Industry News
Evolution Gaming – INTERIM REPORT FOR JANUARY-MARCH 2020
Evolution released its Interim Report for January-March 2020.
First quarter of 2020 (Q1 2019)
- Operating revenues increased by 45% to EUR 115.1 million (79.3)
- EBITDA increased by 79% to EUR 64.1 million (35.9), corresponding to a margin of 55.7% (45.3)
- Profit for the period amounted to EUR 54.2 million (28.6)
- Earnings per share before dilution amounted to EUR 0.30 (0.16)
Events during the first quarter of 2020
- Continued high demand generates a positive effect on margin development.
- Adaptation of operations as a result of covid-19 to ensure the operation and safety of employees.
- Repurchase of 338,000 shares in order to improve the capital structure by reducing the capital, and thereby creating added shareholder value.
Summary of the first quarter 2020
Comments from Group CEO Martin Carlesund:
“The spread of COVID-19 has put the world in an exceptional and challenging situation which has also meant operational trials for Evolution. So far, we have handled the situation in a good way, and financially, Evolution has started 2020 very strongly in terms of both growth and profitability.
Revenues for the first quarter amounted to EUR 115 million, an increase of 45 percent compared to the first quarter of 2019. EBITDA amounted to EUR 64 million with a margin of 55.7 percent. With a good financial start to the year, great confidence ahead of the upcoming product launches and a good momentum at the start of the second quarter, I am more certain of our objective for 2020 to improve the margin level compared to 2019. Together, all employees did a fantastic job during the first quarter. I am deeply grateful for the energy and determination with which we have taken up the challenge – we have step-by-step, methodically moved forward every day. Of course, this work continues as we work to stay ahead of the developing situation. Our main priorities in dealing with the COVID-19 situation are to minimize the risk of spreading the virus and to create a safe workplace for our employees as well as to maintain the operation for our operators. We continue to comply with all the requirements from the authorities in the countries we operate in, and in many cases we have taken more far-reaching initiatives. Thanks to the extensive measures that have been implemented in terms of social distancing, changed working processes and routines for our employees, our operations have been able to continue without any large negative effects. However, in several of our studios, we operate with fewer tables compared to normal, and our studios in Georgia and Spain have been temporarily closed during limited periods. During these periods, a large share of the traffic has been managed by the company’s other studios. To be a global company with sites across multiple territories has been an important factor during these times. With that said, our studios in Latvia and Malta are important hubs from which several of our most popular titles are broadcasted.
We have seen an increased and strong demand for our products all through the first quarter. During the end of the quarter the absence of sporting betting games likely also favoured growth in our products. This circumstance effects also the start of the second quarter and we now see many new players being introduced to the Live segment. All in all, this means that we have a very good start to the year so far, but there will be also continuous challenges as we have not seen the end of the development of COVID-19 yet.
We continue unabated with investments in both studios and new games. During ICE in London earlier this year, 12 new titles were announced, of which two went live during the first quarter; Speed Blackjack and Lightning Baccarat. Today, 23 April, we are launching Mega Ball – including a First Person version. Mega Ball is our first game in the lottery vertical. During its beta phase, the game has exhibited a high attraction and it will be interesting to follow the games development. In addition, we will extend our First Person portfolio with three more launching in the second quarter. Another two table games will also be launched during the quarter, Power Blackjack and Baccarat Multiplay.
The construction of our new studio in Pennsylvania continues but with a postponed timetable due to the COVID-19 situation. However, our aim to launch it before year-end remains. Michigan has accelerated its casino regulation process and we hope that the state soon will be the third regulated market in the US. In South Africa we have received a National Manufacturer license. The license means that Evolution now is able to offer its and the subsidiary Ezugi’s products to all licensed gaming operators in South Africa.
To conclude, I am proud of how we have started off the year from a financial perspective, but even prouder of how we have handled these difficult times from an operational standpoint. All employees have showed that they are fast-paced, flexible and that even in hard circumstances they are able to maintain their focus on our given path; to continue to increase the gap to the competition and to strengthen our leading position.”
After five years as Dutch Online Gambling Association (NOGA) Director, Peter-Paul de Goeij has stepped down from his role.
Eric Konings, involved with NOGA since 2022, will be appointed as interim director. He will now hope to utlise his company knowledge and previous experience to steer the company through this transitional period. Further, Konings will be supported in the process of change by former Staatsloterij (State Lottery) CEO, Frans van Steenis.
“We are very grateful to Peter-Paul for his efforts over the past 5 years, in which he has excellently shaped the transformation from SpeelVerantwoord to NOGA. As a result, NOGA has been able to properly represent the interests of its members in a tumultuous period for the industry. We are confident that this line will be continued under Eric as interim director. However, we do not expect the coming period to be any less turbulent. That is why we as a board have decided to initiate the strategic reorientation,” Remko de Boer, chairman of the board of directors of NOGA, said.
“The past few years have been hectic, with the opening of the Dutch online gambling market as the absolute highlight. I am now stepping down, but I am convinced that the sector will continue to strive for a safe and responsible gaming offer. That is and remains the best way to achieve optimal consumer protection. I thank the board of NOGA for the trust they have placed in me over the past five years and I hand over the baton to Eric with a clear conscience,” Peter-Paul de Goeij said.
