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Evolution Gaming: Interim report January-June 2019
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Evolution released today its Interim Report for January-June 2019.
Second quarter of 2019 (Q2 2018)
- Operating revenues increased by 45% to EUR 85.7 million (59.3)
- EBITDA increased by 63% to EUR 42.7 million (26.2), corresponding to a margin of 49.8% (44.2)
- Profit for the period amounted to EUR 34.5 million (20.1)
- Earnings per share amounted to EUR 0.19 (0.11)
January-June 2019 (1H 2018)
- Operating revenues increased by 49% to EUR 165.0 million (110.8)
- EBITDA increased by 63% to EUR 78.6 million (48.1), corresponding to a margin of 47.7% (43.4)
- Profit for the period amounted to EUR 63.1 million (36.7)
- Earnings per share amounted to EUR 0.35 (0.20)
Comments from CEO Martin Carlesund:
“Evolution’s strong development continues, and we can report continued high growth and further improved margin in the second quarter. 2019 is a year of product and innovation, and during the period, we have launched all this year’s new games. The response has been instant, and we are overwhelmed by the positive reception among both players and operators. Our aim in the development has been to create games that attract new player types and to expand the Live vertical into new segments, and so far, we are very happy with the outcome. All games, from the new titles within the Game Show category to the dice games, find their audiences and we see a significant increase in the number of players. The new games are not as staff intensive as the traditional table games, which in combination with a generally high efficiency in all studios contribute to the margin development. The extended portfolio also contributes to the revenue growth, but it is important to note that most of our revenues continue to derive from our core games and that the new games are still in an early stage post-launch. However, all new titles contribute to a generally higher interest in Live Casino and we believe that the Live vertical will continue to grow its share of the total online casino market. When the Live vertical grows, we take market shares – as do our customers with access to the new games.
Revenues amounted to EUR 85.7 million, which is 45 percent higher than the corresponding quarter last year. EBITDA amounted to EUR 42.7 million with a margin of 49.8 percent, which is the highest margin recorded so far in a single quarter. In the first half of the year, the margin was 47.7 percent, and we expect to be able to sustain this level in the second half as well which is why we increase our expected margin range to 47-49 percent for the 2019 full year.
The positive market development continues. The Nordics are growing, however at a somewhat slower pace as the Swedish market now is normalising following the intense start to the year as a result of the new gaming legislation. The UK continues to stabilise and is growing compared to the corresponding quarter last year. Both Rest of Europe and Rest of World also exhibit favourable growth.
Going forward, we will continue to invest in the development of both additional game shows and other innovative product types, as well as table games to meet the overall demand for Live. We also continue to invest in our studios. During the quarter, we have transferred the first tables to the new Malta studio, while also expanding the studio in Georgia. In addition, we have initiated a doubling of the capacity in New Jersey. We will also strengthen our presence in the US further and have started the planning for the construction of a studio in Pennsylvania. All in all, investments for the 2019 full year in absolute numbers will be somewhat higher than in 2018. It is imperative for us to meet the demand for Live, to continue to enable innovation within the company and to constantly increase the gap to competition. Connected to this, it is important to remember that in a case where we must prioritise, we will always put growth before margins.
During the first half of the year, we have laid the foundation for Evolution’s continued leadership in Live Casino. A proof of this was when we received the award as Live Casino Supplier of the Year for the tenth consecutive year at the EGR B2B Awards in June. The award goes straight to all our employees. I am immensely proud of everyone’s achievements so far this year, and the innovation power they possess creates confidence for the future.
Since Evolution’s inception, we have had a paranoid approach to our development, and given all achievements so far in 2019 I would like to conclude these comments by pointing out that we are never fully satisfied, we never sit back and each day, we fight to become a little bit better.”
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: Evolution Gaming: Interim report January-June 2019
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New Report Highlights Potential Impact of Increased Tax and Regulation on UK Betting and Gaming Market
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European countries with higher tax and regulation of their betting and gaming markets are more likely to see increased black market activity, according to a report produced by PwC and published by the BGC.
The study, Impact of the taxation and regulatory environment on European online betting and gaming markets, draws clear links between restrictive policy regimes across Europe and black-market growth.
Countries such as France (57% black market), Sweden (35%) and the Netherlands (37%) have seen large proportions of their gambling markets move offshore.
By contrast, Spain and Denmark, where tax rates are moderate and licensing systems open, maintain higher levels of onshore participation – with only around 11% of gambling taking place outside the regulated sector.
The report reveals that around 5% of all online betting and gaming in the UK now takes place on unlicensed black-market websites. This is equivalent to hundreds of millions of pounds in untaxed, unregulated activity and marks a sharp rise from a previous estimate in 2021, when the black market was thought to account for only 3.3% of total spend.
The report concludes that higher effective tax rates and tighter rules consistently lead to smaller regulated markets, while jurisdictions that liberalise and maintain balanced taxation enjoy stronger growth.
The findings also challenge the assumption that higher gambling duties increase public revenues. Between 2019 and 2024, countries with tax rates below 25% of gross gaming revenue saw annual growth in tax receipts of 13%, compared to 9% in higher-tax jurisdictions.
Operators facing steeper duties typically cut back on marketing and promotions, the analysis found, making licensed platforms less competitive.
