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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

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EveryMatrix signals LatAm expansion plans with CIBELAE membership
EveryMatrix has joined CIBELAE, the official branch of the World Lottery Association for 80 Hispanic American speaking countries, including Latin and Central America, Spain and Portugal, signalling its plans to expand its global reach across multiple regulated markets.
The application to join the Corporación Iberoamericana de Loterías y Apuestas de Estado as an Associate Member was approved at CIBELAE board level and is due to be formally ratified during the organisation’s Annual Ordinary Assembly later this year.
Membership positions the tier-1 technology provider alongside the most reputable lottery and iGaming institutions in 80 countries across six continents including Latin America, gaining valuable networking opportunities across events, working groups and industry discussions with major local operators.
It will also provide EveryMatrix with increased regional influence enabling its local and international commercial and product experts to contribute to shaping conversations around regulation, technology, and innovation within the lottery, betting and iGaming sectors.
EveryMatrix has a long history of working closely with tier-1 customers in LatAm and Spanish and Portuguese speaking markets with products including its SlotMatrix aggregation and exclusive content licensed and/or certified in Brazil, Columbia, Peru, Portugal, Spain, and many more territories.
Ebbe Groes, Group CEO & Co-Founder EveryMatrix, said: “This is a great step forward in both solidifying and expanding our presence in Latin America, Spain, Portugal and many other key territories as a trusted technology partner for lotteries.
“We look forward to leveraging this membership to create new, long-lasting relationships and opportunities and contributing to the growth and sustainable success of many important regulated markets.”
Rodrigo Cigliutti, Executive Director, CIBELAE, said: “The incorporation of EveryMatrix as an Associate Member of CIBELAE brings to our network a world-class B2B technology partner, renowned for delivering scalable, compliant, and innovative solutions that empower national and state-owned lotteries to modernise, expand omnichannel operations, and enhance player protection in regulated markets worldwide.”
The post EveryMatrix signals LatAm expansion plans with CIBELAE membership appeared first on European Gaming Industry News.
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SBC Summit 2025: New Conference Track Explores Asia’s Gaming Market
SBC Summit 2025 will provide delegates with a comprehensive overview of the latest developments shaping Asian sports betting and iGaming, delivered through its new Emerging Markets conference track.
On Thursday, 18 September 2025, at the Feira Internacional de Lisboa (FIL), the stage will bring together Asia’s leading industry figures to examine a market valued at over $18.3 billion last year. Sessions will cover how operators can navigate compliance across the continent’s diverse jurisdictions, whether India is moving towards a regulated market, and if the wider Asia-Pacific region represents the next major opportunity for international businesses.
The Asia-focused track will mark the culmination of three days of conference action on the Emerging Markets Stage. Day one will explore opportunities in Africa, and day two will analyse the markets of Eurasia and the Middle East.
Rasmus Sojmark, CEO and founder of SBC, said: “If you’re building a global gaming business, you can’t afford to ignore Asia. This track makes it clear why the region belongs at the center of every long-term growth strategy.
“Asia needs a platform where regulators, operators, suppliers, and investors can talk openly. SBC is proud to provide that space, and the Emerging Markets stage is the centerpiece of that effort.”
Opening the discussion is the panel Asia: Navigating Regulation, Opportunity and Uncertainty, which will take an in-depth look at the regulatory landscape across the entire region. Here, industry experts Rory Anderson (Consultant, 12BET), Paul Fox (Chairman & Founder, Claymore Solutions), Lau Kok Keng (Head of Intellectual Property, Sports & Gaming, Rajah & Tan Singapore), Yuta Romanchenko (CBDO, Big Idea), and panel moderator Rosalind Wade (CEO, WinnaMedia) will explore contrasting jurisdictions, from the rise of alternative betting in India to Macau’s entrenched land-based sector, while also assessing which countries are most primed for investment and market entry.
India’s Regulatory Roadmap: The Next Decade for Gaming will shine a spotlight on the country’s complex state-by-state framework and the legal divide between games of skill and games of chance, which has created a unique environment: fantasy sports, lottery, and horse racing have flourished, while online gaming and traditional sports betting remain largely restricted. Bringing together Ranjana Adhikari (Partner, Shardul Amarchand Mangaldas & Co Advocates & Solicitors), Anton Kaszubowski (Managing Director, SBC Advisory), and Japneet Singh Sethi (Chief Growth Officer – South Asia, iGaming NDA), the panel will explore whether the industry is moving toward meaningful regulation or if the grey market will continue to dominate.
The panel Philippines: Life after POGOs will bring together Dominique Laconico (President & CEO, MegaBet+ & Scorebet), Keith McDonnell (Director, KMI Group), Joe Pisano (CEO, Jade Gaming), and Marie Antonette “Tonet” Quiogue (Principal, Arden Consult) to examine the country’s shift from offshore gaming operators (POGOs) to the newly introduced PIGOs. The discussion will explore whether this transition makes the Philippines Asia’s first truly regulated market, the continuing role of PAGCOR, the fate of overseas populations once served by POGOs and the lessons other Asian jurisdictions can draw from this model.
The SBC Summit 2025 agenda also includes the Global Markets stage, which will provide a focused look at the world’s most profitable sports betting and iGaming markets. Over the course of three days, delegates will gain insights into strategies for market entry and expansion in Latin America & Brazil, Western Europe and North America.
Get your tickets for SBC Summit 2025 today!
The post SBC Summit 2025: New Conference Track Explores Asia’s Gaming Market appeared first on European Gaming Industry News.
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AD STANDARDS COUNCIL HONORS PAGCOR CHIEF
The Ad Standards Council (ASC) today recognized Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco for his leadership in promoting responsible advertising in the gaming industry during the council’s Patas na Patalastas Summit in Makati City.
In accepting the Plaque of Appreciation from the ASC, Mr. Tengco said the honor was not only for him but also for the men and women of PAGCOR who remain committed to fairness, truth, and accountability in discharging their responsibilities.
He also commended the ASC for its role in upholding truth, decency, and accountability in Philippine advertising.
“Industries like ours carry an even greater responsibility to protect public trust,” Mr. Tengco said. “Our partnership with ASC ensures that gambling-related advertisements are not only creative and compelling but also ethical, truthful, and mindful of their impact on society.”
The ASC and PAGCOR formalized their collaboration last July 16 through a Memorandum of Understanding requiring all gambling-related ads – whether on TV, radio, online, or outdoors – to undergo ASC review and approval before public release.
PAGCOR itself also ordered the removal of all outdoor gambling billboards as part of its stricter regulatory measures last month.
“These steps are proof that when it comes to protecting the public, we will always choose to do what is right,” the PAGCOR chief added.
The ASC summit brought together regulators, advertisers, and industry stakeholders to reinforce collaborative efforts in ensuring truthful, ethical, and accountable advertising practices in the Philippines.
The post AD STANDARDS COUNCIL HONORS PAGCOR CHIEF appeared first on European Gaming Industry News.
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