Industry News

Evolution Reports Strong Fourth Quarter and Full Year 2020 Results

Published

4 years ago

February 11, 2021

Niji Narayan

Evolution has entered into an agreement to acquire Nolimit City

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Evolution has announced its financial results for the fourth quarter and full-year 2020.

Operating revenues in Q4 increased by 68% to €177.7 million with profit for the period amounting to €80.6m.

Operating revenues for the full year increased by 53% to € 561.1m, with profit for the period amounting to €284.6 million and earnings per share of €1.55.

2020 saw the company rebrand from Evolution Gaming to become Evolution and complete the acquisition of NetEnt and Red Tiger.

“We end an eventful 2020 on a high note with a quarter that marks a significant step forward for Evolution. Through the acquisition of NetEnt, we add a second vertical to our unrivalled live casino offer and two strong and fantastic new brands to our product portfolio,” Martin Carlesund, CEO of Evolution, said.

“This makes us well-placed for our long-term ambition of taking a leading global position in online casino. With a strong market penetration in live casino and slots across North America, Asia and Europe as our platform, we remain committed to creating the best gaming experience for every single user in both verticals. I am excited about what lies ahead for 2021 when we will continue to increase the gap to the competition,” Martin Carlesund added.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.