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Evolution – Interim Report Jan-Sept 2020
Third quarter of 2020 (Q3 2019)
- Operating revenues increased by 48% to EUR 140.0 million (94.7)
- EBITDA increased by 87% to EUR 90.7 million (48.5), corresponding to a margin of 64.8% (51.2)
- Profit for the period amounted to EUR 79.4 million (39.8)
- Earnings per share amounted to EUR 0.44 (0.22)
January-September 2020 (9M 2019)
- Operating revenues increased by 48% to EUR 383.5 million (259.0)
- EBITDA increased by 86% to EUR 235.9 million (127.1), corresponding to a margin of 61.5% (48.9)
- Profit for the period amounted to EUR 204.0 million (102.9)
- Earnings per share amounted to EUR 1.12 (0.57)
Summary of the third quarter and the first nine months of 2020
Comments from CEO Martin Carlesund:
I’m happy to report strong results for the quarter. Revenue amounted to EUR 140 million, an increase of 48 percent compared with the third quarter of 2019. EBITDA amounted to EUR 91 million with a margin of 64.8 percent. The past quarter has also been a period of exceptionally high activity operationally within Evolution and after the end of the quarter we are live with our first tables in both Pennsylvania, USA and Kaunas, Lithuania. We are still dealing with the limitations imposed by Covid but we are slowly coming back towards pre-Covid levels in number of tables.
Our new game show style game – Crazy Time – was launched globally on July 1st and has been a great success. Players enjoy the groundbreaking game format and possibility of big wins. It is our most successful game launch to date. Instant Roulette was also launched during the quarter and coming up in Q4 is the launch of Craps. We continue to build our portfolio of unique innovative games both within traditional table games as well as game shows.
Germany is on its way to be the next regulated market in Europe. Licenses for Online Casino, which includes Live Casino, and Online Slots, are planned to be issued from July 2021. Until then a transition will take place where some operators will not offer Live Casino. Revenue related to German players make up 5-10% of our current total revenues. While we expect a negative effect on our German revenue during the transition the effect on the Evolution group as a whole is limited. Long-term we view the move towards regulation in Germany as positive for Evolution.
We continue to stay focused on further strengthening our North American footprint and it makes me proud to say that we now are live in Pennsylvania. Also important for the North America expansion is that we, during the third quarter, have signed several new customers for the US market and more are to come. Regardless of the timing for regulation in additional states we know that Evolution is well positioned and that the US market is a long-term project with very high potential.
We experience high demand for our games all over the world and thus we continue to invest in additional studio capacity to meet the total demand. During this week we also launched the new medium sized Lithuanian studio. It has been our fastest and most efficient build so far. Together with the latest expansion in Tbilisi, the new build in Pennsylvania, expansion in Malta, expansion in New Jersey and the coming build in Michigan we look forward to a very hectic expansion in the coming period.
During the period we have also updated our corporate brand to Evolution. The new branding better reflects the diversity of our operations. In addition to our gaming offerings, we are also active within areas such as software development, technology innovation and state-of-the art broadcast studio design.
With increased studio capacity together with a continuous development of the very best products and services, we are well positioned to increase our market leadership within Live Casino going forward. During the fourth quarter we look forward to close the deal with NetEnt. We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe. As I said in the beginning of this report we have a hectic Q3 behind us and now we look forward to an even more hectic Q4. We will continue to work relentlessly on all fronts to continue to better every single day.
Wyzia, the pioneering Canadian online payment solutions provider for regulated markets, is celebrating the renewal of its highly successful ongoing partnership with Betty, Ontario’s premier online slots casino.
This partnership, which began in 2023, is key to Wyzia’s expansion across North America. It supports players of Betty, an online casino catering to female players whose business is supported by Wyzia’s innovative, secure, and robust payment management solutions.
Wyzia is at the forefront of Canada’s fintech landscape, pioneering seamless online payment solutions for regulated markets. Its innovative platform connects merchants directly to all Canadian financial institutions, simplifying transactions and empowering businesses with reliable, efficient financial tools.
“We’re thrilled to celebrate a year of working with Betty with the renewal of our agreement,” said Guy Fietz, Group CEO at Wyzia. “Our collaboration has not only expanded our reach but enhanced the payment experience for Betty’s growing community of players.
“We look forward to continuing this successful collaboration and driving further innovation in the online gaming industry.”
Betty is the only platform created specifically for Ontario slot players. In 2024, Betty has enjoyed unprecedented growth, with a tenfold increase in net revenue since January and over 1000% growth in active players across Ontario.
