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Evolution Gaming’s Year-end Report 2019

Niji Narayan

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Evolution Gaming’s Year-end Report 2019
Reading Time: 3 minutes

 

Fourth quarter of 2019 (Q4 2018)

Operating revenues increased by 51% to EUR 106.0 million (70.2)

EBITDA increased by 77% to EUR 55.8 million (31.6), corresponding to a margin of 52.7% (45.0)

Profit for the period amounted to EUR 46.8 million (25.5)

Earnings per share before dilution amounted to EUR 0.26 (0.14)

 

Full-year 2019 (2018)

Operating revenues increased by 49% to EUR 365.8 million (245.4)

EBITDA increased by 70% to EUR 182.9 million (107.7), corresponding to a margin of 50.0% (43.9)

Profit for the period amounted to EUR 149.7 million (83.5)

Earnings per share before dilution amounted to EUR 0.83 (0.46)

The Board proposes a dividend of EUR 0.42 per share (0.24)

 

Events during the fourth quarter of 2019

Good leverage from investments made in 2019 has contributed to a continued high growth

Several new customers signed – Flutter Entertainment with brands Paddy Power and Betfair, Parx Casino and Penn National Gaming

Continued expansion in North America

 

Comments from CEO Martin Carlesund: “I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution. The products we launched during the year – including new titles in the Game Show category – in combination with a continued strong market development and global demand, have contributed to a very high growth rate. Furthermore, we also experienced strong results from the investments in increased studio capacity we have made in recent years. Those factors, in combination with a constant pursuit of cost efficiency, has had a positive effect on our margin.

This year’s result trend has continued in the fourth quarter. Revenue in the fourth quarter amounted to EUR 106.0 million, an increase of 51 percent compared with the corresponding period last year. EBITDA amounted to EUR 55.8 million corresponding to a margin of 52.7 percent. The EBITDA margin for the full year reached 50 percent, the highest full-year margin in the company’s history and slightly surpassed our expectations from this summer which was 47–49 percent. For 2020, we expect to be able to maintain or slightly improve the margin level compared to 2019.

At the end of the fourth quarter, Evolution had more than 700 tables serving over 200 customers. During the quarter, we further strengthened our customer portfolio, including an agreement with Flutter Entertainment and its brands Paddy Power and Betfair. Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania and the process to build a studio in Pennsylvania is ongoing.

We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market.

When you are reading this, we have recently finished this year’s edition of ICE London Gaming Fair – where we showcased 12 fantastic new titles. With ground-breaking games like ‘Crazy Time’ and ‘Mega Ball’, we will continue to expand the Game Show category and aim to attract new player groups to Live. Examples of innovations on show in table games are Instant Roulette, Power Blackjack and Speed Blackjack. The dice game Craps, an important strategic release primarily for the US market, will also be interesting to follow. These are some examples of how we through innovative product launches continue to drive the entire industry forward and confirms our position as the leading innovator in the gaming industry. I am convinced that the new game titles will be received well by both players and operators and contribute to further growth in 2020.

To summarise, I am proud of what we have achieved in 2019, which has been an outstanding year from both a financial and operational perspective. I am very impressed with what our employees achieve every day – we are now approximately 8,000 employees working together with our eternal mission; to increase the gap to the competitors by offering the market’s best solutions. 2020 has started well and I look forward to another exciting year!”

Industry News

Frankie’s on board with Sporting Index

George Miller

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Frankie's on board with Sporting Index
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World’s top jockey joins leading bookmaker to offer unique insight for the 2020 Flat racing season

Sporting Index has made the landmark signing of world-class jockey Frankie Dettori, widely regarded as one of the greatest riders of all time, as a brand ambassador.

The deal will see Dettori carry the Sporting Index logo on his breeches and collar, offer exclusive thoughts on his rides at sportingindex.com and support with social media posts and daily previews during the season’s major meetings, such as Royal Ascot.

