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Evolution – Interim Report Jan-Sept 2020

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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.

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 – Interim Report Jan-Sept 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Aviatrix gains final approval in Spain ahead of launch

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The multi-award-winning crash game Aviatrix has received final approval from the Spanish regulator ahead of a full launch in the country.

The approval (homologation) from Spain’s Dirección General de Ordenación del Juego (DGOJ) means that any licensed operator in the country can now integrate Aviatrix, either via an aggregator or directly.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We’re proud to announce that Aviatrix is ready to take flight in Spain in 2025. This is a market we’ve been watching closely for a long time, and we’ve worked really hard to make sure we can offer our game to operators in the easiest way possible. We look forward to building many great, mutually beneficial partnerships in Spain over the coming months.”

The Aviatrix team will be touching down in Spain in January for ICE Barcelona 2025. To find out more about adding the game to your Spanish-licensed operator, drop by stand 2E30.

Aviatrix has significantly increased its regulator footprint around the world over the last 12 months, gaining licences or certifications in major markets, including Sweden, Italy, the Netherlands, Colombia, Ontario and many more.

The post Aviatrix gains final approval in Spain ahead of launch appeared first on European Gaming Industry News.

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BOOMING GAMES EXPANDS IN WEST AFRICA WITH CHOPBET PARTNERSHIP

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Booming Games is excited to reveal its new partnership with ChopBet, a premier operator in Africa.

Established in 2024, ChopBet strives to become Africa’s premier sports entertainment provider. With a clear focus on engaging the continent’s youth, the company offers top-notch sports entertainment products, prioritizing trust and exceptional customer service. Booming Games’ partnership highlights ChopBet’s dedication to delivering high-quality content and creating immersive gaming experiences across Africa. ChopBet Players can now experience world-class gaming right from the comfort of their homes.

Solomon Godwin, Head of Africa at Booming Games, said: “We’re delighted to continue our expansion in African markets, and Chopbet’s strong and trusted brand will only enhance this. Our provision is as wide-ranging as high-quality, and we believe we can offer real value to African players.”

Mr Eazi, Founder & Chairman at ChopBet, said: “We are excited to partner with Booming Games to bring their world-class gaming experience to ChopBet. Booming Games’ portfolio of games aligns perfectly with our vision of delivering premium gaming experiences to our customers across Africa, and we are confident that this partnership will offer our customers exciting new opportunities to enjoy.”

The post BOOMING GAMES EXPANDS IN WEST AFRICA WITH CHOPBET PARTNERSHIP appeared first on European Gaming Industry News.

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PlayOJO Becomes the Official Headline Sponsor of ITV1 and ITVX’s Dancing on Ice

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PlayOJO Bingo announced today it has inked a deal to be the official sponsor of ITV1’s live celebrity ice-skating competition Dancing on Ice for its seventeenth series.

The agreement includes significant PlayOJO Bingo brand visibility in the format of idents around the Sunday peak-time show. Hosted by Holly Willoughby and Stephen Mulhern, Dancing on Ice challenges celebrities and their professional ice skater partners to learn and perform ice-skating dance routines in front of a panel of judges and live studio audience.

The new season slid onto UK TV screens on 12th January. Celebrities hoping to achieve skating success this year include Olympic rowing legend Sir Steve Redgrave, Love Island star Chris Taylor,  TOWIE’s Dan Edgar and Ferne McCann, former footballer Anton Ferdinand, Coronation Street‘s Sam Aston,  EastEnders star Charlie Brooks and Hollyoaks’ Chelsee Healey; as well as former English football player Anton Ferdinand, comedian Josh Jones, Coronation Street’s Sam Aston, and presenter Michaela Strachan.

The deal includes 120 seconds of on-air brand accreditation via sponsorship idents featuring the PlayOJO Bingo ‘Sounds Like OJO Time’ creative platform and the brand’s iconic three-note sonic logo. There will also be 10 seconds of idents around free programme-streaming content on the ITVX website, ITV’s streaming service, and the STV Player website and mobile app.

Meanwhile, PlayOJO Bingo will have the rights to use the Dancing On Ice show logo, design assets and format across its website, app and social channels and in competitions targeting consumers, trade and employees, as well as certain other marketing communications.

Peter Bennett, CMO at PlayOJO said Dancing on Ice and the SkillOnNet-powered PlayOJO are perfect dance partners.

“PlayOJO Bingo is all about creating a vibrant and entertaining environment where players can challenge themselves and have fun whether they win or lose, just like the celebrities on Dancing on Ice. It’s about building exciting and memorable experiences, whether that be through the thrill of casino games or gliding across the ice.” 

The post PlayOJO Becomes the Official Headline Sponsor of ITV1 and ITVX’s Dancing on Ice appeared first on European Gaming Industry News.

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