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Evolution Gaming Interim Report
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Evolution released today its Interim Report for January-September 2018.
Third quarter of 2018 (Q3 2017)
- Operating revenues increased by 41% to EUR 64.3 million (45.7)
- EBITDA increased by 28% to EUR 28.0 million (21.8), corresponding to a margin of 43.5% (47.7)
- Profit for the period amounted to EUR 21.2 million (16.8)
- Earnings per share amounted to EUR 0.59 (0.47)
January-September 2018 (9m 2017)
- Operating revenues increased by 37% to EUR 175.2 million (127.7)
- EBITDA increased by 31% to EUR 76.1 million (58.0), corresponding to a margin of 43.4% (45.5)
- Profit for the period amounted to EUR 57.9 million (44.1)
- Earnings per share amounted to EUR 1.61 (1.23)
Events during the third quarter of 2018
- Higher than expected growth in number of tables
- Launch of new studio in New Jersey
- Expansion in Malta during 2019
Summary of the third quarter and the first nine months of 2018
Comments from CEO Martin Carlesund:
The third quarter of the year exhibited continued high demand and good growth. Revenue amounted to EUR 64.3 million, corresponding to an increase of 41 percent compared with the third quarter of 2017. EBITDA amounted to EUR 28.0 million with a margin of 43.5 percent. The margin was impacted by a faster-than-expected growth in the number of tables. We had approximately 500 tables live at the end of the quarter and we expect continued high expansion going forward. We further expect the margin to improve somewhat in the fourth quarter, while the full year number will be in the lower end of our earlier expectations.
The main milestone of the quarter was without doubt the launch of our state-of-the-art studio in Atlantic City, New Jersey; our tenth studio globally. Already from start, the studio serves several strong brands in the market with a broad portfolio of games and services. The response has been positive throughout, and the development of the offering has exceeded our expectations during the initial phase, which provides confidence for the future. However, the US market remains a long-term project, where New Jersey marks the start of a longer journey. The timetable for regulation in additional states is hard to predict; according to reports, Pennsylvania is next during 2019. Regardless of the timing, Evolution is now very well positioned to grasp the opportunities that will open up.
For our newly-opened studio in Georgia, we continue to see positive development with fast growth and a good pace in recruitment. Just as in New Jersey, we are only in the starting blocks and a lot remains to be accomplished. All in all, we can conclude that we have a year of high investment pace behind us, manifested by the said studios as well as our new studio in Canada. When we look upon 2019, we turn our focus to Malta where we evaluate the possibilities for further expansion, potentially via a new studio. All our international teams are located in Malta, and we see that demand for native-language services is increasing as more markets become regulated. In absolute numbers, the investment levels in 2019 will remain approximately on par with this year.
Looking at our markets in the quarter, we note that the Nordics and Rest of Europe continue to grow at the same pace as before. At the same time, the UK has developed slower as a consequence of operators still being in the process of adapting themselves to the latest regulatory requirements. Rest of World continues to exhibit high growth, and we believe it is very positive that our products appeal to players across the globe.
On the product side during the quarter, we have prepared for two new launches that will take place before year-end; a revised RNG suite and Infinite Blackjack, which is a Blackjack game with an unlimited number of players. To expand our portfolio and create new games that go beyond the expected remains a priority, and an important key to continue expanding our leadership in the market. After the end of the quarter, we gained additional proof of our products being in the absolute forefront, as our newly launched and very popular Lightning Roulette was awarded Product Innovation of the Year at the G2E exhibition in Las Vegas. It feels particularly good that the award targeted the best innovation in both the online and land-based categories.
With little more than 2 months of 2018 remaining, we can soon look back at a year that in many ways will be historic for Evolution; not least thanks to our expansion outside Europe. This year, we have also passed the 5,000-employee mark in the group, which is a great achievement. To find the right talents requires time and resources, and I am very proud of all the efforts that are being made in this area.
With all the above being said, Evolution continues on its course to strengthen its leadership in the market by providing the very best products and services that one may find. I, together with all our employees, look forward to our continued progress with confidence.
Source: Latest News on European Gaming Media Network
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The Gambling Regulatory Authority of Ireland (GRAI) has published its Statement of Strategy for 2025 to 2027, setting out its strategic priorities over the next three years as it establishes a robust regulatory and licensing regime for the gambling sector and delivers on its public protection mandate.