The report shows how operators respond to higher regulatory and tax environments by adjusting gross win pricing, reducing bonuses and reducing spending. This makes the player proposition less attractive.
The findings come as the Treasury prepares its Autumn Budget and reportedly considers potential changes to remote betting and gaming duties.
While Britain remains among the world’s safest and most highly regulated gambling markets, the report demonstrates the potential impact of increasing taxes.
Grainne Hurst, CEO of the Betting and Gaming Council, said: “Britain has one of the safest gambling markets in Europe but if the Treasury isn’t careful, we could quickly end up like France or Sweden, with huge black markets contributing nothing in tax, offering zero player protection, and providing no funding for sport or the economy.
“Well-balanced regulation and fair taxes protect players, raise more revenue for the Treasury, and support thousands of jobs. Unlicensed operators do none of those things.”
The post New Report Highlights Potential Impact of Increased Tax and Regulation on UK Betting and Gaming Market appeared first on European Gaming Industry News.
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WorldMatch Partners with Solverde
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In a bold move set to redefine Portugal’s online gaming landscape, WorldMatch has partnered with Solverde.pt, taking the online casino experience to new heights.
Solverde.pt, the undisputed leader in Portugal’s online casino market, has been setting trends since 2017. Backed by over 50 years of expertise from the Solverde Group—known for its five iconic land-based casinos and hotels across the country—Solverde.pt offers players a thrilling blend of trust, innovation and an extensive gaming portfolio. Now, with WorldMatch joining forces, the stakes are higher than ever.
This partnership brings the best of both worlds: WorldMatch’s cutting-edge gaming technology and Solverde.pt’s unmatched market presence. Players can now enjoy WorldMatch’s rich catalog of slots, from thrilling themes to ground-breaking mechanics, on Solverde.pt. It’s the perfect combination of innovation and reliability, offering Portuguese players an immersive, next-level gaming experience.
“WorldMatch’s collaboration with Solverde.pt isn’t just another partnership—it’s a game changer. We’re bringing a world-class gaming experience to one of Portugal’s most trusted platforms. This partnership will not only elevate the online gaming scene but will also pave the way for future innovations in the industry,” said Gabriele De Lorenzi, Commercial Director at WorldMatch
“World Match’s reputation for high-quality, innovative games and features aligns perfectly with our commitment to offer the best games to our players. We look forward to bring their engaging content, further enhancing our portfolio within Portugal digital entertainment,” said Sérgio Pascoal, Head of R&D at Solverde.pt
Already recognized as the first Portuguese casino to introduce Crash Games in 2024, Solverde.pt continues to be a trendsetter in the market. With this partnership, WorldMatch strengthens its position as a global leader in iGaming, setting the stage for more thrilling releases and innovations to come.
The post WorldMatch Partners with Solverde appeared first on European Gaming Industry News.
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UniPin Accelerates Esports Growth Through Nationwide Campus Esports Championship in India, Expansion to 50+ Universities in 2026
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UniPin, the leading digital entertainment and esports enabler across Asia, had launched the UniPin Campus Championship India, a large-scale interuniversity esports tournament designed to unite and empower student gamers through competition, collaboration and community building.
Running from October to December 2025, the championship will bring offline esports tournaments to eight major cities: Mumbai, Pune, Delhi NCR, Bengaluru, Hyderabad, Kolkata, Ahmedabad and Lucknow. Winners from each campus qualifier will advance to the Grand Finale in January 2026, where they will compete for national recognition and esports glory.
The championship officially kicked off in Pune (MIT Pune, Oct 30) and Mumbai (NMIMS Mumbai, Oct 31). Both campuses recorded overwhelming enthusiasm from students eager to represent their universities, demonstrating the growing momentum of esports within India’s student communities. Packed audiences, spirited support and competitive gameplay marked a strong opening for the multi-city series.
“The UniPin Campus Championship India underscores UniPin’s ongoing commitment to cultivating the next generation of esports talent while strengthening a culture of collaboration, discipline, and sportsmanship among young players. As India’s gaming ecosystem continues to grow, we are proud to provide a platform that empowers students to showcase their skills, connect with the community, and pursue their passion at a competitive level,” said Paras Gupta, Manager of Esports, Community & KOL at UniPin India.
Expansion Vision: 2026 and Beyond
Building on the momentum of this inaugural championship, UniPin India is preparing an even larger nationwide initiative for 2026, with plans to reach more than 50 universities across India. The expansion aims to elevate intercampus esports into a mainstream student activity by integrating workshops on esports careers, community networking and developer engagement — not only fostering competition, but also building pathways into the gaming and digital entertainment industry.
This upcoming expansion signals UniPin’s long-term investment in India’s esports ecosystem and strengthens its commitment to making esports accessible, structured and sustainable at the grassroots level.
“This expansion is not just about growing the tournament footprint. By 2026, we aim to reach every major campus so they can have a thriving esports community supported by the right infrastructure, education, and exposure,” Paras added.
Through the UniPin Campus Championship, UniPin reinforces its mission to accelerate the growth of esports and digital entertainment in Asia by creating inclusive opportunities for young players to connect, compete and thrive.
The post UniPin Accelerates Esports Growth Through Nationwide Campus Esports Championship in India, Expansion to 50+ Universities in 2026 appeared first on European Gaming Industry News.
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