The Italian’s unrivalled achievements in the Flat racing sphere consist of 19 British Classics, including two Derby wins at Epsom, and an astonishing 251 Group 1 victories worldwide. He currently holds the LONGINES World’s Best Jockey Award and has done so for three of the last five years.

Sporting Index, who launched a fixed odds offering in 2019 to run alongside its well-established spread betting service, also currently sponsor leading National Hunt jockey Barry Geraghty, who celebrated a vintage Cheltenham Festival with five wins in March.

Simon Trim, CEO at Sporting Index, said: “Frankie is the face of Flat racing, if not horse racing as a whole, so it’s hugely exciting to have him as a Sporting Index brand ambassador.

“He is often riding the most talked about horses of the season, like Enable and Stradivarius, and we’re delighted to be able to bring racing fans closer to that with his regular blog.

“Even though he has cost us plenty of money over the years, no-one has done more to promote the sport of horse racing and we couldn’t be happier to have him on board.”

Frankie Dettori, said: “I’m over the moon to be joining Sporting Index ahead of the new Flat season. There are some top-quality horses that I can’t wait to get on this year, and I look forward to telling readers all about them.

“I saw over the winter that Barry Geraghty had plenty of success with Sporting Index on his breeches, so hopefully it’s the same for me too!”

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Industry News

Playtech “Takes Full Responsibility” and Apologises for PTES Failings

Niji Narayan

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Playtech “Takes Full Responsibility” and Apologises for PTES Failings
Reading Time: < 1 minute

 

Playtech has issued an apology for the failings of its PT Entertainment Services (PTES) subsidiary.

The case saw a customer sign up for an account in December 2016, ultimately spending £4.5m (€5.0m/$5.5m) on PTES’ Winner and Titanbet brands – losing £119,395 between 1 to 5 April 2017 alone – before committing suicide.

The UK Gambling Commission’s investigation uncovered widespread failings in the business’ social responsibility and anti-money laundering processes that resulted in no action being taken over the individual’s excessive gambling.

“We take full responsibility for these regulatory breaches. As a technology specialist, Playtech focuses on harnessing its capabilities in data-driven intelligence to place consumer protection at the centre of every stage of the player experience from game design to real-time engagement and messaging,” More Weizer, Chief Executive of Playtech, said.

“In recent years, we have invested significantly to seek to ensure that these types of breaches do not happen again, including addressing the specific issues raised by the Commission,” More Weizer added.

Playtech’s board extended its “deepest sympathies” to the victim’s family. Its interim chair, Claire Milne, will be contacting the family to apologise personally for the B2C subsidiary’s failings.

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Industry News

Bojoko Special Report assess the impact of Covid-19

George Miller

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Bojoko Special Report assess the impact of Covid-19
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Online casino comparison site has created a report that looks at what the pandemic means for the industry and how it can move forwards on a positive footing

Bojoko.com has created a special report analysing the impact of the Covid-19 pandemic on the online casino sector.

The online casino comparison site has used Google Trends data to see how consumers have reacted to the global sports blackout and what this means for online casino operators.

Some of the headline numbers show:

  • Sports betting search terms have declined from February to April. In particular, searches for “Best Betting Sites” and “Sports Betting UK” fell 41% and 33% respectively.
  • Online casino search terms have increased in volume over the three-month period, with “Best Casino Sites” enjoying a 78% increase in volume between February and April.
  • “New Online Casino” search volume recorded a 31% increase over the three months but made the biggest jump between March and April with its score increasing 50% MoM.
  • There were spikes in sports betting search terms on April 4 when the Virtual Grand National took place and casino search terms on Valentine’s Day.

The report also includes expert analysis and comment from a range of contributors, including operators, game developers and responsible gambling experts.

Joonas KarhuChief Business Officer at Bojoko, said: “We have created this report as a record of this unprecedented time in the history of the online gambling industry.

“But we also want it to act as a blueprint for how the sector can come out the other side on a positive footing and ensure it is business as usual as soon as possible.

“I’d like to thank those that have provided their opinion and insight and hope that the Bojoko Special Report provides understanding and value to all industry stakeholders.”

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