By fostering a fun, safe, and supportive environment, Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty focuses on transparency, community-based play, and gamification of the traditional slot experience.
This player-focused model has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.
Additionally, Betty automatically processes 99% of withdrawals, so players quickly receive their funds, a crucial benefit for online slot players.
“Our partnership with Wyzia has been instrumental in providing our players with a seamless, fast, and secure payment experience,” said Chavdar Dimitrov, Founder and CEO at Betty. “We are excited about the growth we’ve achieved together and are committed to delivering even better services to our community in the future.”
The post Wyzia Renews Canadian Partnership With Betty appeared first on Gaming and Gambling Industry in the Americas.
PopOK Gaming is making waves in the gaming world with the launch of two thrilling new titles in a single day: Eye on the Money—a collaboration with world-renowned street artist Alec Monopoly, and Avi—a high-flying crash game designed for adrenaline-fueled action. These dynamic releases showcase PopOK Gaming’s commitment to innovation, excitement, and engaging gameplay.
Eye on the Money: A Fusion of Art and High-Stakes Wins
PopOK Gaming is pleased to introduce Eye on the Money, a high-energy 3×5 slot with 25 paylines, featuring Alec Monopoly’s iconic graffiti-inspired style. This one-of-a-kind game blends luxury, art, and big wins, delivering a bold and vibrant slot experience.
Key Features That Keep You Spinning
– Wilds – Substitutes for regular symbols, helping players land bigger wins.
– Money & Jackpot Symbols – The Collect symbol gathers all Money and Jackpot symbols, boosting winnings.
-Free Spins – Unlock thrilling Free Spins with special reels packed with surprises.
– Super Game & Four Epic Jackpots – Enter the Super Game and pick from four jackpots for a chance at massive rewards!
With its bold artistic flair, engaging mechanics, and thrilling win potential, Eye on the Money is a must-play for slot enthusiasts and art lovers alike.
Avi: Get Ready to Fly PopOK Gaming’s Latest Crash Sensation!
Taking crash games to new heights, Avi offers an electrifying experience where timing is everything. Players place their bets, watch the multiplier rise, and must cash out before the crash to claim their winnings. With a 98% RTP and a 10,000x max multiplier, Avi delivers high-speed action and massive winning potential.
A Seamless and Immersive Experience
Sleek, modern interface for a smooth user experience.
Lightning-fast gameplay to keep players engaged.
Mobile-optimized design for seamless play on all devices.
Easy integration for operators, with full support from PopOK Gaming.
As crash games continue to dominate the market, Avi is set to become a player favorite, offering a thrilling mix of strategy, excitement, and high-stakes fun.
The post PopOK Announces Two Ground-Breaking Releases – Eye on the Money & Avi appeared first on European Gaming Industry News.
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Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments
Xanada Investments has introduced a new referral program, inviting industry professionals, entrepreneurs, and investors to participate in identifying high-potential startups. Through this initiative, those who successfully refer a startup that secures investment will receive 1% of the deal value, often translating into significant rewards from multi-million-dollar investments.
Participants can either submit a startup directly – ensuring the referred project mentions their name – or officially join the referral system by emailing [email protected]. Additionally, those who want to continuously recommend startups and act as official referral agents can reach out to discuss long-term collaboration opportunities.
Xanada Investments is actively seeking iGaming businesses with proven traction that are ready to scale, early-stage startups in the MVP phase preparing for launch, and industry professionals with solid business plans looking for strategic investment.
This referral program reinforces Xanada Investments’ mission to support the next generation of iGaming startups, ensuring that the best ideas reach the funding they need while recognizing and rewarding those who help make it happen.
Vladimir Malakchi, CEO & Managing Partner of Xanada Investments, commented on the launch: “We want to motivate the industry to take an active role in investment. By helping us connect with strong startups, participants not only support the fund but also benefit from the success of the projects they introduce. It’s a win-win for everyone – startups find the right investors, the fund discovers high-potential projects, and referrers are rewarded for their valuable connections.”
About Xanada Investments
Xanada Investments is an ideological investment fund led by industry visionaries, targeting PreSeed, Seed, and Series A funding of promising projects and their leaders who resonate with their ethos. The fund’s goal is to build an excellent xanadu-like business ecosystem, which will ideologically and strategically bond leaders into one community for the global idea of mutual prosperity.
The post Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments appeared first on European Gaming Industry News.
Wyzia Renews Canadian Partnership With Betty
PopOK Announces Two Ground-Breaking Releases – Eye on the Money & Avi
Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments
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