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Evolution Gaming Reports Positive H1 2020 Results
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Evolution Gaming has reported positive H1 2020 results. The company’s operating revenue increased 48% year-on-year to €243.5 million during H1.
EBITDA also increased by 85% to €145.3 million, corresponding to a margin of 59.7% (47,7), while profit for the period amounted to €124,6 million (63,1) and earnings per share amounted to €0.69 (0.35).
During the second quarter, operating revenues increased by 50% to €128.3 million (85,7), EBITDA increased by 90% to €81,1 million (42,7), corresponding to a margin of 63,2% (49,8). Profit for the period amounted to €70,4 million (34,5) and earnings per share amounted to €0.39 (0.19).
Evolution CEO Martin Carlesund said: “The strong development for Evolution continued during the second quarter. The quarter has been eventful with several product launches and a very high demand, partly due to the lack of sports betting games through a large part of the period, but we also see strong underlying growth. At the end of June, we announced a recommended offer to the shareholders of NetEnt with the aim to expand Evolution’s offering with market-leading slots and to continue towards our vision to become the global leading provider of online casino.
“Revenues for the second quarter amounted to EUR 128.3 million (85.7), an increase of 50 percent compared to the corresponding period last year. EBITDA amounted to EUR 81.1 (42.7) with a margin of 63 percent. The margin has been positively affected by high demand and that we have operated fewer tables due to the pandemic. However, the lower number of tables has had a negative effect on revenue both through lower fees from our dedicated environments and through lower capacity than normal. For the January-June period, the margin was 60 percent, meaning we have a good distance to our previous prediction of improving the margin level this year compared to 2019.
“Evolution’s vision is to become the leading B2B provider in online casino. An acquisition of NetEnt means that we can accelerate the pace towards this vision. To add NetEnt’s leading slots to Evolution’s strong Live Casino offering will create a very strong market position significantly faster, especially in the USA, and together with clear synergies we believe this to be a strategic and highly attractive acquisition. A future Evolution with two verticals as the foundation will increase cash flow and reduce risk, while the growth potential increases. The bid process continues according to the previously announced time schedule.
“During 2020, Evolution has continued and strengthened its focus on products and innovation. Our ability to develop new unique games while at the same time creating new variants of traditional games is important to further strengthen our leading position in Live Casino. So far, we have launched 8 out of the 12 games that we will launch this year. After the end of the quarter, we launched another one – Crazy Time – which is the most expensive and time-consuming game that we have developed to date. The reactions were instant, and we are overwhelmed by the positive reception among both players and operators.
“All new titles, especially in the Game Show category, contribute to a generally higher interest in Live Casino. To meet the increasing demand, it is vital that we continue to expand our studio capacity. Our Pennsylvania studio will be our 9th studio. Upcoming additions include a studio in Michigan and an English speaking studio in Lithuania.
“During the quarter we signed an agreement with Golden Nugget that will see Evolution’s US Live Casino services to be added to their existing online offering in New Jersey. The agreement consolidates Evolution’s leading position in New Jersey, while also providing a strategic platform to explore additional opportunities together with Golden Nugget in other states as the regulation of online casino in the USA continues.
“It has been an intense first half of the year impacted by Covid-19, which has entailed here-and-now problem solving. Since a few months back, we have a more stable virus situation and we have been able to devote more time to look forward while also preparing Evolution for a possible future second wave or similar pandemics. We are now working intensively with next year’s product launches and how Evolution will play a role in the continued digitalisation of the casino industry. I believe that our focus on the best game experiences and a relentless approach to always improve as a company will continue to be important pieces as we move ahead. We shall become slightly better each day, and every day shall take Evolution another step forward.”
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 Reports Positive H1 2020 Results
DigitalEjis, the pioneering software development company in responsible gaming, and Exalogic, Italy’s premier gambling platform provider, have joined forces in an exciting partnership.
This collaboration marks a significant milestone in the Italian gaming landscape when it comes to upgrading responsible gambling practices and addiction prevention.
Predictive Software for Safer Gaming
DigitalEjis has developed an unparalleled software solution that predicts the onset of gambling addiction before a player places their first bet. Unlike existing tools that identify addiction once compulsive behavior is already underway, DigitalEjis’ predictive software enables operators to customize the betting experience for each customer from day one. By doing so, operators can offer their players the safest and most entertaining environment possible.
Exalogic’s Role in the Partnership
Exalogic, renowned for its robust and reliable gambling platform, has chosen DigitalEjis as their only partner for predictive and antiaddiction product. This strategic alliance ensures that responsible gaming practices become an integral part of the Italian gambling landscape.
Embracing the Italian Market
Dr. Ian McLoughlin, Founder and CEO of DigitalEjis, expressed his enthusiasm: “It’s great to see how wholeheartedly the Italian market has embraced DigitalEjis through this agreement with Italy’s number one platform provider and value-added services partner to the gambling industry.” This collaboration positions DigitalEjis as a first mover in the Italian territory.
