forward. In that context, we can also conclude that the first quarter has been off to a good start,” Carlesund added.

Source:

“Evolution revenue grows 38% in 2018”, igamingbusiness.com, February 14, 2019.