Established on a statutory basis in March 2025, the Gambling Regulation Act 2024 sets out the framework and legislative basis for the GRAI which will operate as an independent, self-financing regulator under the remit of the Department of Justice, Home Affairs and Migration.
Minister Jim O’Callaghan TD, Minister for Justice, Home Affairs and Migration launched the new Strategy alongside Mr Paul Quinn, Chair of the Authority, and Anne Marie Caulfield, CEO of the GRAI.
The Statement of Strategy sets out the GRAI’s priorities over the next three years with particular focus on six functional areas with related strategic goals reflecting the GRAI’s legislative mandate:
• Licensing
• Monitoring and Compliance
• Enforcement
• Consumer Protection and Awareness
• People, Organisation, and Governance
• Digital First
Each goal is supported by objectives and deliverables which will guide the GRAI’s progress through to 2027.
Jim O’Callaghan TD, Minister for Justice, Home Affairs Migration, said: “I commend the Gambling Regulatory Authority of Ireland on the publication of its first Statement of Strategy, which is an important milestone for the Authority, the gambling sector in Ireland and for the wider public.
“This strategy is not just about regulation; it is about educating the public, protecting those vulnerable to gambling harm, and ensuring that the industry operates to the highest standards of integrity and social responsibility. As Minister for Justice, Home Affairs and Migration I am committed to supporting the Authority in delivering on its mandate.”
Paul Quinn, Chairperson of the GRAI, said: “As a newly established independent regulator, we have been entrusted with a vital public mandate: to ensure that gambling in Ireland is conducted in a safe, fair, and transparent manner, with the interests of individuals, families, and the wider community at its heart.
“Our work is grounded in the principles of prevention, protection, and evidence-based regulation. This Statement of Strategy sets out the roadmap to delivering a modern, fair, and trusted regulatory regime that reflects the constantly evolving nature of gambling and the expectations of the Irish public.
“Establishing the new licensing arrangements, compliance management, and enforcement functions during the term of this Strategy is central to reducing the likelihood of gambling harms and will underpin a well-regulated gambling market in Ireland.”
Anne Marie Caulfield, CEO of the GRAI, said: “The Statement of Strategy outlines the vision, mission, and values of the Regulator through to 2027. Each goal within the Strategy outlines a thorough approach to our main functions, from building a robust licensing regime that will ensure operators are consistently adhering to standards to supporting research and educational initiatives that enhance our capabilities as a Regulator.
“The GRAI’s Statement of Strategy 2025 – 2027 has been approved by the Minister for Justice, Home Affairs and Migration and we look forward to achieving our strategic goals together.”
The post GRAI Publishes 2025-2027 Strategy Statement appeared first on European Gaming Industry News.
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The National Lotteries and Gaming Regulatory Board Uganda (NLGRB) intensified its nationwide crackdown on illegal gaming operations, seizing over 80 unauthorised gaming machines in Mbarara and Ibanda cities under its operation name “Mashine Haramu.”
According to the NLGRB Operations Manager, Mr. Steven Tabaruka, more than 6000 illegal gaming machines have so far been impounded across Uganda as part of the ongoing enforcement operation.
The operation targets unregulated gaming operators, suppliers, and manufacturers that exploit unsuspecting Ugandans and undermine the integrity of the industry.
Mr. Tabaruka said that the Board’s goal is to protect Ugandans by eliminating illegal gaming activities and promoting responsible gaming. He encouraged individuals in the gaming business to reach out to the NLGRB offices in Mbarara or the head office in Kampala to regularise their operations.
The National Lotteries and Gaming Regulatory Board continues to urge the public to report suspicious or illegal gaming activities as part of efforts to ensure a safe and regulated gaming environment for all.
The post NLGRB Intensifies Nationwide Crackdown on Illegal Gaming Operations appeared first on European Gaming Industry News.
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The Australian Communications and Media Authority (ACMA) has requested the Australian internet service providers (ISPs) to block more illegal online gambling sites, after investigations found these services to be operating in breach of the Interactive Gambling Act 2001.
The latest sites blocked include Crown Gold, Maxispin Casino, Rain.gg, Didibet, LuckyBet, Malina Casino and Spins of Glory.
Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 1338 illegal gambling and affiliate websites have been blocked. Around 220 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal online gambling rules in 2017.
The post ACMA Blocks More Illegal Online Gambling Sites appeared first on European Gaming Industry News.
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