Responsible Gambling at the Core
Italy’s new decree on gambling, particularly Article 14, underscores the importance of responsible gaming. The Decree focuses on protecting players from the onset of gambling addiction also adopting software empowered by Artificial Intelligence. DigitalEjis’ product aligns perfectly with this initiative, providing accurate predictions and personalized protection for players.
The post DigitalEjis and Exalogic: Pioneering Responsible Gaming in Italy appeared first on European Gaming Industry News.
A 60-year-old welder has netted $69,850, following three consecutive victories at WinSpirit Casino.
“I’ve had some fantastic wins. The best ones were $26,550 and $25,300 during the bonus game,” the man shared.
The lucky winner, who decided to remain anonymous, caught luck by the tail in the Diamonds Power: Hold & Win slot.
“When I play, I follow a strategy. I start with bets of $5-10 and increase them after a few wins,” he said.
Following a string of consecutive wins, the man reached a $50 bet, which ultimately led to his coveted winnings.
“$50 spins go through my finds quickly, but if you get the bonus, the payoff is unbelievable,” the man added.
Diamonds Power: Hold & Win is a 3×3 slot by Playson featuring four fixed jackpots and a unique Hold & Win feature. The game offers a maximum win of 5,150 times the initial bet per round.
To celebrate his success, the man decided to dine at a local casino restaurant with his wife, with whom he had shared 27 years of marriage
“During dinner, we came up with the idea to test my winning strategy again, so we opened the familiar WinSpirit page on my phone,” he laughed.
The fortunate player stumbled upon WinSpirit Casino accidentally while searching for an online platform to enjoy slot games.
“During my search, I tried a few online casinos. But WinSpirit stood out for its ease of use and quick verification process,” he said.
The casino offers its new players a 100% bonus up to 200 USD+ 100 Free Spins and a 200% bonus up to 200 USD on their first and second deposits respectively.
The man also noted that the main reason he plays at the casino is to have fun.
“I play for fun. And big wins… They are like a pleasant bonus that you get while enjoying your pastime.”
The self-employed welder is living a peaceful life, enjoying outdoor activities like fishing, hunting, camping, and motocross biking.
The post Welder racks up over $69,000 from three back-to-back online casino wins appeared first on European Gaming Industry News.
Latest News
Skyesports Championship 2024: Counter-Strike 2 unveiled with $200,000 Prize Pool, Global Teams, and LAN in India.
Skyesports, a premier global IP builder for gaming and esports, has announced the return of its longest-running esports IP, the Skyesports Championship, for its sixth edition in 2024. The Counter-Strike 2 esports tournament in the Skyesports Championship 2024 will feature an impressive prize pool of $200,000.
Teams from around the world will converge in India for an intense on-ground event to compete for the prestigious title. The Skyesports Championship 2024: Counter-Strike 2 Main Event is set to happen from July 23 to 28 in India with eight teams competing for the title. Five of these will be directly invited while two will secure their slots through the Europe and India Qualifiers, respectively. The final slot is reserved for the champions of the previous Skyesports Counter-Strike 2 tournament, the Skyesports Masters 2024.
The list of teams is as follows:
● Aurora Gaming: Serbia (Skyesports Masters 2024 champions)
● Mongolz: Mongolia
● BetBoom: Russia
● Eternal Fire: Turkey
● Furia Esports: Brazil
● TBD (5th invited team will be announced at a later date)
● EU Qualifier Champion: TBD
● India Qualifier Champion: TBD
Commenting on the Skyesports Championship 2024 Counter-Strike 2, Shiva Nandy, Founder and CEO, Skyesports, said, “The Skyesports Championship has been our premium IP which was founded in 2018 as a regional esports tournament in Chennai. Now, after five continuous editions, the tournament is back for its sixth year and is bigger than ever featuring the top teams from around the world in the Counter-Strike 2 esports tournament. Due to unfortunate circumstances, we couldn’t host the Skyesports Masters as a LAN in India. This time, however,we are thrilled to bring some of the world’s most distinguished Counter-Strike 2 teams to the Skyesports Championship 2024 Main Event.
Details for the India and Europe Qualifiers will be announced soon. The Skyesports Championship 2024 is the third tournament in the Skyesports $1 million Counter-Strike 2 esports roadmap. Earlier this year, Skyesports successfully hosted the Skyesports Grand Slam in Pune, India, and the Skyesports Masters.
Furthermore, the Skyesports Championship 2024 is a multi-game esports IP. Besides the Counter-Strike 2 tournament, the IP will feature several other gaming titles catering to different gaming communities. These will be announced at a later date.
The post Skyesports Championship 2024: Counter-Strike 2 unveiled with $200,000 Prize Pool, Global Teams, and LAN in India. appeared first on European Gaming Industry News.
DigitalEjis and Exalogic: Pioneering Responsible Gaming in Italy
Welder racks up over $69,000 from three back-to-back online casino wins
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