“The industry is facing a number of major challenges in the current political and social climate, and I look forward to helping NOGA members with this. In addition, NOGA is explicitly exploring how the representation of the industry’s interests can be organised in a future-proof manner. I am pleased that Frans van Steenis is fulfilling the role of explorer to shape this process with me,” Eric Konings said.
“A lot is happening in the gambling sector at the moment. Licensed providers, policy makers and society benefit from more clarity and better cooperation. I want to explore how bridges can be built between all parties involved in the gambling dossier,” Van Steenis said.
The post Peter-Paul de Goeij Steps Down as Director of NOGA appeared first on European Gaming Industry News.
SmartSoft, the pioneering the first-ever crash game creator, was founded in Georgia in 2015 by industry enthusiasts. Dedicated to delivering high-quality gaming experiences globally, SmartSoft remains committed to not only creating games but also revolutionizing the industry itself. The hallmark lies in it’s continuous creation of new games, updating of old favorites and coming up with the features that make every gaming experience unforgettable.
What’s more, SmartSoft’s commitment to innovation goes beyond just game mechanics. The company also prioritizes engaging storytelling, stunning visuals, and captivating sounds to create truly memorable gaming experiences. This complex approach not only sets SmartSoft apart from its competitors but also underscores its mission to deliver unparalleled entertainment to gamers worldwide.
Let’s take a look below at Smartsoft’s work, old gems, new features and pushed boundaries:
The Evolution Continues, expending horizons
As pioneers of non-traditional casino games, flagship game “Jet X”, launched in 2018, marked a breakthrough in the genre and continues to lead the transformation of non-traditional games into mainstream casino offerings. “Jet X” has become the most popular game for SmartSoft, but mission doesn’t end there. Along with “Jet X”, SmartSoft have released numerous innovative games within a year. These games are distinctive in their mechanics and visuals, reflecting company’s commitment to continuous innovation through creativity and passion.
The latest innovation, a visual symphony known as “Helicopter X”, has been captivating users since November 2023. The groundbreaking Crash game designed to revolutionize the online casino landscape. This game combines innovative gameplay mechanics with stunning visual and auditory elements, offering players challenges and multiple strategic options. In “Helicopter X,” players control a helicopter, aiming to cash out before a crash occurs. The game features the Diamond Feature, which randomly boosts multipliers, adding excitement to every round. With it’s fascinating features and results “Helicopter X” offers high stakes and high rewards.
One more gem from SmartSoft – “Mine Island” presents an innovative and exhilarating addition to the online casino world. Since the release in December, this innovative game blends simplicity with excitement, making it accessible to both novice and experienced players. Its 10-stage progression system introduces a unique twist to traditional minefield games, allowing players to strategically decide when to collect winnings or risk progressing for higher multipliers, thus enhancing the gaming experience. The game offers substantial rewards and a compelling risk-reward dynamic. The intuitive gameplay, combined with strategic depth, ensures that “Mine
Island” stands out in the crowded casino market. Visually stunning design and user-friendly interface reflects a deep understanding of player preferences and behaviors.
“Crash Duel X” is an adrenaline-pumping world where strategic betting meets thrilling gameplay, achieving more success daily since launching in December of 2023. SmartSoft Gaming invites you to experience the rush of Crash games with an unparalleled gaming experience, with its diverse betting strategies and exciting features. As the first game on the market to introduce Crash Side Bets, “Crash Duel X” revolutionizes the traditional Crash game mechanics by integrating the best practices from online casino games with side bonus bet features. This innovative approach provides players with multiple strategic options, enhancing the overall gaming experience.
This is just a glimpse into SmartSoft’s ongoing commitment to innovation. Smartsoft, together with its team of professionals, continues to work actively, generating ideas and creating stunning visuals to deliver only the best products to its partners. Stay tuned for more groundbreaking developments and innovative solutions from SmartSoft.
The post SmartSoft Keeps Crafting Innovations appeared first on European Gaming Industry News.
The National Indian Gaming Commission (NIGC) released fiscal year 2023 Gross Gaming Revenue numbers totaling $41.9 billion, an increase of $1 billion, or 2.4%, from the historic FY 2022 GGR of $40.9 billion.
Acting Chairwoman Sharon M. Avery and Vice Chair Jeannie Hovland made the announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wis.
This year’s revenue reflects the viability of tribal gaming operations, as tribal gaming continues to adapt to technological advances and changes in consumer preferences. All eight NIGC regions demonstrated growth in gaming revenue since the last GGR report.
“This year’s GGR results demonstrate how a strong regulatory framework and diversity of tribal gaming enterprises generates growth in the gaming industry. Again, this year, tribal gaming operators and regulators have proven that their ingenuity and tenacity are catalysts for growth, even in the face of an ever-changing gaming landscape. This steadfastness will ensure that tribal gaming remains a valuable resource for continued economic sustainability in tribal communities,” said Avery.
“I congratulate the industry regulators, operators, and tribal leadership on another successful year. Their hard work in meeting and overcoming the challenges presented by an increasingly competitive market is evidence that tribes are resilient, and their gaming expertise is yielding benefits for their nations as IGRA intended,” said Hovland.
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